2012 -- S 2202

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LC00751

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STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2012

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A N A C T

RELATING TO TAXATION -- PERSONAL INCOME TAX -- EARNED INCOME CREDIT

     Introduced By: Senators Metts, Crowley, Jabour, Pichardo, and Miller

     Date Introduced: January 24, 2012

     Referred To: Senate Finance

It is enacted by the General Assembly as follows:

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     SECTION 1. Chapter 44-30 of the General Laws entitled "Personal Income Tax" is

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hereby amended by adding thereto the following section:

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     44-30-100. Refundable earned income credit. – A taxpayer shall be allowed a credit as

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provided in subparagraph 44-30-2.6(N); provided, however, one hundred percent (100%) of the

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excess Rhode Island earned income credit will be refunded for the 2011 taxable year and each

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taxable year thereafter.

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     SECTION 2. This act shall take effect upon passage.

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LC00751

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N A C T

RELATING TO TAXATION -- PERSONAL INCOME TAX -- EARNED INCOME CREDIT

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     This act would increase the refundable state earned income credit from fifteen percent

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(15%) to one hundred percent (100%).

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     This act would take effect upon passage.

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LC00751

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