AN ACT ESTABLISHING A REFUNDABLE CHILD TAX CREDIT.

Plain English Breakdown

The exact number of children eligible for the credit is not specified in the official summary.

Act to Create a Refundable Child Tax Credit

This act establishes a new refundable child tax credit that increases over three years.

What This Bill Does

• Establishes a refundable child tax credit of $150 per child for the first year, increasing to $600 by the third year.
• Reduces the credit amount based on federal adjusted gross income thresholds.

Who It Names or Affects

• Parents or guardians who file taxes and have children under their care.

Terms To Know

Refundable tax credit

A type of tax credit that can be used to reduce the amount of tax owed, and if it exceeds the tax owed, the excess is paid out as a refund.

Limits and Unknowns

• The bill does not specify how many children are eligible for the credit.
• It is unclear when the effective date will be set after final approval.

Official Summary Text

To establish a refundable child tax credit.

Current Bill Text

LCO No. 503 1 of 1

General Assembly Proposed Bill No. 103
February Session, 2026 LCO No. 503

Referred to Committee on FINANCE, REVENUE AND
BONDING

Introduced by:
SEN. LOONEY, 11th Dist.

AN ACT ESTABLISHING A REFUNDABLE CHILD TAX CREDIT.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That chapter 229 of the general statutes be amended to establish a 1
refundable child tax credit against the personal income tax for up to 2
three children, in the amount of one hundred fifty dollars per child for 3
the taxable year commencing January 1, 2026, and phasing up to six 4
hundred dollars per child over the three taxable years next succeeding, 5
provided such amount be reduced five per cent for every one thousand 6
dollars or fraction thereof of federal adjusted gross income over (1) one 7
hundred thousand dollars for an unmarried individual or a married 8
individual filing separately, (2) one hundred sixty thousand dollars for 9
a head of household, and (3) two hundred thousand dollars for married 10
individuals filing jointly. 11
Statement of Purpose:
To establish a refundable child tax credit.