AN ACT CONCERNING THE EARNED INCOME TAX CREDIT.

HB 5419 would increase Connecticut's earned income tax credit to 41.5% of the federal credit and expand eligibility to include households earning under 300% of the federal poverty guidelines. This change would directly benefit low-income working families and individuals who currently earn too much to qualify under the existing threshold. The bill modifies existing law to both raise the credit percentage and lower the income limit for claiming the state tax credit. It does not alter the federal credit amount or change other eligibility requirements.