2 February 2024
WICHITA, Kan. (KSNW) – Kansas parents may see new tax relief as soon as 2025.
A bill to create a “State Child Tax Credit” was introduced to the legislature on Thursday. It would give families money on a sliding scale.
Parents and caregivers could get up to $600 in tax credits per child per year on their tax returns. Every parent of a child under 18 would get a credit, but how much depends on their annual household income.
In the bill introduced today, the vast majority of the money set aside would go to the bottom 80% of tax filers. For households who make $25,000 a year or less, they’d receive $600 per child. The lowest amount is $25 per child for households making more than $350,000.
John Wilson, the President and CEO of Kansas Action for Children, introduced the bill. He says the extra money will help parents directly with childcare, rent, food, and other expenses during a time when prices are on the rise.
“That helps especially low-income households who oftentimes aren’t eligible for other tax credits, and the beauty of this benefit is that there is also no limit on the number of children in the household who qualify for it,” said Wilson.
According to Wilson, more than a dozen states already have child tax credits in place. If approved, the tax credit will cost an estimated $145 million a year.
Wilson says those dollars would come from the state’s general fund.
This bill has not yet been set for a committee hearing. If it were to be approved, it would go into effect next tax season.