The Home Run for Kids Act creates a new tax credit of up to $200 per year for parents and guardians who pay for sports equipment when their dependent children participate in organized youth sports programs. The credit applies to equipment expenses for organized sports, games, or hobbies serving children under age 19, but it phases out for higher-income taxpayers—beginning to decrease for families with modified adjusted gross income over $150,000 and disappearing entirely at $215,000. This is a nonrefundable credit, meaning it can only reduce the taxes owed rather than generate a refund. The bill became effective for tax year 2024, allowing families to claim eligible expenses starting with their 2024 tax returns.
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