NE LB157

Creates a $1,000 refundable tax credit per qualifying child (age 6 or younger) for Nebraska taxpayers beginning January 1, 2026

Phases out the credit based on filing status and income: married filing jointly over $110,000, head of household over $92,500, and other filers over $75,000

Credit amounts and income thresholds will be adjusted annually for inflation starting January 1, 2027

Child Tax Credit refunds are exempt from attachment, garnishment, and creditor claims in bankruptcy proceedings

Department of Revenue must submit annual reports to the Legislature on credit usage beginning in 2027