AR HB1015

Creates a $300 income tax credit per qualifying child under age 18 for individual taxpayers with net income up to $100,000 or joint filers with net income up to $200,000

Defines "qualifying child" using the federal definition in 26 U.S.C. §152(c) as it existed on January 1, 2025, limited to children who have not turned 18 by the end of the tax year

Requires the Secretary of the Department of Finance and Administration to adjust the credit amount annually based on the Consumer Price Index for All Urban Consumers

Makes the credit fully refundable, meaning taxpayers receive the excess as a refund if the credit exceeds their tax liability

Effective for tax years beginning on or after January 1, 2025