Creating a child tax credit available against the individual income tax, and including retroactive applicability provisions

Where it is now

1. ✓
   Done: IntroducedFebruary 7, 2024
2. ✓
   Done: SubcommitteeFebruary 15, 2024
3. ✕
   Stopped: Senate committeeDied when the General Assembly ended
4. Next: Passes the Senate
5. Next: House committee
6. Next: Passes the House
7. Next: To the Governor
8. Next: Signed into law

Died when the session ended The General Assembly adjourned on April 19, 2024. Bills that didn’t pass both chambers died. What’s a funnel?

What’s in it

This bill creates a child tax credit available against the individual income tax. Under the bill, the child tax credit is a refundable tax credit available for a taxpayer based upon the income of the taxpayer and the number of dependent children the taxpayer has under years of age. The tax credit is refundable and in lieu of claiming a refund, the taxpayer may elect to have the overpayment shown on the taxpayer’s final, completed return credited to the tax liability for the following tax year. The bill requires nonresidents or part-year residents of this state to determine their tax credit in the ratio of their Iowa source net income to their all source net income.

From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text

Senate subcommittee

Named February 15, 2024. It hasn’t reported yet.

• Sen. Carrie Koelker REmail
• Sen. Dan Dawson REmail
• Sen. Pam Jochum D

Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part

Iowa Code it changes

Creates§422.12P

Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works