Bill Summary for S 50 (2019-2020)

Summary date: 

Feb 12 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 50 (Public) Filed Tuesday, February 12, 2019
AN ACT TO REENACT THE EARNED INCOME TAX CREDIT.
Intro. by Foushee, Mohammed.

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Bill summary

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, 2023. Effective January 1, 2019.

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