In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Q: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Tax Credit for Early Educators Act
of 2012''.

SEC. 2. TAX CREDIT FOR PROFESSIONAL SCHOOL PERSONNEL IN EARLY CHILDHOOD
EDUCATION.

(a) In General.--Subpart A of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 (relating to nonrefundable
personal credits) is amended by inserting after section 25D the
following new section:

''SEC. 25E. PROFESSIONAL SCHOOL PERSONNEL IN EARLY CHILDHOOD EDUCATION.

''(a) Allowance of Credit.--In the case of an eligible individual,
there shall be allowed as a credit against the tax imposed by this
chapter for the taxable year an amount equal to $3,000.
''(b) Eligible Individual.--For purposes of this section--
''(1) In general.--The term 'eligible individual' means any
individual--
''(A) who is employed in a position which involves
regular contact with students in an early childhood
school or program, and
''(B) whose position involves the formulation or
implementation of the educational program for such
school or program.
''(2) Early childhood school or program.--The term 'early
childhood school or program' means any school or program which
provides early childhood education, as determined under State
law.
''(c) Cost-of-Living Adjustment.--
''(1) In general.--In the case of any taxable year
beginning in a calendar year after 2012, the $3,000 amount
contained in subsection (a) shall be increased by an amount
equal to--
''(A) such dollar amount, multiplied by
''(B) the cost-of-living adjustment determined
under section 1(f)(3) for the calendar year in which
the taxable year begins, by substituting 'calendar year
2011' for 'calendar year 1992' in subparagraph (B)
thereof.
''(2) Rounding.--If any increase determined under paragraph
(1) is not a multiple of $10, such increase shall be increased
to the next highest multiple of $10.''.
(b) Clerical Amendment.--The table of sections for subpart A of
part IV of subchapter A of chapter 1 of such Code is amended by
inserting after the item relating to section 25D the following new
item:

''Sec. 25E. Professional school personnel in early childhood
education.''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2011.

SEC. 3. DEDUCTION FOR CERTAIN EXPENSES OF EARLY CHILDHOOD, PRESCHOOL,
ELEMENTARY AND SECONDARY SCHOOL TEACHERS.

(a) In General.--Subparagraph (D) of section 62(a)(2) of the
Internal Revenue Code of 1986 (relating to certain expenses of
elementary and secondary school teachers) is amended to read as
follows:
''(D) Certain expenses of early childhood,
preschool, elementary and secondary school teachers.--
In the case of taxable years beginning before 2017, the
deductions allowed by section 162 which consist of
expenses, not in excess of the applicable amount, paid
or incurred by an eligible educator in connection with
books, supplies (other than nonathletic supplies for
courses of instruction in health or physical
education), computer equipment (including related
software and services) and other equipment, and
supplementary materials used by the eligible educator
in the classroom.''.
(b) Definitions.--Subsection (d) of section 62 of such Code
(relating to definition; special rules) is amended to read as follows:
''(d) Definitions Relating to Early Childhood, Preschool,
Elementary and Secondary School Teachers.--For purposes of subsection
(a)(2)(D) and this subsection--
''(1) Applicable amount.--The term 'applicable amount'
means--
''(A) $500 in the case of a full-time educator, and
''(B) $250 in any other case.
''(2) Eligible educator.--The term 'eligible educator'
means, with respect to any taxable year, an individual who is--
''(A) a kindergarten through grade 12 teacher,
instructor, counselor, principal, or aide in a school
for at least 450 hours during a school year which ends
during such taxable year, or
''(B) a teacher, instructor, counselor, or aid in a
preschool or early childhood program for at least 450
hours during the taxable year.
''(3) Full-time educator.--The term 'full-time educator'
means, with respect to any taxable year, an individual who for
such taxable year satisfies the requirements of subparagraph
(A) or (B) of paragraph (2) applied by substituting '900 hours'
for '450 hours' therein.
''(4) School.--The term 'school' means any school which
provides elementary education or secondary education
(kindergarten through grade 12), as determined under State law.
''(5) Preschool or early childhood program.--The term
'preschool or early childhood program' means any program
which--
''(A) is for providing preschool and receives funds
for carrying out preschool programs pursuant to--
''(i) part A of title I of the Elementary
and Secondary Education Act of 1965, or
''(ii) subpart 2 of part B of title I of
such Act, or
''(B) is an early childhood program, as defined
under section 103 of the Higher Education Act of
1965.''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years ending after the date of the enactment of this
Act.

SEC. 4. MODIFICATION OF CREDIT FOR DEPENDENT CARE SERVICES.

(a) In General.--Subsection (a) of section 21 of the Internal
Revenue Code of 1986 is amended to read as follows:
''(a) Allowance of Credit.--In the case of an individual for which
there are 1 or more qualifying individuals (as defined in subsection
(b)(1)) with respect to such individual, there shall be allowed as a
credit against the tax imposed by this chapter for the taxable year an
amount equal to 35 percent of the employment-related expenses (as
defined in subsection (b)(2)) paid by such individual during the
taxable year.''.
(b) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after the date of the enactment of
this Act.
A:
Tax Credit for Early Educators Act of 2012 - Amends the Internal Revenue Code to: (1) allow an individual taxpayer who is employed in a position involving regular contact with students in an early childhood school or education program and whose position involves the formulation or implementation of educational programs for such school or program a $3,000 tax credit, adjusted for inflation after 2012; (2) extend until 2017 the tax deduction for certain expenses of eligible educators (currently, elementary and secondary school teachers) and expand the definition of "eligible educators" to include teachers, instructors, counselors, or aides in a preschool or early childhood program; and (3) eliminate the income-based reduction in the tax credit for employer-provided dependent care services (thus allowing a full 35% credit for employment-related expenses incurred for the care of a dependent).