An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Internal Revenue Code of 1986

The main body of federal tax law in the United States.

Refundable Credit

A tax credit that can result in a taxpayer receiving money back from the government, even if the credit amount is more than the taxes they owe.

Taxable Year

The annual accounting period for calculating income tax, typically the calendar year for individuals.

Qualified Child Care Startup Expenses

Specific costs associated with establishing and operating a family child care provider that are eligible for the tax credit, such as licensing fees, supplies, and necessary renovations.

Family Child Care Provider

An individual who provides child care services for compensation, usually in their own home, and is licensed or registered by their state.

Sunset Clause

A provision in a law that specifies an expiration date for the law or a specific part of it, meaning it will no longer be in effect after that date unless renewed.