Pennsylvania Child and Dependent Care Enhancement Tax Credit Program established.

The bill establishes the Pennsylvania Child and Dependent Care Enhancement Tax Credit Program. It provides a tax credit for employment-related expenses incurred by taxpayers, up to $3,000 for one qualifying individual or $6,000 for two or more. The credit is 30% for taxable years ending before January 1, 2023, and 100% for those beginning after December 31, 2022, and ending before January 1, 2027. The Department of Revenue must publish guidelines and may promulgate regulations for the program. The bill also repeals Article XVI-W of The Fiscal Code.

Pennsylvania Child and Dependent Care Enhancement Tax Credit Program established.

The bill establishes the Pennsylvania Child and Dependent Care Enhancement Tax Credit Program. It provides a tax credit for employment-related expenses incurred by taxpayers, up to $3,000 for one qualifying individual or $6,000 for two or more. The credit is 30% for taxable years ending before January 1, 2023, and 100% for those beginning after December 31, 2022, and ending before January 1, 2027. The Department of Revenue must publish guidelines and may promulgate regulations for the program. The bill also repeals Article XVI-W of The Fiscal Code.