A BILL TO BE ENTITLED
AN ACT to increase the earned income tax credit to five percent.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 105‑151.31(a) reads as rewritten:
"(a)	Credit. – An individual who claims for the taxable year an earned income tax credit under section 32 of the Code is allowed a credit against the tax imposed by this Part equal to five percent (5%) of the amount of credit the individual qualified for under section 32 of the Code. A nonresident or part‑year resident who claims the credit allowed by this section must reduce the amount of the credit by multiplying it by the fraction calculated under G.S. 105‑134.5(b) or (c), as appropriate."
SECTION 2.  This act is effective for taxable years beginning on or after January 1, 2008.