This bill, HB 6072, aims to establish a child tax credit in Rhode Island, providing a tax credit of $1,000 for each dependent child up to the age of eighteen. To qualify for this credit, taxpayers must have a total income that does not exceed $100,000 for single-filer households or $150,000 for dual-filer households. If the amount of the credit exceeds the taxpayer's tax liability, the division of taxation will treat the excess as an overpayment and will pay the taxpayer the full amount of the excess.

The bill includes new provisions related to the child tax credit and specifies the income thresholds for eligibility. It will take effect upon passage.

Statutes affected:
6072: 44-30-2