This bill proposes an amendment to Minnesota Statutes 2024, Section 290.0661, to establish a "baby bonus" within the Minnesota child tax credit. The amendment would:

• Increase the child tax credit by $400 for each qualifying child born during the taxable year.
  
• Exclude this additional credit from calculations related to a taxpayer’s minimum credit amount.
  
• Allow for advance payment of the baby bonus, if a process is established by the commissioner.
  

In summary, this bill seeks to provide financial support to families by granting an extra $400 tax credit for newborns in the year of birth.