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NC S576

Bill

Official Source

Status

Introduced

4/6/2021

Primary Sponsor

Kirk deViere

Click for details

Origin

Senate

2021-2022 Session

AI Summary

  • Reenacts the earned income tax credit (EITC) in North Carolina, previously expired after 2013
  • Provides a state tax credit equal to 20% of the federal EITC claimed by eligible individuals for taxable year 2021 and beyond
  • Makes the credit refundable, meaning taxpayers can receive a refund if the credit exceeds their tax liability
  • Applies to all taxable years beginning January 1, 2021 or later
  • Intended to provide financial support to working families facing increased costs for housing, child care, and basic necessities during the COVID-19 pandemic

Legislative Description

Recovery Rebate for Working Families Act

Public

Last Action

Ref To Com On Rules and Operations of the Senate

4/7/2021

Committee Referrals

Rules and Operations of the Senate4/7/2021

Full Bill Text

No bill text available