Bill > HR4520

This bill, the Reignite Hope Act of 2023, has two key provisions: 1. It establishes a $3,500 tax credit for employers who hire "critical employees" such as healthcare professionals, law enforcement officers, firefighters, and childcare providers, as long as the employee's primary place of employment is located in a qualified opportunity zone. This credit is available for the next 3 years. 2. It makes permanent certain expiring provisions related to the child tax credit, including maintaining the credit amount at $3,500 per qualifying child ($4,500 for children under 6) and making 15.3% of earned income refundable. It also repeals more recent changes to the child tax credit, such as the advanced payment and phase-out provisions.