HB 2156 -- Motherhood/Fatherhood Stay-at-Home Tax Credit

Sponsor:  Grill

Beginning January 1, 2008, this bill authorizes the
Motherhood/Fatherhood Stay-at-Home tax credit for a parent who
stays at home to provide care for her/his dependent child up to
24 months of age.  Any parent who was gainfully employed before
the birth or adoption of a child whose annual salary was less
than $100,000 in the year before choosing to become a
stay-at-home parent is eligible for the tax credit.  The credit
will be 25% of the stay-at-home parent's annual salary if the
salary is $35,000 or less, 20% if the annual salary is between
$35,000 and $70,000, or 15% if the annual salary is between
$70,000 and $100,000.  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 provisions of the bill will expire December 31 six years
after the effective date.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:11 pm