Section 47:6104 - Child care expense tax creditA. There shall be a credit against Louisiana individual income tax for child care expenses in addition to the credit provided for such expenses in R.S. 47:297.4. Such credit shall be based upon the credit provided for such expenses in R.S. 47:297.4 and shall be based upon the quality rating of the child care facility which the child attends as follows: Quality Rating of Child Care | Percentage of the credit in |
Facility | R.S. 47:297.4 |
Five star | 200% |
Four star | 150% |
Three star | 100% |
Two star | 50% |
One star or nonparticipating |
child care facility0 | 0 |
B. Parents with multiple children shall calculate the credit of each child separately. In the event that a single child receives services in more than one child care facility in a single year, the facility with the highest quality rating shall be used to calculate the credit.C. The credit shall be refundable or shall be carried forward as provided for in R.S. 47:297.4.D. Commencing no later than January 31, 2016, the House Committee on Ways and Means and the Senate Committee on Revenue and Fiscal Affairs shall review the credit authorized pursuant to the provisions of this Section to determine if the economic benefit provided by such credit outweighs the loss of revenue realized by the state as a result of awarding such credit. The House and Senate committees shall make a specific recommendation no later than March 1, 2017, to either continue the credit or to terminate the credit.La. Revenue and Taxation § 47:6104
Acts 2007, No. 394, §1, eff. July 10, 2007; Acts 2015, No. 357, §1, eff. June 29, 2015.Amended by Acts 2015, No. 357,s. 1, eff. 6/29/2015.Acts 2007, No. 394, §1, eff. 7/10/2007.