Child tax credit advance payments repeal

SF 2673 repeals Minnesota's program allowing families to receive advance payments of the child tax credit during the year instead of waiting for a tax refund. It removes the option for taxpayers to elect advance payments under Minnesota Statutes §290.0661, subdivisions 8 and 9, effective for tax years beginning after December 31, 2025. This means families will no longer be able to receive monthly or quarterly child tax credit payments and must instead claim the full credit when filing their annual state income tax return. The bill directly affects Minnesota households that currently choose to receive advance payments of the state child tax credit.