Bill > HB2

This bill establishes a new Missouri Child Tax Credit that provides refundable tax credits for qualifying taxpayers with dependent children, offering significant financial support for families. The tax credit will be available starting in 2026 and provides $7,200 annually for children under seven years old and $3,600 for children between seven and seventeen years old, with the option to receive these credits as monthly advance payments of $600 or $300 per child, respectively. To qualify, taxpayers must be Missouri residents with adjusted gross incomes at or below $75,000 for single/head of household filers or $150,000 for married couples filing jointly, and the children must be claimed as dependents, under 18, living with the taxpayer for more than half the year, and not providing their own primary support. The program includes provisions for application, verification, and administration, with the Department of Revenue responsible for managing the program, and includes an automatic sunset provision after six years unless reauthorized. Importantly, the tax credit is designed to be in addition to federal child tax credits and will be adjusted annually for inflation beginning in 2027, with the goal of reducing child poverty and supporting family economic stability.

https://house.mo.gov/Bill.aspx?bill=HB2&year=2025&code=S1