h_fin_2016a_2016-04-13t13:32:26z4 Hearing Summary

Date: 04/13/2016

04:59 PM -- HB16-1292



Representative Kagan, sponsor, introduced House Bill 16-1292. For tax years 2016, 2017, and 2018, this bill creates a $3,600 refundable income tax credit for taxpayers claiming both a child and a relative as dependents on their federal income tax return. To qualify, taxpayers must have a federal adjusted gross income at or below 200 percent of the national median household income of its size and claim both a child and relative as a dependent. Taxpayers will receive the full $3,600 if they qualify for the credit under this bill as refundable tax credits, which are not limited to a taxpayer's income tax liability. Representative Kagan gave some remarks on the bill and asked that the bill be postponed indefinitely.