| | | B.__If the taxpayer expends $10,000 in one year, $1,000 each | | year for 10 years and $10,000 at the end of the 10-year | | period. |
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| | | 4.__Limitation; carry-over.__The credit allowed under | | subsection 2 may not reduce the tax otherwise due under this Part | | below zero.__Any unused portion of the credit may be carried over | | to the following year or years until exhausted. |
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| | | 5.__Quality child care.__The Department of Human Services | | shall adopt rules defining quality child care.__Rules adopted | | pursuant to this subsection are major substantive rules as | | defined in the Maine Administrative Procedure Act, Title 5, | | chapter 375, subchapter II-A. |
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| | | 6. Application. This Act applies to tax years beginning on | | or after January 1, 2000. |
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| | | Under current law individual residents may receive a tax | | credit for child care expenditures and employers may receive a | | tax credit for providing day care services to employees. This | | bill increases the credit amounts if the child care expenditures | | are made for day care services, provided that are quality child | | care as defined by rule. The bill establishes a new tax credit | | for those investing in the creation of quality day care services. |
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