SB81

Kentucky SB81 establishes a Kentucky child credit for qualifying children under age six.

Kentucky SB81 creates a new Kentucky child credit for taxpayers with qualifying children under the age of six. The credit is available to individuals with modified gross incomes below certain thresholds and is reduced for incomes above these thresholds. The credit amount is $1,000 per qualifying child, with a reduction of $10 for every dollar over the income limits. The bill also mandates that the Department of Revenue report annually to the Legislative Research Commission on the credit's usage by taxpayer, county, and income range.