Bill > HB2643

This bill establishes three new provisions: 1. The "Missouri Child Tax Credit Act", which allows qualified taxpayers (resident individuals subject to Missouri income tax) to claim a refundable tax credit of up to $1,800 per qualified child under 6 years old or $1,500 per qualified child 6-16 years old, with a cumulative limit of $10,000 or 6 credits per year. The credit can be claimed in advance through monthly payments or on the taxpayer's Missouri income tax return. 2. A caregiver tax credit, which provides a $5,000 refundable tax credit to eligible caregivers (individuals providing at least 10 hours per week of personal care services to qualified care recipients who are 65+ or disabled). 3. A $5,000 refundable tax credit for qualified individuals (Missouri residents with $100,000 or less in Missouri adjusted gross income, who are 65+ or disabled, and require assistance with activities of daily living). The bill provides administrative details for claiming the credits and requires the Department of Revenue to promulgate rules for implementation. The provisions are subject to a 6-year sunset unless reauthorized by the legislature.

Justice

https://house.mo.gov/Bill.aspx?bill=HB2643&year=2024&code=R