First-Time Parents Tax Credit Act

119 HR 4653 IH: First-Time Parents Tax Credit Act U.S. House of Representatives 2025-07-23 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 4653 IN THE HOUSE OF REPRESENTATIVES July 23, 2025 Mr. Figures introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to establish a refundable tax credit for first-time parents. 1. Short title This Act may be cited as the First-Time Parents Tax Credit Act . 2. First-time parents tax credit (a) In general Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 36B the following new section: 36C. First-time parents tax credit (a) Allowance of credit In the case of an eligible new parent, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to $1,250 (twice such amount in the case of two eligible new parents filing a joint return). (b) Eligible new parent For purposes of this section, the term eligible new parent means, with respect to a taxable year, a taxpayer— (1) who has not claimed the credit in a prior taxable year, and (2) who is— (A) the parent of a qualifying child (as defined in section 152(c)) who was born or adopted during the taxable year, or (B) the non-custodial parent of a child who was born or adopted in the taxable year immediately preceding the current taxable year. (c) Non-Custodial parent For purposes of this section, the term non-custodial parent means an individual— (1) whose name appears on the birth certificate of the child with respect to whom a credit is allowed under subsection (a), and (2) who can not claim such child as a qualifying child during the taxable year in which the credit under subsection (a) is allowed to such individual. . (b) Conforming amendments (1) Section 6211(b)(4) of the Internal Revenue Code of 1986 is amended by inserting 36C, after 36B, . (2) Section 1324(b)(2) of title 31, United States Code, is amended by inserting 25E, after 25A, . (3) The table of sections for subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 36B the following new item: Sec. 36C. First-time parents tax credit. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2025.