Reenacts GS 105-151.31 as it existed immediately before its repeal in 2014, providing for an earned income tax credit, with the following changes. Recodifies the statute as GS 105-153.11 and sunsets the reenacted provisions on January 1, 2023. Now allows for a 5% earned income tax credit per taxable year (previously, allowed for a 4.5% credit for the 2013 taxable year and 5% for all other taxable years). Makes the credit subject to Section 3507 of the Internal Revenue Code, Advance Payment of Earned Income Credit (previously, did not apply). Corrects statutory references. Effective January 1, 2019.
REINSTATE EARNED INCOME TAX CREDIT.
|View NCGA Bill Details||2019-2020 Session|
AN ACT TO REENACT THE EARNED INCOME TAX CREDIT.Intro. by Harris, Alexander, Jackson, K. Smith.
Status: Ref To Com On Rules, Calendar, and Operations of the House (House action) (Mar 4 2019)
Thu, 28 Feb 2019 House: Filed
Mon, 4 Mar 2019 House: Passed 1st Reading
Bill H 238 (2019-2020)Summary date: Feb 28 2019 - View Summary