S.641

Reenacts the child tax credit in North Carolina to incentivize parenthood and reduce child poverty.

The bill reenacts the child tax credit in North Carolina, providing financial relief to families with children. It allows taxpayers who qualify for the federal child tax credit to claim a credit against their state tax. The credit amount varies based on the taxpayer's adjusted gross income and filing status, with a maximum of $1,900 for children under six and $1,600 for other qualifying children. The bill aims to incentivize parenthood, reduce child poverty, and support families with the cost of raising children.