CT SB00076

Creates a $500 personal income tax credit per qualifying child or dependent

Eligible dependents include: children under 17, disabled dependents or disabled spouses residing with the taxpayer for more than half the year, and non-spouse dependents age 65 or older

Credit phases out at 10% for each $1,000 of adjusted gross income above the threshold

Income phase-out thresholds: $200,000 for unmarried individuals, married filing separately, and heads of household; $400,000 for married couples filing jointly