The proposed bill, General Assembly Proposed Bill No. 119, aims to amend chapter 229 of the general statutes to introduce a child tax credit of five hundred dollars per child, applicable for up to three children. This credit is designed for tax filers who belong to asset-limited, income-constrained, employed households, as identified in the latest annual report by the United Way of Connecticut. To qualify, tax filers must have a federal adjusted gross income of less than one hundred thousand dollars for single filers or two hundred thousand dollars for married couples filing jointly. Additionally, they must have earned taxable compensation and been employed full-time for at least nine months during the taxable year.

The bill does not specify any deletions from current law but focuses on the insertion of the new child tax credit provisions. The intent of the legislation is to provide financial relief to families with children, thereby supporting those who are employed but still face economic constraints.