Provides for the advance payment of the earned income tax credit to qualifying employees.

The bill amends the tax law to allow the commissioner to prepay the earned income credit to qualifying employees. Four advanced payments will be made, with the first three being 20% of the anticipated credit and the fourth being adjusted to match the actual credit due. Payments will be made via direct deposit or electronic benefit transfer card. The commissioner must notify taxpayers of the availability of these advance payments. The bill takes effect immediately and applies to taxable years beginning on or after January 1, 2027.

Provides for the advance payment of the earned income tax credit to qualifying employees.

The bill amends the tax law to allow the commissioner to prepay the earned income credit to qualifying employees. Four advanced payments will be made, with the first three being 20% of the anticipated credit and the fourth being adjusted to match the actual credit due. Payments will be made via direct deposit or electronic benefit transfer card. The commissioner must notify taxpayers of the availability of these advance payments. The bill takes effect immediately and applies to taxable years beginning on or after January 1, 2027.