(a) (1) In this section the following words have the meanings indicated.

(2) “Qualified child” means a dependent of a taxpayer, if the dependent:

(i) is a dependent for purposes of § 152 of the Internal Revenue Code; and

(ii) 1. is under the age of 17 years; and

2. is a child with a disability, as defined under § 8-401 of the Education Article.

(3) “Taxpayer” means:

(i) an individual filing an income tax return; or

(ii) a married couple filing a joint income tax return.

(b) A taxpayer who has federal adjusted gross income for the taxable year of $6,000 or less may claim a credit against the State income tax for each qualified child in an amount equal to $500.

(c) The amount of the credit allowed under subsection (b) of this section for a qualified child shall be reduced, but not below zero, by the amount of any federal child tax credit claimed against the federal income tax for the qualified child under § 24 of the Internal Revenue Code.

(d) If the credit allowed under this section in any taxable year exceeds the State income tax for that taxable year, the taxpayer may claim a refund in the amount of the excess.