HOUSE BILL No. 1594
DIGEST OF INTRODUCED BILL
Synopsis: Tax credit for stay at home parents. Provides a $500
adjusted gross income tax credit for a stay at home parent.
Effective: July 1, 2001.
January 17, 2001, read first time and referred to Committee on Ways and Means.
First Regular Session 112th General Assembly (2001)
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HOUSE BILL No. 1594
A BILL FOR AN ACT to amend the Indiana Code concerning
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-3.1-22; (01)IN1594.1.1. -->
IS ADDED TO THE INDIANA CODE
AS A NEW
CHAPTER TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2001]:
Chapter 22. Stay At Home Parent Tax Credit
Sec. 1. This chapter creates the stay at home parent tax credit.
Sec. 2. For purposes of this chapter, "child" means an
(1) who is less than thirteen (13) years of age; and
(2) with respect to whom a parent is entitled to a deduction
under Section 151(c) of the Internal Revenue Code.
Sec. 3. For purposes of this chapter, "earned income" means the
sum of the:
(1) wages, salaries, tips, and other employee compensation;
(2) net earnings from self-employment (as computed under
Section 32(c)(2) of the Internal Revenue Code);
of an individual taxpayer.
Sec. 4. For purposes of this chapter, "parent" means the
biological or adoptive parent or the stepparent of a child.
Sec. 5. As used in this chapter, "stay at home parent" means a
(1) is a parent;
(2) has no earned income; and
(3) stays at home to provide for:
(A) the care, health, safety, and supervision; and
(B) the social, emotional, and educational growth;
of the taxpayer's child or children;
for the entire taxable year.
Sec. 6. A stay at home parent is entitled to a credit against:
(1) the stay at home parent's adjusted gross income tax
(2) the adjusted gross income tax liability of the stay at home
parent and the stay at home parent's spouse, if the stay at
home parent files a joint return;
for the taxable year in the amount of five hundred dollars ($500).
Sec. 7. A stay at home parent who is married must file a joint
return to be eligible to receive a credit under this chapter.