Senate Bill 379 proposes the creation of a refundable individual income tax credit of $2,000 for parents who experience a stillbirth, defined as a birth resulting in a stillbirth for which a fetal death report is required. The bill outlines that if the credit exceeds the claimant's tax liability, the excess amount will be refunded. To facilitate this, the bill introduces new sections in the statutes, specifically creating sections 20.835 (2) (cd) and 71.07 (8n), which detail the credit's administration, eligibility requirements, and the necessary proof of eligibility, such as a fetal death report.

Additionally, the bill amends section 71.10 (4) (i) to include the stillbirth tax credit among other tax credits. It specifies limitations on who can claim the credit, including restrictions for part-year residents and nonresidents, and sets conditions for married couples and unmarried parents regarding the maximum claim amounts. The act is set to apply to taxable years beginning on January 1 of the year it takes effect, with provisions for applicability if enacted after July 31.

Statutes affected:
Bill Text: 71.10(4)(i), 71.10