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2023 SESSION

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SB 1529 Right to life; tax credit for each birth of a dependent member of a taxpayer's household.

Introduced by: Siobhan S. Dunnavant | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Right to life tax credit. Allows a refundable income tax credit of $250 for each birth of a dependent member of a taxpayer's household that occurs in taxable years 2023 through 2027. The credit is only available to a family with an annual household income that is not in excess of 400 percent of the current poverty guidelines and is subject to an aggregate cap of $25 million per taxable year. Credits shall be allocated on a pro rata basis if applications exceed such aggregate cap.


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