RELATING TO A CHILD TAX CREDIT.

SB 1053 would create a refundable child tax credit for families with children in the state. This credit would directly benefit low- and middle-income households with dependent children, providing them with financial support they can receive even if they owe no state income tax. The bill specifies the credit would apply to tax years starting after December 31, 2025, meaning it would take effect for 2026 tax filings. It establishes a concrete policy change by guaranteeing a direct cash payment to eligible families based on the number of qualifying children.