2017 Senate Bill 26

Increase state EITC

Introduced in the Senate

Jan. 18, 2017

Introduced by Sen. David Knezek (D-5)

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