Relates to tax credits for residents of certain cities

Bill A 8176 modifies tax credits for residents of cities with a population over one million. It introduces income-based reductions to the existing school tax reduction credit, where the credit amount decreases for taxpayers whose income exceeds certain thresholds. The bill also establishes a new refundable child tax credit of $300 per qualifying child for these residents. This new child tax credit is also subject to income limitations and requires a social security number or individual taxpayer identification number for each child claimed.