VT H0483

Expands Vermont Child Tax Credit eligibility from children age 5 and under to children age 6 and under, maintaining the $1,000 per qualifying child refundable credit amount

Increases the state earned income tax credit for individuals without qualifying children from 38% to 100% of the federal credit (individuals with qualifying children remain at 38%)

Raises Social Security income exemption thresholds by $5,000: full exemption for single filers increases from $50,000 to $55,000 AGI (phaseout at $65,000), and for joint filers from $65,000 to $70,000 AGI (phaseout at $80,000)

Raises Civil Service Retirement System income exemption thresholds by $5,000, with the first $10,000 of CSRS income excludable under the same income limits as Social Security

Takes effect retroactively on January 1, 2025, applying to tax years beginning on or after that date