To allow a $1,000 refundable child tax credit for all eligible for the federal tax credit

HB 2913 establishes a $1,000 refundable state child tax credit for West Virginia residents who qualify for the federal child tax credit. The credit, effective for tax years beginning January 1, 2025, will be refundable - meaning any amount exceeding a taxpayer's state income tax liability will be paid directly to them. It replaces West Virginia's current non-refundable child tax credit with this new refundable version, targeting families with children who meet federal eligibility criteria. The bill aims to support working families, reduce child poverty, and stimulate the state economy through direct financial assistance.