Income tax, state; low-income taxpayer tax credit. (HB598)
Introduced By
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Low-income taxpayer tax credit. Allows low-income individuals and married persons to claim a refundable income tax credit equal to 10 percent of the federal earned income tax credit claimed by the individual or married persons for the year in lieu of the current options available for claiming the credit. Under current law, low-income individuals and married persons may claim (i) a nonrefundable income tax credit equal to $300 for each of the individual, his spouse, and any dependents or (ii) a nonrefundable income tax credit equal to 20 percent of the federal earned income tax credit claimed by the individual or married persons for the year. The provisions of the bill would become effective beginning with taxable year 2016. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/11/2016 | Committee |
01/11/2016 | Prefiled and ordered printed; offered 01/13/16 16101045D |
01/11/2016 | Referred to Committee on Finance |
01/19/2016 | Assigned to sub: Subcommittee #3 |
01/19/2016 | Assigned Finance sub: Subcommittee #3 |
01/23/2016 | Impact statement from TAX (HB598) |
01/29/2016 | Subcommittee recommends laying on the table |
02/17/2016 | Left in Finance |