WV HB2952

Creates a refundable state child tax credit equal to 50% of the federal child and dependent care tax credit allowed under 26 U.S.C. §21

Applies to resident individuals who claim a federal child tax credit for an eligible child on their federal tax return

Takes effect for tax years beginning on or after January 1, 2025

Any credit amount exceeding the taxpayer's state income tax liability is refunded to the individual

Defines "eligible child" as a qualifying child for purposes of the federal child tax credit in the taxable year claimed