Thank you for your current and previous participation in the Oregon Employer Provided Dependent Care Tax Credit Program. We want to make you aware of a legislative change that will take effect January 1, 2016.
Earlier this year, new legislation was enacted that impacts the program. Specifically, House Bill 2171 combines the existing Working Family Child Care and the Child and Dependent Care tax credits into a single Working Family Child and Dependent Care tax credit for the tax years 2016 through 2021. The purpose of this new combined tax credit is to enable low-income working families to access care for young children and dependents with disabilities by offsetting costs of care so they can be gainfully employed or attend school full time.
The Oregon Employer Provided Dependent Care Tax Credit will sunset as of December 31, 2015. The Early Learning Division will no longer issue certificates starting with tax year 2016 as the tax credit will not be available as of January 1, 2016. The Early Learning Division does not give tax advice, so we encourage you to talk to your accountant or tax consultant for more information.
Contributions available as of January 3, 2017: $1,000,000.00.