Fiscal Note

HB 16 — Fiscal Note/Fee Impact

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Mentions of “Revenue” — 6 found

… ignature by the Governor. 2. Upon signature, this Act takes effect on the latter of the following: a. The Division of Revenue has implemented the personal income tax release of the Integrated Revenue Administration System (IRAS); or b. The Se …

… atter of the following: a. The Division of Revenue has implemented the personal income tax release of the Integrated Revenue Administration System (IRAS); or b. The Secretary of Finance provides a written notice to the Registrar of Regulations …

… IRAS); or b. The Secretary of Finance provides a written notice to the Registrar of Regulations that the Division of Revenue has implemented the personal income tax release of the IRAS. 3. This Act modifies Delaware Earned Income Tax Credit (E …

… se of the IRAS is schedule for implementation in the third quarter of 2021. 7. The Department of Finance’s Division of Revenue will require additional staff support to implement the requirements of this Act. The division anticipates the need f …

… le EITC are assumed to increase at a rate of 3% annually. Costs of the additional staffing needs for the Division of Revenue are assumed to increase at a rate of 2% annually. Cost: State Costs General Fund Revenue Loss Fiscal Year 2022:$20,0 …

… ng needs for the Division of Revenue are assumed to increase at a rate of 2% annually. Cost: State Costs General Fund Revenue Loss Fiscal Year 2022:$20,000 $4,508,909 Fiscal Year 2023:$20,400 $4,644,176 Fiscal Year 2024:$20,808 $4,783,502 Pr …

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