House Bill No. [insert bill number] proposes the establishment of a child tax credit for Montana resident taxpayers. The bill allows a refundable credit of $1,200 for each qualifying child aged five 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 any excess credit over the taxpayer's liability will be refunded.

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 bienniums. The bill also includes provisions for codification and specifies that the act 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(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