Personal income taxes: renters' credit.

The Personal Income Tax Law authorizes various credits against the taxes imposed by that law, including a credit for qualified renters in the amount of $120 for married couples filing joint returns, heads of household, and surviving spouses if adjusted gross income is $50,000, as adjusted currently to $76,518, or less, and in the amount of $60 for other individuals if adjusted gross income is $25,000, as adjusted currently to $38,259, or less. This bill, for taxable years beginning on and after January 1, 2016, instead would increase this credit for a qualified renter to $200 for married couples filing joint returns, heads of household, and surviving spouses, and to $100 for other individuals. This bill would take effect immediately as a tax levy.