Introduced by Rep. Jeff Farrington (R) on May 14, 2015 To eliminate the state earned income tax credit, which grants recipients an amount equal to 6 percent of the federal EITC. The EITC is a refundable tax credit (or “reverse income tax”) that sends checks to low income workers, totaling around $115 million annually. This is part of a House package that generates $1.163 billion more for annual road repairs by 2019, mostly by reprioritizing current state spending. Official Text and Analysis.
Referred to the House Roads and Economic Development Committee on May 14, 2015
Reported in the House on June 4, 2015 Without amendment and with the recommendation that the bill pass.
Amendment offered by Rep. Jim Townsend (D) on June 9, 2015 To tie-bar the bill to House Bill 4341, meaning this bill cannot become law unless that one does also. HB 4341 would impose a graduated income tax ranging from 3 percent on the first $20,000 of income ($40,000 for a joint return) to 10 percent on annual income above $1 million. The amendment would also make EITC repeal contingent on the House road funding package being enacted.
The amendment failed by voice vote in the House on June 9, 2015