SB 12

Bill Subjects

Children And Minors Taxation Taxation, Income--Individual

Abstract

Create a new section of KRS Chapter 141 to establish a refundable Kentucky child tax 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 tax credit; amend KRS 141.0205 to order the tax credit; amend KRS 131.190 to allow the Department of Revenue to report on the tax credit.