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NC H1083
Bill
Status
Introduced
5/26/2022
Primary Sponsor
Wesley Harris
Click for details
AI Summary
- Reenacts North Carolina's earned income tax credit (EITC) that had previously expired, effective for taxable years beginning January 1, 2022
- Allows individuals claiming the federal EITC under Internal Revenue Code section 32 to receive a state credit equal to 20% of their federal credit amount
- Makes the credit refundable, meaning taxpayers receive a refund if the credit exceeds their state tax liability
- Applies the credit to nonresidents and part-year residents by reducing it proportionally based on income earned in North Carolina
- Removes the previous sunset provision that had repealed the credit effective January 1, 2014
Legislative Description
Recovery Rebate for Working Families Act
Public
Last Action
Ref To Com On Rules, Calendar, and Operations of the House
5/27/2022
Committee Referrals
Rules, Calendar, and Operations of the House5/27/2022
Full Bill Text
No bill text available