Introduced
by
To establish a state earned income tax credit (EITC), which would provide a refundable income tax credit equal to 25 percent of the federal earned income credit to which a low income taxpayer is eligible. The federal earned income tax credit is a refundable credit which, for a person with two or more qualifying children, begins to phase out at an income level of $12,700 and ends at $31,152. The size of the credit runs between $353 and $3,888 depending on tax status (2000 tax year figures).
Referred to the Committee on Tax Policy
