Bill > HB2687

This bill establishes a child income tax credit in the state of Kansas. For tax year 2024 and all subsequent years, the bill allows a credit against the state income tax for residents with qualifying children, with the credit amount varying based on the taxpayer's Kansas adjusted gross income. The credit is refundable, meaning any excess amount over the taxpayer's liability will be refunded. The bill also requires the Kansas Department of Revenue to submit an annual report on the child tax credit to the state legislature. The bill defines a "qualifying child" based on their relationship to the taxpayer, living arrangement, age, and financial independence.