SB 6539-S - DIGEST

(DIGEST OF PROPOSED 1ST SUBSTITUTE)

     Directs the college board to establish and administer an earned income training credit program as provided in this act for persons with qualifying children who received an earned income tax credit under the federal internal revenue code.  Persons with qualifying children who received an earned income tax credit shall receive earned income training credit in an amount equal to fifty percent of the earned income tax credit received in a year, up to the maximum established in this act.  If the recipient of training credits does not use the credits in the year the credits are received, then credits may be accumulated over time up to the maximum established in this act.

     Requires the college board to, with the cooperation of the employment security department, report on the impact of this act to the work force training and education coordinating board, or a successor board, and the appropriate committees of the legislature by December 1st of even-numbered years, beginning in 2002.