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2020 SESSION

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HB 1435 Low-income taxpayers; refundable income tax credit.

Introduced by: Jerrauld C. "Jay" Jones | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Refundable income tax credit for low-income taxpayers. Allows low-income individuals and married persons to claim either (i) a nonrefundable income tax credit equal to $300 for each individual, his spouse, and any dependents or (ii) a refundable income tax credit equal to 20 percent of the federal earned income tax credit claimed that year by the individual or married persons. The provisions of the bill apply to taxable years beginning on and after January 1, 2020, but before January 1, 2026.

FULL TEXT

• 01/08/20  House: Prefiled and ordered printed; offered 01/08/20 20104026D  pdf | impact statement

AMENDMENTS

• House committee, floor amendments and substitutes offered

HISTORY

• 01/08/20  House: Prefiled and ordered printed; offered 01/08/20 20104026D
• 01/08/20  House: Referred to Committee on Finance
• 01/23/20  House: Assigned Finance sub: Subcommittee #3
• 01/24/20  House: Subcommittee recommends laying on the table (6-Y 1-N)
• 02/11/20  House: Left in Finance