Utah 2025 Regular Session

Utah House Bill HB0316 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	01-24 11:40 H.B. 316
2	2	1
3	3	Child Tax Credit Amendments
4	4	2025 GENERAL SESSION
5	5	STATE OF UTAH
6	6	Chief Sponsor: Mark A. Strong
7	7	Senate Sponsor:
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9	9
10	10	3
11	11	LONG TITLE
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13	13	General Description:
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15	15	This bill modifies the individual income tax credit for child dependents.
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17	17	Highlighted Provisions:
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19	19	This bill:
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21	21	▸ allows a taxpayer to claim the nonrefundable child tax credit for child dependents under
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23	23	one year old and up to five years old.
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25	25	Money Appropriated in this Bill:
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27	27	None
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29	29	Other Special Clauses:
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31	31	This bill has retrospective operation.
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33	33	Utah Code Sections Affected:
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35	35	AMENDS:
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37	37	59-10-1047, as last amended by Laws of Utah 2024, Chapter 235
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39	39
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41	41	Be it enacted by the Legislature of the state of Utah:
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43	43	Section 1. Section 59-10-1047 is amended to read:
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45	45	59-10-1047 . Nonrefundable child tax credit.
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47	47	(1) As used in this section:
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49	49	(a) "Joint filing status" means the same as that term is defined in Section 59-10-1018.
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51	51	(b) "Head of household filing status" means the same as that term is defined in Section
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53	53	59-10-1018.
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55	55	(c) "Married filing separately status" means a married individual who:
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57	57	(i) does not file a single federal individual income tax return jointly with that married
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59	59	individual's spouse for the taxable year; and
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61	61	(ii) files a single federal individual income tax return for the taxable year.
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63	63	(d) "Modified adjusted gross income" means the sum of the following for a claimant or,
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65	65	if the claimant's federal individual income tax return is allowed a joint filing status,
66	66	H.B. 316 H.B. 316 01-24 11:40
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68	68	the claimant and the claimant's spouse:
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70	70	(i) adjusted gross income for the taxable year for which a tax credit is claimed under
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72	72	this section;
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74	74	(ii) any interest income that is not included in adjusted gross income for the taxable
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76	76	year described in Subsection (1)(d)(i); and
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78	78	(iii) any addition to adjusted gross income required by Section 59-10-114 for the
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80	80	taxable year described in Subsection (1)(d)(i).
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82	82	(e) "Qualifying child" means an individual:
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84	84	(i) with respect to whom the claimant is allowed to claim a tax credit under Section
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86	86	24, Internal Revenue Code, on the claimant's federal individual income tax return
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88	88	for the taxable year; and
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90	90	(ii) who is [at least one year old and younger than five] under six years old on the last
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92	92	day of the claimant's taxable year.
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94	94	(f) "Single filing status" means a single individual who files a single federal individual
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96	96	income tax return for the taxable year.
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98	98	(2) Subject to Subsection 59-10-1002.2, a claimant may claim a nonrefundable tax credit of
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100	100	$1,000 for each qualifying child.
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102	102	(3) A claimant may not carry forward or carry back the amount of the tax credit that
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104	104	exceeds the claimant's tax liability.
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106	106	(4) The tax credit allowed by Subsection (2) claimed on a return filed under this part shall
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108	108	be reduced by $.10 for each dollar by which modified adjusted gross income for
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110	110	purposes of the return exceeds:
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112	112	(a) for a federal individual income tax return that is allowed a married filing separately
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114	114	status, $27,000;
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116	116	(b) for a federal individual income tax return that is allowed a single filing status or head
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118	118	of household filing status, $43,000; and
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120	120	(c) for a federal individual income tax return that is allowed a joint filing status, $54,000.
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122	122	Section 2. Effective Date.
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124	124	This bill takes effect on May 7, 2025.
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126	126	Section 3. Retrospective operation.
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128	128	This bill has retrospective operation for a taxable year beginning on or after January 1,
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130	130	2025.
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