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Committee reviews draft 1.4 reducing refundable credit to $1,000; no vote recorded
Summary
Finance Committee members discussed draft 1.4, which would lower a refundable credit from $2,500 to $1,000 and apply a $20 per $1,000 phase-down; staff and the tax commissioner were present and lawmakers requested fiscal estimates but did not take a recorded vote.
The Finance Committee reviewed draft 1.4 of a tax-credit bill that would reduce the maximum refundable credit from $2,500 to $1,000 and change the phase-down to $20 for each $1,000 of income in a specified bracket.
Secretary Shouldice, the state tax commissioner, was present for committee questions, and members discussed the draft language and estimates posted on the committee’s website. Committee members said…
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