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Bill

SB 1053

RELATING TO A CHILD TAX CREDIT.

2025 Regular Session Introduced by Stanley Chang and 5 co-sponsors

SB 1053 establishes a refundable child tax credit to support low- and middle-income families, easing financial burdens and boosting local economies through increased spending.

Carried over to 2026 Regular Session.
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WeVote Research Nonpartisan
Bill Summary · SB 1053

Summary of SB 1053: Relating to a Child Tax Credit

Overview

Bill Number: SB 1053
Title: Relating to a Child Tax Credit
Introduced On: January 17, 2025
Current Status: Referred to Health, Human Services, and Ways and Means (HHS, WAM)
Classification: Bill
Subject: Refundable Child Tax Credit

SB 1053 aims to establish a refundable child tax credit to provide financial relief to families with children. This legislation is designed to support low- and middle-income families, helping to alleviate the financial burden associated with raising children.

Key Provisions

  • Refundable Child Tax Credit: The bill proposes the creation of a refundable child tax credit that families can claim on their income tax returns. This credit is intended to reduce the overall tax liability for eligible families.
  • Eligibility Criteria: While specific eligibility criteria are not detailed in the provided information, typically such credits are aimed at families with dependent children under a certain age, often 17 years old.
  • Credit Amount: The exact amount of the credit has not been specified in the current version of the bill, but it is expected to be structured to benefit families based on income levels and the number of qualifying children.

Impact

  • Beneficiaries: The primary beneficiaries of SB 1053 would be families with children, particularly those in low- to moderate-income brackets. By providing financial assistance, the bill aims to enhance the economic stability of these families.
  • Economic Implications: The implementation of a refundable child tax credit could stimulate local economies by increasing disposable income for families, allowing for greater spending on goods and services.

Legislative Process

  • Introduced: January 17, 2025
  • First Reading: January 21, 2025 (Passed)
  • Referred to Committees: January 23, 2025 (HHS, WAM)

SB 1053 is currently under consideration by the Health, Human Services, and Ways and Means committees, where it will be reviewed and potentially amended before further legislative action.

Related Legislation

  • Companion Bill: HB 694, which is related to SB 1053, may provide additional context or provisions regarding the child tax credit.

Conclusion

SB 1053 represents a significant step towards providing financial support to families with children through a refundable child tax credit. As the bill progresses through the legislative process, further details regarding eligibility and credit amounts are expected to be clarified, which will be crucial for understanding its full impact on families and the economy.

Compiled from official sources — confirm details with the bill’s official record.

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