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 definitions, eligibility criteria, and the process for claiming the credit.

Additionally, the bill amends section 71.10 (4) (i) to include the stillbirth tax credit among other tax credits. It specifies that the credit is not available to part-year residents or nonresidents, and it sets various limitations on how the credit can be claimed, particularly for married couples and unmarried parents. The bill also requires claimants to provide proof of eligibility, such as a fetal death report, when filing their tax returns. The act is set to apply to taxable years beginning on January 1 of the year it takes effect, with specific provisions for its applicability based on the timing of its enactment.

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