Increases the earned income tax credit for taxable years beginning in 2025.

This bill amends the tax law to increase the earned income tax credit for taxable years beginning in 2025. The credit is set to be forty-five percent for those years. The bill also allows taxpayers to elect to receive their earned income tax credit in lump sum, quarterly, or final refund payments. The changes take effect on the one hundred twentieth day after the bill becomes law.

Increases the earned income tax credit for taxable years beginning in 2025.

This bill amends the tax law to increase the earned income tax credit for taxable years beginning in 2025. The credit is set to be forty-five percent for those years. The bill also allows taxpayers to elect to receive their earned income tax credit in lump sum, quarterly, or final refund payments. The changes take effect on the one hundred twentieth day after the bill becomes law.