House Bill No. introduced by various representatives aims to establish a child tax credit for Montana resident taxpayers. The bill allows a refundable credit of $1,200 for each qualifying child aged 5 years or younger, with the credit being subject to a reduction of $90 for every $1,000 of federal adjusted gross income exceeding $50,000. Taxpayers whose federal adjusted gross income exceeds $56,000 are not eligible for the credit. The credit can be claimed by filing a Montana income tax return, and if the credit exceeds the taxpayer's tax liability, they are entitled to a refund.

Additionally, the bill amends Section 15-30-2303 of the Montana Code Annotated to include the new child tax credit among the tax credits that must be reviewed by the revenue interim committee. This review will occur during the biennium commencing July 1, 2021, and in subsequent biennia. The bill also includes provisions for codification and specifies that it will apply to income tax years beginning after December 31, 2025.

Statutes affected:
LC Text: 15-30-2303
HB0220_1(1): 15-30-2303
HB0220_1(10): 15-30-2303
HB0220_1(11): 15-30-2303
HB0220_1(12): 15-30-2303
HB0220_1(13): 15-30-2303
HB0220_1(14): 15-30-2303
HB0220_1(15): 15-30-2303
HB0220_1(16): 15-30-2303
HB0220_1(17): 15-30-2303
HB0220_1(18): 15-30-2303
HB0220_1(19): 15-30-2303
HB0220_1(2): 15-30-2303
HB0220_1(20): 15-30-2303
HB0220_1(21): 15-30-2303
HB0220_1(22): 15-30-2303
HB0220_1(23): 15-30-2303
HB0220_1(24): 15-30-2303
HB0220_1(25): 15-30-2303
HB0220_1(26): 15-30-2303
HB0220_1(27): 15-30-2303
HB0220_1(28): 15-30-2303
HB0220_1(29): 15-30-2303
HB0220_1(3): 15-30-2303
HB0220_1(30): 15-30-2303
HB0220_1(31): 15-30-2303
HB0220_1(32): 15-30-2303
HB0220_1(33): 15-30-2303
HB0220_1(34): 15-30-2303
HB0220_1(35): 15-30-2303
HB0220_1(36): 15-30-2303
HB0220_1(37): 15-30-2303
HB0220_1(38): 15-30-2303
HB0220_1(39): 15-30-2303
HB0220_1(4): 15-30-2303
HB0220_1(40): 15-30-2303
HB0220_1(41): 15-30-2303
HB0220_1(42): 15-30-2303
HB0220_1(43): 15-30-2303
HB0220_1(44): 15-30-2303
HB0220_1(45): 15-30-2303
HB0220_1(46): 15-30-2303
HB0220_1(47): 15-30-2303
HB0220_1(48): 15-30-2303
HB0220_1(49): 15-30-2303
HB0220_1(5): 15-30-2303
HB0220_1(6): 15-30-2303
HB0220_1(7): 15-30-2303
HB0220_1(8): 15-30-2303
HB0220_1(9): 15-30-2303
HB0220_1: 15-30-2303