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ND SB2260
Bill
Status
Introduced
1/19/2011
Primary Sponsor
Ed Gruchalla
Click for details
AI Summary
- Establishes a North Dakota income tax credit equal to ten percent of the federal earned income credit claimed by resident taxpayers under Section 32 of the Internal Revenue Code
- Credit is allowed against state income tax liability after reduction by other permitted credits, with excess amounts refunded to taxpayers
- For part-year residents, the credit must be adjusted based on the percentage calculated under Section 57-38-30.3
- Tax Commissioner must report total aggregate state general fund expenditures for the refundable portion of the credit to the Department of Human Services, which may apply these expenditures toward temporary assistance for needy families block grant maintenance of effort requirements
- Effective for taxable years beginning after December 31, 2010
Legislative Description
An income tax credit equal to a portion of a taxpayer's federal earned income credit; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 11 nays 34
2/7/2011
Committee Referrals
Finance and Taxation1/19/2011
Full Bill Text
No bill text available