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2000 SESSION

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SB 493 Income tax; earned tax credit for low-income families with children.

Introduced by: Linda T. (Toddy) Puller | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax; earned income tax credit for low-income families with children. Provides a non-refundable earned income tax credit for taxable years beginning January 1, 2000, to individuals with at least one dependent child and whose family adjusted gross income does not exceed the amounts outlined in the federal poverty guidelines. The credit shall equal the greater of (i) 75 percent of the federal earned-income tax credit allowed the individual or (ii) $300 for each eligible child.


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