Personal Income Tax Law: young child tax credit.

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Personal Income Tax Law: young child tax credit.

AB 1690, as amended, Ahrens.

What This Bill Does

• AB 1690, as amended, Ahrens.
• Personal Income Tax Law: young child tax credit.
• The Personal Income Tax Law allows various credits against the taxes imposed by that law, including a young child tax credit to a qualified taxpayer in a specified amount multiplied by the earned income tax credit adjustment factor, as provided.
• That law also allows a payment from the continuously appropriated Tax Relief and Refund Account for an amount in excess of tax liability.

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

AB 1690, as amended, Ahrens.
Personal Income Tax Law: young child tax credit.
The Personal Income Tax Law allows various credits against the taxes imposed by that law, including a young child tax credit to a qualified taxpayer in a specified amount multiplied by the earned income tax credit adjustment factor, as provided. That law also allows a payment from the continuously appropriated Tax Relief and Refund Account for an amount in excess of tax liability. Existing law defines “qualified taxpayer” for this purpose to include an eligible individual, as defined, who has a qualifying child, defined to be a child younger than 6 years of age as of the last day of the taxable year, and who meets other specified criteria.
This bill, for taxable years beginning on or after January 1, 2026,
and before January 1, 2038,
would instead define a “qualifying child” to mean a child younger than
a specified age as of the last day of the
taxable year, as described.
the age limit from the prior taxable year plus one year, as described. The bill, for taxable years beginning on or after January 1, 2038, would define “qualifying child” as being a child younger than 18 years of age, as described.
By increasing the payments from the Tax Relief and Refund Account, a continuously appropriated fund, the bill would make an appropriation.
Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals that the tax expenditure will achieve, detailed performance indicators, and data collection requirements.
This bill would include additional information required for any bill authorizing a new tax expenditure.

Current Bill Text

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