Gov. Ivey signs child tax credit bill, providing relief to Alabama families
MONTGOMERY, Ala. (WSFA) - Gov. Kay Ivey has signed House Bill 231, the child tax credit bill, into law.
The bill, sponsored by Rep. Jim Carns, R-HD 48 and Sen. Dan Roberts, R-SD 15, allows families who received the child tax credit to save money on their taxes this year. The amount will be based on the number of children in the household.
“If you have two children, this is probably right around $200 that they will not pay,” explained Sen. Dan Roberts, sponsor of SB152, the Senate version. “They’ll get a tax credit on it and save them $200 in taxes.”
Specifically, the bill allows individual taxpayers to calculate their federal income tax deduction without consideration of certain items allowed under the American Rescue Plan Act.
If you have already filed your taxes, legislators say you’ll need to make an amendment to what you’ve filed.
The governor’s office said the bill is projected to save Alabamians tens of millions of dollars.
Copyright 2022 WSFA 12 News. All rights reserved.