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2017 Regular Session
At the request of: (at the request of Senate Interim Committee on Finance and Revenue)
Chief Sponsors:
Regular Sponsors: Printed pursuant to Senate Interim Rule 213.28 by order of the President of the Senate in conformance with presession filing rules, indicating neither advocacy nor opposition on the part of the President.
Bill Title: Relating to tax credits; and prescribing an effective date.
Catchline/Summary: Modifies definition of "business tax credit," as allowed to shareholders of S corporation, to remove Department of Revenue rulemaking authority.
Updates list of eligible tax credits. Modifies tax credit allowed for employment-related dependent care expenses to conform to operation of related federal tax credit. Prescribes eligibility requirements for earned income for allowance of credit. Allows nonmarried taxpayer to claim credit. Prohibits payment of interest for refundable portion of credit. Applies to tax years beginning on or after January 1, 2018. Takes effect on 91st day following adjournment sine die.
Chapter Number: Chapter 638
Fiscal Impact: Has Minimal Fiscal Impact
Revenue Impact: Has Minimal Revenue Impact
Measure Analysis: Staff Measure Summary / Impact Statements
Current Location: Chapter Number Assigned
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Measure History
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