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2000 SESSION

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HB 1105 Income tax; earned-income tax credit.

Introduced by: Brian J. Moran | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Income tax; earned-income tax credit. Provides a refundable earned-income tax credit to individuals with a dependent child under age 18 equal to 10 percent of the federal earned-income credit allowed under § 32 (a) (1) of the Internal Revenue Code for taxable years beginning January 1, 2001. Taxpayers receive a refund equal to the amount their credit exceeds their tax liability for the taxable year. Also requires federal approval for TANF funds to be used to pay the refundable portion.


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