ARIZONA HOUSE OF REPRESENTATIVES

Fifty-sixth Legislature

First Regular Session

House: WM DP 6-4-0-0

HB 2501: dependent tax credit; additional amount

Sponsor: Representative Gress, LD 4

Caucus & COW

Overview

Adds that the dependent tax credit amount allowed may be increased when a dependent is born prorated upon the number of months the taxpayer or taxpayers spouse was pregnant during the previous taxable year.

History

A dependent tax credit for taxpayers is allowed in the following amounts:

Less than $200,000 for a single person, married filing separately or head of household, and less than $400,000 for married filing jointly.
$100 for each dependent under 17 years old	$25 for each dependent at least 17 years old
At least $200,000 for a single person, married filing separately or head of household, and at least $400,000 for married filing jointly.
$100 minus 5% for each $1,000 by which the taxpayer's FAGI exceeds the applicable threshold for each dependent under 17 years old at the end of the taxable year.	$25 minus 5% for each $1,000 by which the taxpayer's FAGI exceeds the applicable threshold for each dependent at least 17 years old at the end of the taxable year.

(A.R.S. 43-1073.01)

Provisions

1. Adds that a taxpayer who is or whose spouse is pregnant may increase their credit amount allowed for the taxable year in which the dependent is born prorated based on the number of months the taxpayer or taxpayers wife was pregnant during the previous year. (Sec.1)

2. Applies effective January 1, 2023. (Sec. 2)

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6. HB 2501

7. Initials VP/AA Page 0 Caucus & COW

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