Add Nebraska LB 157 Child Tax Credit reform

[DTrim99]

Summary

Implement Nebraska LB 157 (the "Child Tax Credit Act") as a contributed reform.

Bill Details

• Bill: LB 157
• Sponsor: Conrad, 46
• Introduced: January 13, 2025

Key Provisions

Credit Amount

• $1,000 per qualifying child, fully refundable

Qualifying Child

• Age 6 or younger at end of taxable year
• Claimed as dependent on federal return
• Has SSN or ITIN

Phase-out Structure

Credit phases out at 5% per income increment above thresholds:

Filing Status	Threshold	Increment
Married Filing Jointly	$110,000 AGI	$2,000
Head of Household	$92,500 AGI	$1,500
All Other Filers	$75,000 AGI	$1,000

Effective Date

• Tax years beginning on or after January 1, 2026
• Inflation adjustment starting January 1, 2027 (indexed to same CPI as Nebraska income tax brackets)

Implementation Approach

Implement as a contributed reform at gov.contrib.states.ne.ctc.lb157 since this is pending legislation.

References

• LB 157 Bill Text

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