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2015 SESSION

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HB 1831 Income tax, state; tax credit for low-income taxpayer.

Introduced by: Kenneth R. Plum | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

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 changes in the bill would become effective beginning with taxable year 2015.

FULL TEXT

• 01/13/15  House: Prefiled and ordered printed; offered 01/14/15 15102342D  pdf | impact statement

HISTORY

• 01/13/15  House: Prefiled and ordered printed; offered 01/14/15 15102342D
• 01/13/15  House: Referred to Committee on Finance
• 01/20/15  House: Assigned Finance sub: Subcommittee #3
• 01/30/15  House: Subcommittee recommends laying on the table by voice vote
• 02/10/15  House: Left in Finance