2015 -- S 0166 | |
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LC000818 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2015 | |
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A N A C T | |
RELATING TO TAXATION - PERSONAL INCOME TAX | |
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Introduced By: Senators Metts, Miller, Crowley, Jabour, and Nesselbush | |
Date Introduced: February 05, 2015 | |
Referred To: Senate Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Chapter 44-30 of the General Laws entitled "Personal Income Tax" is |
2 | hereby amended by adding thereto the following section: |
3 | 44-30-101. Refundable earned income credit. -- Notwithstanding the provisions of ยง |
4 | 44-30-2.6(N), one hundred percent (100%) of the excess Rhode Island earned income credit will |
5 | be refunded to an eligible taxpayer for the 2016 taxable year, and each taxable year thereafter. |
6 | SECTION 2. This act shall take effect upon passage. |
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LC000818 | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO TAXATION - PERSONAL INCOME TAX | |
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1 | This act would increase the refundable state earned income credit from ten percent (10%) |
2 | to one hundred percent (100%) for the 2016 taxable year, and each taxable year thereafter. |
3 | This act would take effect upon passage. |
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