Minnesota HF3299 establishes a refundable tax credit for family members who provide child care.

Minnesota HF3299 creates a refundable tax credit for family members who provide child care. To qualify, the caregiver must provide at least 416 hours of care to a child under six years old, enabling the child's parent or guardian to work. The caregiver must not receive compensation, be a qualifying relative of the child, not share the same residence as the child, and be exempt from licensure. The credit is $2,000 and is refundable if it exceeds the taxpayer's liability. The credit phases out for taxpayers with adjusted gross income over $50,000 or $100,000 for joint filers.

Minnesota HF3299 establishes a refundable tax credit for family members who provide child care.

Minnesota HF3299 creates a refundable tax credit for family members who provide child care. To qualify, the caregiver must provide at least 416 hours of care to a child under six years old, enabling the child's parent or guardian to work. The caregiver must not receive compensation, be a qualifying relative of the child, not share the same residence as the child, and be exempt from licensure. The credit is $2,000 and is refundable if it exceeds the taxpayer's liability. The credit phases out for taxpayers with adjusted gross income over $50,000 or $100,000 for joint filers.