Income tax, state; low-income taxpayer tax credit. (HB598)

Introduced By

Del. Ken Plum (D-Reston)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
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

DateAction
01/11/2016Committee
01/11/2016Prefiled and ordered printed; offered 01/13/16 16101045D
01/11/2016Referred to Committee on Finance
01/19/2016Assigned to sub: Subcommittee #3
01/19/2016Assigned Finance sub: Subcommittee #3
01/23/2016Impact statement from TAX (HB598)
01/29/2016Subcommittee recommends laying on the table
02/17/2016Left in Finance