Introduced
by
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 amount the credit exceeds taxes owed). According to past fiscal agency analyses, an increase to 20 percent would distribute around $261 million annually.
Referred to the Committee on Finance
