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1997 SESSION
HB 2782 Earned-income credit & sales tax exemption for nonprescription drugs.
Introduced by: Linda T. Puller | all patrons ... notes | add to my profiles
SUMMARY:
Earned-income tax credit and sales tax exemption for nonprescription drugs. Allows a refundable earned-income credit for individuals whose annual income does not exceed $19,000. The amount of the credit is equal to a percentage of their federal earned-income credit. For individuals earning $11,000 or less, the credit is 10 percent of the federal earned-income credit. As an individual's income increases by increments of $1,000, the amount of the state credit declines by one percent of the federal credit amount, with individuals having an income between $18,000 and $19,000 receiving a credit of two percent of the amount of the federal credit. The credit will be available for taxable years beginning on and after January 1, 1998. The measure also repeals the sales and use tax exemption for nonprescription drugs, which is scheduled to become effective July 1, 1998.
FULL TEXT
- 01/20/97 House: Presented & ordered printed 975733410 pdf
- 01/31/97 House: Committee substitute printed 976220410-H1 pdf
HISTORY
- 01/20/97 House: Presented & ordered printed 975733410
- 01/20/97 House: Referred to Committee on Finance
- 01/21/97 House: Assigned to Finance sub-committee: 1
- 01/31/97 House: Reported from Finance with sub. (22-Y 0-N)
- 01/31/97 House: Committee substitute printed 976220410-H1
- 02/01/97 House: Read first time
- 02/02/97 House: Read second time
- 02/02/97 House: Committee substitute agreed to 976220410-H1
- 02/02/97 House: Passed by for the day
- 02/03/97 House: Read second time
- 02/03/97 House: Engrossed by House - com. sub. 976220410-H1
- 02/04/97 House: Read third time and passed House (92-Y 7-N)
- 02/04/97 House: VOTE: PASSAGE (92-Y 7-N)
- 02/04/97 House: Communicated to Senate
- 02/05/97 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/05/97 Senate: Referred to Committee on Finance
- 02/17/97 Senate: Left in Finance