2013 -- S 0087

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LC00463

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STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2013

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A N A C T

RELATING TO TAXATION - PERSONAL INCOME TAX

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

     Date Introduced: January 22, 2013

     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. -- Notwithstanding the provisions of

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subparagraph 44-30-2.6(N), one hundred percent (100%) of the excess Rhode Island earned

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income credit will be refunded to an eligible taxpayer for the 2012 taxable year and each taxable

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year thereafter.

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     SECTION 2. This act shall take effect upon passage.

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LC00463

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

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(15%) to one hundred percent (100%) for the 2012 taxable year and each taxable year thereafter.

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     This act would take effect upon passage.

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LC00463

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