The bill would create an Early Childhood Education Trust Fund in the Treasury. Each year, 15% of the amount equivalent to estate taxes received would be transferred to the fund. At least 25% of that amount would be made available for child care supply grants to state and other lead agencies. The bill would also lower the estate and gift tax exemption from $15 million to $7 million and change how the exemption is adjusted for inflation.
The tax exemption changes would apply to estates of people who die and gifts made after December 31, 2025. The grants would go to lead agencies under the Child Care and Development Block Grant Act. No publicly available information explains how the changes would affect any particular person or child care provider.
The bill would direct 15% of the amount equivalent to estate taxes received each year to the trust fund. It provides no estimate of the total amount transferred or of the grants.
No publicly available information.
No publicly available information.