Bill > HB813

This bill establishes the Missouri Child Tax Credit Act, which creates a refundable income tax credit for qualified taxpayers with dependent children. The credit provides $7,200 annually for each child under seven years old and $3,600 for each child between seven and seventeen years old. To be eligible, taxpayers must be Missouri residents with income below $75,000 for single filers or $150,000 for married couples filing jointly, and have children who are dependents, under 18, living with them for more than half the year, and not supporting themselves. The bill allows taxpayers to receive the credit through monthly advance payments of $600 per child under seven and $300 per child seven and older, or claim the full credit when filing their state tax return. Taxpayers can claim up to six credits per tax year, and the credit is in addition to federal child tax credits. The program will begin in 2026, with the Department of Revenue managing applications and payments, and includes provisions for annual inflation adjustments. The tax credit program is set to automatically sunset after six years unless reauthorized by the state legislature, and the department is required to produce an annual report on the program's effectiveness.

https://house.mo.gov/Bill.aspx?bill=HB813&year=2025&code=R