S. 962Senate108th Congress (2003-2005)In Committee

A bill to amend the Internal Revenue Code of 1986 to accelerate the increase in the child tax credit and to expand refundability of such credit, and for other purposes.

Introduced April 30, 2003

Legislative Activity

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SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance.

April 30, 2003

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SenateIntro Referral

Introduced in Senate

April 30, 2003

SenateIntro Referral

Read twice and referred to the Committee on Finance.

April 30, 2003

Floor Debate

17 members

What members said about S. 962 on the floor

7 Republicans10 Democrats
John D. Rockefeller IV
Sen. John D. Rockefeller IVD-WV · Apr 30, 2003

Mr. President, I am pleased to cosponsor legislation being introduced today that will dramatically improve the child tax credit. I thank my friend and colleague, Senator Lincoln, for her hard work on…

Russell D. Feingold
Sen. Russell D. FeingoldD-WI · Apr 30, 2003

Mr. President, as millions of public school students and teachers around the country prepare to complete their first school year under the No Child Left Behind Act, NCLB, I am introducing a bill that…

Michael B. Enzi
Sen. Michael B. EnziR-WY · Apr 30, 2003

Mr. President, today I offer a bill that will make a very small change in our Cuba policy. It deals only with travel provisions to Cuba. I have been watching Cuba since the 1960s. I went to George…

John Warner
Sen. John WarnerR-VA · Apr 30, 2003

Mr. President, I rise today to introduce this morning a bill on which my distinguished colleagues from Minnesota and Maine and I have collaborated. That is the Older Americans Prescription Drug Tax…

Herb Kohl
Sen. Herb KohlD-WI · Apr 30, 2003

Mr. President, I rise today to reintroduce the Patient Abuse Prevention Act, which will go a long way in protecting patients in long-term care from abuse and neglect. This legislation will establish…

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Jon S. Corzine
Sen. Jon S. CorzineD-NJ · Apr 30, 2003

Mr. President, I rise today to reintroduce my legislation, the Patient and Physician Safety and Protection Act of 2003, to limit medical resident work hours to 80 hours a week and to provide real…

Byron L. Dorgan
Sen. Byron L. DorganD-ND · Apr 30, 2003

Mr. President, this morning, my colleague from Wyoming, Senator Enzi, has introduced a piece of legislation I am an original cosponsor of. I want to make a point about the legislation. The…

Lisa Murkowski
Sen. Lisa MurkowskiR-AK · Apr 30, 2003

Mr. President, I rise today to introduce legislation to correct an inequity in the HUBzone contracting program administered by the Small Business Administration, SBA. This bill amends the criteria by…

Max Baucus
Sen. Max BaucusD-MT · Apr 30, 2003

Madam President, I rise today to offer legislation, along with my colleagues Senator Enzi and Senator Dorgan, that would end the restrictions placed on travel to Cuba. I understand our colleagues in…

Richard C. Shelby
Sen. Richard C. ShelbyR-AL · Apr 30, 2003

Mr. President, on July 31, 2002, the Federal Energy Regulatory Commission, FERC, issued a notice of proposed rulemaking to create a one-size-fits-all template for electric markets referred to as…

Debbie Stabenow
Sen. Debbie StabenowD-MI · Apr 30, 2003

Mr. President, I rise today to speak on behalf of a bill I am introducing to turn the historic United States Coast Guard Cutter Bramble, into a floating maritime museum in Port Huron, MI, after she…

John D. Rockefeller IV
Sen. John D. Rockefeller IVD-WV · Apr 30, 2003

Mr. President, I am pleased to cosponsor legislation being introduced today that will dramatically improve the child tax credit. I thank my friend and colleague, Senator Lincoln, for her hard work on…

Daniel K. Akaka
Sen. Daniel K. AkakaD-HI · Apr 30, 2003

Mr. President, I rise today to introduce legislation to authorize three important water reclamation projects in the State of Hawaii. In addition, this bill increases the amount authorized for the…

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Mark Dayton
Sen. Mark DaytonD-MN · Apr 30, 2003

I commend my colleague from Wyoming and his leadership in relationship to Cuba, which is of strong interest to businesses and farmers in my home State of Minnesota. I ask unanimous consent to be…

James M. Inhofe
Sen. James M. InhofeR-OK · Apr 30, 2003

Mr. President, as the Senate's only commercially licensed pilot, I rise today, along with my colleagues, Senator Kyl, Senator Burns, Senator Thomas and Senator Grassley, to introduce a bill that will…

Barbara Boxer
Sen. Barbara BoxerD-CA · Apr 30, 2003

Mr. President, I am pleased to introduce the ``Flight Attendant Certification Act.'' Since September 11, flight attendants have become a last line of defense against terrorist attacks. As we all…

Pete V. Domenici
Sen. Pete V. DomeniciR-NM · Apr 30, 2003

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Trent Lott
Sen. Trent LottR-MS · Apr 30, 2003

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Bill Text

Latest available legislative text

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Latest
Introduced in SenateIssued April 30, 2003
        [Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 962 Introduced in Senate (IS)]

108th CONGRESS
1st Session
S. 962

To amend the Internal Revenue Code of 1986 to accelerate the increase
in the child tax credit and to expand the refundability of such credit,
and for other purposes.

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

April 30, 2003

Mrs. Lincoln (for herself, Mr. Rockefeller, Mr. Bingaman, and Mr.
Breaux) introduced the following bill; which was read twice and
referred to the Committee on Finance

_______________________________________________________________________

A BILL

To amend the Internal Revenue Code of 1986 to accelerate the increase
in the child tax credit and to expand the refundability of such credit,
and for other purposes.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. EXPANSION OF CHILD TAX CREDIT.

(a) Acceleration of Increase in Credit.--Subsection (a) of section
24 of the Internal Revenue Code of 1986 (relating to child tax credit)
is amended to read as follows:
``(a) Allowance of Credit.--There shall be allowed as a credit
against the tax imposed by this chapter for the taxable year with
respect to each qualifying child of the taxpayer an amount equal to
$1,000.''.
(b) Expansion of Credit Refundability.--
(1) In general.--Clause (i) of section 24(d)(1)(B) of the
Internal Revenue Code of 1986 (relating to portion of credit
refundable) is amended to read as follows:
``(i) 15 percent of so much of the
taxpayer's earned income (within the meaning of
section 32) which is taken into account in
computing taxable income for the taxable year
as exceeds $7,500, or''.
(2) Conforming amendment.--Section 24(d) of such Code is
amended by striking paragraph (3).
(c) Increase in Age of Qualifying Child.--Section 24(c)(1)(B) of
the Internal Revenue Code of 1986 (defining qualifying child) is
amended by striking ``age of 17'' and inserting ``age of 19''.
(d) Effective Dates.--
(1) In general.--Except as provided in paragraph (2), the
amendments made by this section shall apply to taxable years
beginning after December 31, 2002.
(2) Subsection (c).--The amendment made by subsection (c)
shall apply to calendar years beginning after 2002.
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