25RS SB 47

Actions

Last Action	01/07/25: to Committee on Committees (S)
Title	AN ACT relating to the Kentucky child credit.
Bill Documents	Introduced
Bill Request Number	155
Sponsor	C. Armstrong
Summary of Original Version	Create a new section of KRS Chapter 141 to establish a refundable Kentucky child credit for taxpayers with qualifying children under the age of six; authorize a maximum credit of $1,000 per qualifying child for individuals with income below $50,000 for single taxpayers and $100,000 for married taxpayers filing jointly; provide that individuals with incomes above the specified thresholds may be eligible for a reduced child credit; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow the Department of Revenue to report on the credit.
Index Headings of Original Version	State Agencies - Department of Revenue, refundable child credit, annual report Taxation - Individual income tax, refundable child credit, establishment Taxation, Income--Individual - Refundable child credit, establishment Children and Minors - Child credit against taxes imposed for qualifying children under six years, refundable Reports Mandated - Department of Revenue, refundable child credit, annual report