Introduced by Rep. Jim Ananich (D) on July 18, 2012, to increase the state earned income tax credit from an amount equal to 6 percent of the federal EITC, to 20 percent. This is a “refundable” credit for low income workers (meaning that a check is sent to the taxpayer for the balance of the credit exceeding taxes owed). Also, to give up to $150 in matching grants to an EITC recipient who places at least $50 in a “qualified savings account,” the nature of which would be determined by the Department of Treasury.
Referred to the House Tax Policy Committee on July 18, 2012.
1) 2012 House Bill 5769 (Increase EITC; authorize savings account grants ) by admin on February 27, 2013 Introduced in the House on July 18, 2012