Child tax credit.25LSO-0438, 1.0
HB0104
FISCAL NOTE
This bill contains an appropriation of $5,000,000 from the GENERAL FUND to the
Department of Revenue (DOR). This appropriation is effective immediately.
DETAIL OF APPROPRIATION
Agency #: 011 Agency Name: Department of Revenue
Unit: (new) Child tax credit
EXPENDITURE BY SERIES AND YEARFY 2025FY 2026FY 20270600 Grant & Aid Payments$0 $5,000,000 $0 Total Expenditure Per Year:$0 $5,000,000 $0 Grand Total Expenditure:$5,000,000 Total Appropriated to Agency:$5,000,000 Total Appropriated by Fund:GENERAL FUND$5,000,000
Description of appropriation:
The appropriation would be expended to provide the proposed child tax credit
refunds of up to $200 per child for taxes paid in the 2025 tax year. The $5.0
million appropriation would fully fund 25,000 refunds of $200 per child. If funds
appropriated are insufficient to provide full refunds, refunds will be prorated
based on available funds and the number and amount of approved refunds. The
United States Census Bureau estimates 129,652 children under 18 years of age in
Wyoming in 2023. The DOR assumes successful tax credit applications for roughly
50 percent of the children in Wyoming. The additional funding necessary for this
assumption is included in the DOR’s Agency Estimate of Administrative Impact.
FY 2026FY 2027FY 2028NON-ADMINISTRATIVE IMPACTAnticipated Expenditure increaseGENERAL FUND$0 $5,000,000 $5,000,000
Source of expenditure increase:
The appropriation in the bill will be included in the DOR’s standard budget in
the 2027-28 biennium, resulting in increased expenditures for the proposed child
tax credit in FY 2027 and FY 2028.
Assumptions:
The above estimate assumes 25,000 child tax credit refunds per year of $200 per
credit. The United States Census Bureau estimates 129,652 children under 18 years
of age in Wyoming in 2023. Child tax credit.25LSO-0438, 1.0
HB0104
NOTICE-AGENCY ESTIMATE OF ADMINISTRATIVE IMPACT REQUESTED
This bill has administrative impact that appears to increase duties or
responsibilities of one or more state agencies and may impact agency spending or
staffing requirements. As introduced, the bill does not modify any current
personnel authorizations.
The following state agencies will be asked to provide their estimate of the
administrative fiscal impact prior to the first committee meeting held to
consider the bill:
Department of Revenue
Prepared by: Dean Temte, LSO Phone: 777-7881
(Information provided by Kenneth Guille, Department of Revenue, 777-5235;
Wenlin Liu, Division of Economic Analysis, 777-7702)