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NC H238

Bill

Official Source

Status

Introduced

2/28/2019

Primary Sponsor

Wesley Harris

Click for details

Origin

House of Representatives

2019-2020 Session

AI Summary

  • Reenacts the earned income tax credit that was previously set to expire January 1, 2014, extending it through December 31, 2023
  • Allows individuals claiming the federal earned income tax credit under section 32 of the Internal Revenue Code to claim a credit equal to 5% of their federal credit amount against North Carolina state income tax
  • Makes the credit refundable, meaning taxpayers can receive a refund if the credit exceeds their tax liability
  • Requires nonresident or part-year residents to reduce the credit by a proportional fraction based on income allocation
  • Takes effect for taxable years beginning on or after January 1, 2019

Legislative Description

Reinstate Earned Income Tax Credit

Last Action

Ref To Com On Rules, Calendar, and Operations of the House

3/4/2019

Committee Referrals

Rules, Calendar, and Operations of the House3/4/2019

Full Bill Text

No bill text available