Amends school tax reduction credit and implements child tax credit for residents of cities with a population over one million.

This bill amends the school tax reduction credit for residents of cities with a population over one million and implements a child tax credit in such cities. The credit amount is determined based on the taxpayer's income, with reductions for higher incomes. The credit amount cannot be reduced below zero. The bill also requires the commissioner of taxation and finance to publicize the child tax credit. The changes take effect immediately and apply to taxable years beginning after the effective date of the bill.

Amends school tax reduction credit and implements child tax credit for residents of cities with a population over one million.

This bill amends the school tax reduction credit for residents of cities with a population over one million and implements a child tax credit in such cities. The credit amount is determined based on the taxpayer's income, with reductions for higher incomes. The credit amount cannot be reduced below zero. The bill also requires the commissioner of taxation and finance to publicize the child tax credit. The changes take effect immediately and apply to taxable years beginning after the effective date of the bill.