MT HB220

Creates a $1,200 refundable state tax credit per qualifying child aged 5 years or younger for Montana resident taxpayers who also qualify for the federal child tax credit

Credit phases out at $90 per $1,000 of income above $50,000, fully eliminating at $56,000 federal adjusted gross income regardless of filing status

Taxpayers with no state tax liability may receive the full credit amount as a refund

Adds the new child tax credit to the list of credits subject to periodic review by the revenue interim committee during the biennium starting July 1, 2021, and every 8 years thereafter

Applies to tax years beginning after December 31, 2025