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2024 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Rouse
Earned Income Tax Credit (SB 183) (language only)

Item 0 #5s

Item 0 #5s

Revenues
Revenues

Language

Page 1, strike line 25 and insert:"

Official Revenue Estimate

$28,084,886,852

$29,611,402,918

$57,696,289,770

"



Explanation

(This amendment accompanies Senate Bill 183 allowing eligible low-income taxpayers to claim a refundable income tax credit equal to 20 percent of the federal earned income tax credit claimed that year by the taxpayer for the same taxable year. This amendment reduces the general fund based on a preliminary estimate of $36.5 million the first year and $35.5 million the second year. The actual impact is to be determined.)