Introduced by Sen. Bert Johnson (D) on January 31, 2013, 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). According to a House Fiscal Agency analysis, this increase would cost $261 million annually. Full Text and Analysis.
Referred to the Senate Finance Committee on January 31, 2013.