MS HB384

Provides a refundable state income tax credit equal to 10% of the federal earned income tax credit (EITC) claimed by taxpayers under 26 USCS Section 32.

Allows taxpayers to receive a refund from the Department of Revenue if the state credit exceeds their state income tax liability after accounting for all other allowable credits.

Requires taxpayers to claim the federal EITC on their federal income tax return and provide a copy of that return and other information required by the Department of Revenue to obtain the state credit.

Does not affect any tax claims, assessments, appeals, or enforcement actions for taxes due or accrued before the effective date.

Takes effect January 1, 2018.