| SB 0161 | Authorizes state income tax credit equal to 20% of federal earned income credit |
| Sponsor: | Maxwell | |||
| LR Number: | S0647.01I | Fiscal Note: | 0647-01 | |
| Committee: | Ways and Means | |||
| Last Action: | 02/16/99 - Hearing Conducted S Ways & Means Committee | Journal page: | ||
| Title: | ||||
| Effective Date: | August 28, 1999 | |||
SB 161 - This act authorizes, for all taxable years
beginning on or after January 1, 1999, a state income tax credit
equal to twenty percent of the amount which a taxpayer claims as
a federal earned income tax credit. The credit is refundable to
the extent that the credit exceeds the amount of tax due. The
Department of Revenue is required to notify potential claimants
of their eligibility.
RUSS HEMBREE