The bill modifies the working families' tax credit in Washington State by enhancing collection services and increasing participation rates through data-sharing agreements. It amends RCW 82.08.0206 to provide a refundable tax credit for eligible low-income individuals, with specific definitions and eligibility criteria outlined. The refund amounts are set to increase based on the number of qualifying children, with adjustments for inflation starting January 1, 2024. Additionally, the bill establishes a process for individuals to apply for the credit, including provisions for record-keeping and verification of eligibility.

New provisions include the requirement for the Department of Revenue and the authority to enter into a memorandum of understanding for information-sharing practices to facilitate the implementation of the tax credit. The bill also introduces new language regarding assessments for overpaid amounts and penalties for fraudulent claims. It applies both prospectively and retroactively to January 1, 2023, ensuring that eligible individuals can benefit from the credit for the specified tax years.

Statutes affected:
Original Bill: 82.08.0206