Reenacts GS 105-151.31, which sunset on January 1, 2014, concerning the earned income tax credit an individual could claim under section 32 of the Internal Revenue Code. Sets the earned income tax credit at 5% (previously, 4.5% for taxable year 2013 and 5% for all other taxable years). Repeals the reenacted statute effective for taxable years beginning on or after January 1, 2024. Effective January 1, 2020.
REINSTATE EARNED INCOME TAX CREDIT.
|View NCGA Bill Details||2019-2020 Session|
AN ACT TO REENACT THE EARNED INCOME TAX CREDIT.Intro. by deViere, Foushee, Garrett.
Status: Ref To Com On Rules and Operations of the Senate (Senate action) (May 18 2020)
Thu, 14 May 2020 Senate: Filed
Mon, 18 May 2020 Senate: Passed 1st Reading
Mon, 18 May 2020 Senate: Ref To Com On Rules and Operations of the Senate
Bill S 734 (2019-2020)Summary date: May 14 2020 - View Summary