Personal income taxes: exemption credit: dependents.

The Personal Income Tax law authorizes a credit of $227 for each dependent of a taxpayer for each taxable year beginning on or after January 1, 1999, as adjusted for inflation, which may be reduced if a taxpayer's federal adjusted gross income exceeds a threshold amount. The credit for the 2017 taxable year is $353. This bill would increase that credit to $389 for taxable years beginning on or after January 1, 2019, which would be adjusted for inflation in taxable years thereafter. This bill would take effect immediately as a tax levy.