,,ii  #aai? ,,congress  #b;d ,session   
,s4 #diah  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #bd1 #bjbf,mrs4  
,%ahe5 7= h]self1 ,mr4 ,k+1 & ,ms4      
,klobu*>7 introduc$ ! foll[+ bill2 :i* 0
 read twice & ref]r$ to ! ,committee on 
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to provide        
inc5tives = /ud5ts to e>n *ild          
c>e-relat$ degrees & to "w 9 *ild c>e   
facilities4  #a4 ,%ort title ,?is ,act  
may be cit$ z ! ,"r ,/>t ,*ild ,c>e &   
,education ,act ( #bjbf4  #b4 #c-ye>    
cr$it = individuals hold+ *ild          
c>e-relat$ degrees :o "w 9 lic5s$ *ild  
c>e facilities  7a7 ,9 g5]al ,subp>t ,c 
( "p ,,iv ( sub*apt] ,a ( *apt] #a ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] section #cf;,b ! foll[+  
new section3  #cf;,c4 ,"r />t *ild c>e &
 education cr$it  7a7 ,9 g5]al ,9 ! case
 ( an individual :o is an eligible *ild 
c>e provid] = ! taxable ye>1 !re %all be
 all[$ z a cr$it aga9/ ! tax impos$ by  
?is *apt] = ! taxable ye> ! am\nt (--   

7#a7 #d1ejj1 9 ! case ( an eligible *ild
 c>e provid] ) a ba*elor's degree       
describ$ 9 subsection 7c77#a77;,a77i71  
7#b7 #c1jjj1 9 ! case ( an eligible *ild
 c>e provid] ) an associate's degree    
describ$ 9 su* subsection1 &  7#c7      
#a1ejj1 9 any o!r case4  7b7 #c-,ye>    
cr$it  7#a7 ,9 g5]al ,! cr$it all[able  
by subsection 7a7 = any taxable ye> to  
an individual %all be all[$ = su* ye>   
only if ! individual elects !           
application ( ?is section = su* ye>4    
7#b7  ,election  ,an election to h ?is  
section apply may n be made by an       
individual = any taxable ye> if su* an  
election by su* individual is 9 effect =
 any #c prior taxable ye>s4  7c7        
,eligible *ild c>e provid] ,= purposes (
 ?is section-- 7#a7 ,9 g5]al ,! t]m     
eligible *ild c>e provid] means1 = any  
taxable ye>1 any individual if-- 7,a7 z 
( ! close ( su* taxable ye>1 su*        
individual-- 7i7 holds-- 7,i7 a         
ba*elor's degree1 or  7,,ii7 an         
associate's degree1  9 e>ly *ildhood    

education1 *ild c>e1 or a relat$ degree1
 & su* degree 0 aw>d$ by an eligible    
educational in/itution 7z def9$ 9       
section #be;,a7f77#b771 or  7ii7 holds  
an active ,*ild ,developm5t ,associate  
cr$5tial issu$ by ! ,c\ncil =           
,pr(essional ,recognition1 &  7,b7 dur+ 
su* taxable ye>1 su* individual p]=ms at
 lea/ #a1bjj h\rs ( *ild c>e s]vices at 
a facility if-- 7i7 ! pr9cipal use ( !  
facility is to provide *ild c>e s]vices1
  7ii7 no m ?an #be p]c5t ( ! *ildr5    
receiv+ *ild c>e s]vices at ! facility  
are *ildr5 7z def9$ 9 section #aeb7;f77 
( ! individual or su* individual's      
sp\se1 &  7iii7 ! facility meets !      
requirem5ts ( all applicable laws &     
regulations ( ! ,/ate or local gov]nm5t 
9 :i* x is locat$1 includ+ ! lic5s+ ( ! 
facility z a *ild c>e facility4         
,subp>agraph 7,b77i7 %all n apply to a  
facility :i* is ! pr9cipal resid5ce 7)9 
! mean+ ( section #aba7 ( ! op]ator ( ! 
facility4  7#b7 ,*ild c>e s]vices ,! t]m
 *ild c>e s]vices means *ild c>e & e>ly 

*ildhood education4  4  7b7 ,con=m+     
am5dm5ts  7#a7 ,section                 
#fbaa7;b77#d77;,a7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by ins]t+ 1      
#cf;,c aft] #cf;,b4  7#b7 ,p>agraph 7#b7
 ( section #acbd7;b7 ( title #ca1 ,unit$
 ,/ates ,code1 is am5d$ by ins]t+ 1     
#cf;,c aft] #cf;,b4  7c7 ,cl]ical       
am5dm5t ,! table ( sections = subp>t ,c 
( "p ,,iv ( sub*apt] ,a ( *apt] #a ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] ! item relat+ to section 
#cf;,b ! foll[+ new item3  ,sec4 #cf;,c4
 ,"r />t *ild c>e & education cr$it4  4 
7d7 ,effective date ,! am5dm5ts made by 
?is section %all apply to taxable ye>s  
beg9n+ aft] ,decemb] #ca1 #bjbf4