2017 Regular Session
|At the request of:||(at the request of Senate Interim Committee on Finance and Revenue)|
|Regular Sponsors:||(Presession Filed)|
|Bill Title:||Relating to tax credits; and prescribing an effective date.|
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|