HR 7547
118th Congress
House
Taxation
Young Adult Tax Credit Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 5, 2024
Referred to the House Committee on Ways and Means.
Mar 5, 2024
Introduced in House
Plain-English summary
Young Adult Tax Credit Act
This bill allows a refundable young adult tax credit and a monthly advance payment of such credit. The bill defines young adult as an individual who is at least age 18, but not yet 25, and is either a citizen, national, or resident of the United States.
The amount of such credit is the sum of $500 for each taxpayer or taxpayer dependent who is a young adult in any calendar month.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1