Includes, for purposes of corporate excise tax, a corporation incorporated in the United States or a foreign country in the determination of unitary relationship among corporations.

Children Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Senator Reynolds
Last action: 2025-06-27
Official status: In Senate Committee
Effective date: Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

2025-06-27 Senate
In committee upon adjournment.
2025-01-17 Senate
Referred to Early Childhood and Behavioral Health, then Finance and Revenue, then Ways and Means.
2025-01-13 Senate
Introduction and first reading. Referred to President's desk.

Official Summary Text

Digest: The Act changes the tax reporting and filing rules for taxpayers that have non-US members. The Act directs tax revenues to use for parents and children. (Flesch Readability Score: 66.7).
Includes, for purposes of corporate excise tax, a corporation incorporated in the United States or a foreign country in the determination of unitary relationship among corporations.
Establishes the Perinatal, Child and Maternal Health Fund to fund programs to support the health and well-being of parents and young children. Transfers an amount equal to the estimated increase in revenue attributable to the change in tax treatment of multinational taxpayers to the fund.
Applies to tax years beginning on or after January 1, 2026.
Takes effect on the 91st day following adjournment sine die.
Relating to: Relating to taxation of multinational corporations; prescribing an effective date.
Current location: In Senate Committee