RELATING TO A CHILD TAX CREDIT.

HB 694 establishes a refundable child tax credit for families with children, directly affecting households with qualifying dependents who file state income tax returns. The credit allows eligible families to receive money back from the state even if they owe no income tax, with the amount determined by the bill's specific formula (not detailed in the abstract). It applies to tax returns filed for taxable years starting after December 31, 2025, meaning the credit would first be available for 2026 tax filings. The bill is currently in committee referral and has not yet been voted on.