CA passes it’s first Earned Income Tax Credit.
Included in California’s 2015-2016 budget is it’s first ever EITC. Here is a snippet from the budget summary.
“The state’s first Earned Income Tax Credit will help the poorest working families
in California. This targeted credit provides a refundable tax credit totaling
$380 million for wages and focuses on the lowest‑income Californians — households
with incomes less than $6,580 if there are no dependents or $13,870 if there are
three or more dependents. The credit matches 85 percent of the federal credit at the
lowest income levels, with a maximum benefit of $2,653.”
Interestingly, for purposes of this bill, self employment income does not qualify as earned income so this only applies to employees.
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