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2024 SESSION

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HB 969 Child tax credit; creates a credit for taxable years 2024 through 2028.

Introduced by: Kathy K.L. Tran | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Child tax credit. Creates a tax credit for taxable years 2024 through 2028 for individuals whose households include dependents younger than the age of 18. The bill provides that the amount of the credit will be equal to $500 for each such dependent for an individual or married persons filing a joint return whose family Virginia adjusted gross income, as defined by Virginia code, does not exceed $100,000. The bill provides that if the taxpayer is a resident of the Commonwealth for the full taxable year, and the amount of such credit exceeds the taxpayer's liability for the taxable year, the excess shall be refunded by the Tax Commissioner.

FULL TEXT

• 01/09/24  House: Prefiled and ordered printed; offered 01/10/24 24100763D  pdf | impact statement

HISTORY

• 01/09/24  House: Prefiled and ordered printed; offered 01/10/24 24100763D
• 01/09/24  House: Referred to Committee on Finance
• 02/02/24  House: Assigned Finance sub: Subcommittee #3
• 02/05/24  House: Subcommittee recommends continuing to 2025 (7-Y 0-N)
• 02/07/24  House: Continued to 2025 in Finance by voice vote