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S 5261

Increases the child and dependent care tax credit

2025 Regular Session Introduced by Jake Ashby and 3 co-sponsors

S 5261 increases the state child and dependent care tax credit, expanding relief for families with dependent care costs and impacting state budget planning.

REFERRED TO BUDGET AND REVENUE
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Bill Summary · S 5261

Legislative Summary: S 5261 — Increases the child and dependent care tax credit

Overview

  • Bill Number: S 5261
  • Title: Increases the child and dependent care tax credit
  • Sponsor (Primary): Jake Ashby
  • Status: Referred to Budget and Revenue
  • Introduced: February 20, 2025
  • Classification: Senate bill

Purpose and intent

  • The bill is positioned to increase the state child and dependent care tax credit. The available information confirms only the general intent to expand or enhance the credit; specific amendments, rate changes, eligibility criteria, or cap adjustments are not provided in the summary.

Key provisions (as available)

  • Specific provisions (e.g., exact credit percentage increases, maximum credit amount, income thresholds, eligible expenses, refundable vs. nonrefundable status, inflation indexing, or conformity with federal rules) are not included in the information provided.
  • The bill’s designation as “Increases the child and dependent care tax credit” indicates a broadened or enhanced credit would be introduced, but the precise mechanics require the text of the bill.

Who is affected

  • Primary affected group: Taxpayers eligible for the state child and dependent care tax credit, typically households with dependent care expenses for children or other dependents.
  • Indirect effects: Childcare providers and workers could be affected through changes in demand, eligibility, and timing of tax relief for families; state revenue and budget planning would also be influenced due to the fiscal impact of a larger credit.

Procedural and timeline aspects

  • Referral: The bill was referred to the Budget and Revenue committee on February 20, 2025 (listed twice in actions, likely reflecting multiple tracking entries).
  • Next steps: The committee will review fiscal implications, hear expert testimony, and consider amendments. The bill would need passage in the senate and any companion/house action (e.g., Assembly companion bills) to proceed toward enacted law.
  • Related legislation:
    • Companions: A 2674 (listed as companion)
    • Additional related items from prior sessions: A 10265, A 1060, A 5010, S 4873
    • This legislative family suggests ongoing interest in modifying/expanding the dependent care tax credit across chambers or sessions.

Fiscal considerations

  • The reference to Budget and Revenue implies a focus on the bill’s fiscal impact. A future fiscal note or revenue analysis would detail anticipated cost to the state treasury, potential offsets, and any needed revenue adjustments.

Summary note

  • At this stage, the summary reflects the bill’s title and status without the full statutory text. For a complete understanding of the changes, the enacted text or fiscal notes will be essential to review the exact credit formula, eligibility, and administrative changes. Readers should monitor upcoming committee hearings and sponsor statements for precise provisions.

Compiled from official sources — confirm details with the bill’s official record.

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