Gaining Momentum: How the Foster Youth Tax Credit Performed in 2024

This webinar marked the release of JBAY’s 2024 publication summarizing findings from the second year of implementation of the California Foster Youth Tax Credit (FYTC), a refundable tax credit for current and former foster youth. In 2024, the FYTC made significant gains to increase economic security among current and former foster youth in California, highlighted in the publication and webinar. 

Between 2023 and 2024, the number of individuals who claimed the FYTC increased 17% from 4,782 to 5,587, and the rate of FYTC receipt among eligible youth grew from 13% to 15%. 

Collectively, youth received a total of $5.98 million from the FYTC alone, and when combined with other state and federal tax credits, they received over $12 million. The average tax return for youth who are not parenting was $1,370, and for youth who are custodial parents it was $5,265.