AN ACT relating to an eligible child tax credit.
Create a new section in KRS Chapter 141 to establish a nonrefundable individual income tax credit for an eligible child; define "eligible child"; allow credit for taxable years beginning on or after January 1, 2027, but before January 1, 2031; establish that the credit amount is equal to $4,000 per eligible child, not to exceed $8,000 per return, per taxable year; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow the Department of Revenue to report on the credit.
Taxation
Education, Elementary and Secondary
Taxation, Income--Individual
Children and Minors
Reports Mandated
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