SB426-SA1,1,5
21. Page 3, line 7: delete lines 7 and 8 and substitute “to the amount of the limit
3determined under s. 224.55 (2) (b) in a taxable year, or an amount equal to one-half
4of the amount of the limit determined under s. 224.55 (2) (b) for an account owned
5by a person who is married and files separately.”.
SB426-SA1,1,7
7“(bm) “Household” has the meaning given in s. 71.58 (5).”.
SB426-SA1,2,6
2“2. If the account owner or the account owner's spouse has excluded income
3under section
129 of the Internal Revenue Code for the same taxable year, the total
4of contributions to the account for that taxable year may not exceed an amount equal
5to $10,000 minus the amount excluded from the income of the account owner and the
6account owner's spouse under section
129 of the Internal Revenue Code.”.
SB426-SA1,2,10
9“(d) Not more than one child care reimbursement account may be established
10for any household.”.
SB426-SA1,2,15
12“(e) 1. Except as provided in subd. 2., if funds remain in a child care
13reimbursement account after there is no qualifying child in the account owner's
14household, upon notice the vendor shall distribute the balance of the child care
15reimbursement account to the account owner.”.
