H.B.
197
EARNED INCOME TAX CREDIT AND RELATED FUNDING
House Floor
Amendments
Amendment 1 March 8, 2013 11:13 AM
Representative Eric K. Hutchings
proposes the following amendments:
1. Page
2, Lines 45 through 58
:
45
(2) Except as provided in Section
59-10-1102.1
and subject to
{
Subsection (3)
}
the other
provisions of this section
, a
46
claimant may claim a refundable earned income tax credit equal to 5% of the federal earned
47
income tax credit.
48
(3) A claimant may not carry forward or carry back a tax credit provided for under this
49
section.
(4) A claimant may not claim a tax credit under this section for more than four taxable years.
50
{
(4)
}
(5)
In accordance with any rules prescribed by the commission under Subsection
51
{
(5)
}
(6)
(b), the commission shall transfer at least annually from the General Fund into the Education
52
Fund an amount equal to the amount of tax credit claimed under this section.
53
{
(5)
}
(6)
In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the
54
commission may make rules:
55
(a) providing procedures for issuing refunds for a tax credit claimed under this section;
56
and
57
(b) making a transfer from the General Fund into the Education Fund as required by
58
Subsection
{
(4)
}
(5)
.
Page 1 of 1
LRGC
rrockwell
rrockwell
Q 03/07/13 3:58p