Senate Bill No. [insert bill number] aims to provide various tax credits to support families with children and child-care workers in Montana. The bill introduces a child tax credit of $1,200 for each qualifying child under the age of 2, with adjustments for inflation and income thresholds. It also establishes a credit for child-care workers, allowing them to claim $1,600 if they meet specific employment criteria. Additionally, the bill includes a business-supported dependent care credit for employers who provide dependent care assistance, with a maximum credit of $5,000, which is also subject to inflation adjustments.

The bill amends Section 15-30-2303 of the Montana Code Annotated to include the new tax credits in the review process by the revenue interim committee, ensuring that these credits are evaluated for their effectiveness and impact on taxpayers. The legislation also includes provisions for annual adjustments based on inflation and defines key terms related to the credits. The act is set to apply to income tax years beginning after December 31, 2025.

Statutes affected:
LC Text: 15-30-2303
SB0321_1(1): 15-30-2303
SB0321_1(2): 15-30-2303
SB0321_1(3): 15-30-2303
SB0321_1(4): 15-30-2303
SB0321_1(5): 15-30-2303
SB0321_1(6): 15-30-2303
SB0321_1: 15-30-2303
SB0321_2(1): 15-30-2303
SB0321_2(10): 15-30-2303
SB0321_2(11): 15-30-2303
SB0321_2(12): 15-30-2303
SB0321_2(13): 15-30-2303
SB0321_2(2): 15-30-2303
SB0321_2(3): 15-30-2303
SB0321_2(4): 15-30-2303
SB0321_2(5): 15-30-2303
SB0321_2(6): 15-30-2303
SB0321_2(7): 15-30-2303
SB0321_2(8): 15-30-2303
SB0321_2(9): 15-30-2303
SB0321_2: 15-30-2303
SB0321_3(1): 15-30-2303
SB0321_3(2): 15-30-2303
SB0321_3(3): 15-30-2303
SB0321_3(4): 15-30-2303
SB0321_3(5): 15-30-2303
SB0321_3(6): 15-30-2303
SB0321_3(7): 15-30-2303
SB0321_3(8): 15-30-2303
SB0321_3: 15-30-2303