This Amendment revises House Bill 99 to clarify that the credit referenced in lines 17 and 19 is refundable and corrects a technical drafting error relating to the effective date.

Plain English Breakdown

Checked against official source text during the last sync.

Amendment to Make Tax Credit Refundable and Fix Effective Date

This amendment changes House Bill 99 so that part of an earned income tax credit can be refunded if it is larger than the taxes owed, and it fixes a mistake about when the law starts.

What This Bill Does

• Adds the word 'refundable' to describe the tax credit in line 17 of House Bill 99.
• Changes line 19 so individuals can claim 20% of their federal earned income tax credit, with any amount larger than taxes owed being refunded.
• Replaces old text about when the law takes effect with new rules based on system updates and written notice.

Who It Names or Affects

• Individuals who claim the earned income tax credit under House Bill 99
• The Division of Revenue, which must implement a specific computer system release
• The Secretary of Finance, who must send written notice about the new rules

Terms To Know

Refundable credit

A tax benefit where the government pays you back money if the credit is larger than your taxes owed.

Earned income tax credit

Money taken off a person's federal or state tax bill based on how much they earned from work.

Limits and Unknowns

• The exact date the law starts depends on when computer systems are updated and officials send written notices.
• This text only shows changes to House Bill 99, not the full details of that original bill.

Official Summary Text

This Amendment revises House Bill 99 to clarify that the credit referenced in lines 17 and 19 is refundable and corrects a technical drafting error relating to the effective date.

Current Bill Text

Legislation Document

SPONSOR:

Rep. Yearick

HOUSE OF REPRESENTATIVES

153rd GENERAL ASSEMBLY

HOUSE AMENDMENT NO. 1

TO

HOUSE BILL NO. 99

AMEND House Bill No. 99 on line 17 by inserting “

refundable

” after “

a

” and before “

credit

”.

AMEND House Bill No. 99 by deleting line 19 in its entirety and inserting in lieu thereof the following:

“

The individual may claim 20% of the corresponding federal earned income tax credit, of which the amount that exceeds the tax otherwise due under this chapter is refundable.

”.

AMEND House Bill No. 99 by deleting lines 27 through 31 in their entirety and inserting in lieu thereof the following:

“

Section 2.

The date of the last of the following to occur:

(1) The Division of Revenue has implemented the personal income tax release of the Integrated Revenue Administration System.

(2) The Secretary of Finance provides a written notice to the Registrar of regulations that the contingency in paragraph (1) of this section has been fulfilled.

This Act takes effect on January 1, 2021

.

”.

SYNOPSIS

This Amendment revises House Bill 99 to clarify that the credit referenced in lines 17 and 19 is refundable and corrects a technical drafting error relating to the effective date.