HB 932 -- Tax Credits for Stay-At-Home Parents

Sponsor:  Grill

This bill authorizes the Motherhood/Fatherhood Stay-at-home tax
credit for a parent who stays at home to provide care for a child
up to 24 months of age.  Any married parent who was gainfully
employed before the birth or adoption of a child whose annual
salary was less than $100,000 is eligible for a tax credit equal
to 25% of the stay-at-home parent's annual salary in the year
before choosing to become a stay-at-home parent.  The tax credit
cannot be refunded, transferred, sold, or assigned but can be
carried forward up to three years.  The annual cumulative amount
of credits issued may not exceed $2 million.  The Department of
Revenue will establish rules to implement the provisions of the
bill.

The provisions of the bill will expire on December 31 six years
after the effective date.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:20 am