CT HB05403

Creates a Connecticut personal income tax credit for each child under age 17, with a maximum of three children per taxpayer, effective for tax years beginning January 1, 2022

Offers two credit options: $600 per child (non-refundable) or $420 per child (refundable, capped at 4.5% of federal adjusted gross income)

Credit phases out at 10% for every $1,000 of income above thresholds: $100,000 for single/married filing separately, $160,000 for head of household, and $200,000 for married filing jointly

Applies only to Connecticut residents who validly claim children as dependents on their federal income tax return