Menstrual Products Tax Credit Act of 2016

This bill amends the Internal Revenue Code to provide taxpayers with a refundable tax credit of $120 for each individual: (1) for whom a taxpayer is allowed a deduction for a personal exemption, and (2) who uses menstrual products. The credit must be adjusted for inflation after 2017 and is limited to taxpayers with modified adjusted gross incomes below specified amounts.

The Department of Health and Human Services must determine and provide the Internal Revenue Service with a definition for "menstrual products," which must include tampons, pads, liners, cups, and similar products used by women with respect to menstruation.