upstream master

Merge branch 'master' of https://github.com/PolicyEngine/policyengine-us into hua7450/issue1712

CHANGELOG.md

@@ -5,6 +5,18 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
+## [1.180.1] - 2025-01-22 06:23:40
+
+### Fixed
+
+- Limit DC PTC to filers that take it up in the reform.
+
+## [1.180.0] - 2025-01-21 20:24:31
+
+### Added
+
+- 2024 California YCTC and Foster Youth Credit parameters.
+
 ## [1.179.0] - 2025-01-21 05:05:10
 
 ### Added
@@ -10630,6 +10642,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 
 
+[1.180.1]: https://github.com/PolicyEngine/policyengine-us/compare/1.180.0...1.180.1
+[1.180.0]: https://github.com/PolicyEngine/policyengine-us/compare/1.179.0...1.180.0
 [1.179.0]: https://github.com/PolicyEngine/policyengine-us/compare/1.178.0...1.179.0
 [1.178.0]: https://github.com/PolicyEngine/policyengine-us/compare/1.177.0...1.178.0
 [1.177.0]: https://github.com/PolicyEngine/policyengine-us/compare/1.176.3...1.177.0

changelog.yaml

@@ -8984,3 +8984,13 @@
     added:
     - 2025 New York Inflation Rebates.
   date: 2025-01-21 05:05:10
+- bump: minor
+  changes:
+    added:
+    - 2024 California YCTC and Foster Youth Credit parameters.
+  date: 2025-01-21 20:24:31
+- bump: patch
+  changes:
+    fixed:
+    - Limit DC PTC to filers that take it up in the reform.
+  date: 2025-01-22 06:23:40

policyengine_us/parameters/gov/states/ca/tax/income/credits/earned_income/phase_out/final/end.yaml

@@ -2,16 +2,19 @@ description: California limits CalEITC to filers with less than this amount of e
 values:
   2019-01-01: 30_000
   2023-01-01: 30_951
+  2024-01-01: 31_950
 metadata:
   reference:
-    - title: California Legal code REVENUE AND TAXATION CODE - RTC
+    - title: California Legal code REVENUE AND TAXATION CODE, section 17052,(o)(3)(B)
       href: https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC&sectionNum=17052
     - title: California Form 3514 instructions (2021)
       href: https://www.ftb.ca.gov/forms/2021/2021-3514-instructions.html
     - title: California Form 3514 instructions (2022)
       href: https://www.ftb.ca.gov/forms/2022/2022-3514-instructions.html
     - title: California Form 3514 instructions (2023)
       href: https://www.ftb.ca.gov/forms/2023/2023-3514-instructions.html
+    - title: California Form 3514 instructions (2024)
+      href: https://www.ftb.ca.gov/forms/2024/2024-3514-instructions.html
   unit: currency-USD
   period: year
   label: CalEITC max earnings

policyengine_us/parameters/gov/states/ca/tax/income/credits/foster_youth/amount.yaml

@@ -10,6 +10,7 @@ brackets:
       values:
         2022-01-01: 1_083
         2023-01-01: 1_117
+        2024-01-01: 1_154
       metadata:
         uprating: gov.states.ca.cpi
   - threshold:  
@@ -31,6 +32,11 @@ metadata:
       href: https://www.ftb.ca.gov/forms/2022/2022-3514.pdf#page=4
     - title: 2023 California Earned Income Tax Credit Form
       href: https://www.ftb.ca.gov/forms/2022/2022-3514.pdf#page=4
-  # The legal code provides the pre-adjustment value  
+  # The legal code specifies the amount as $1,176 multiplied by the CalEITC adjustment factor ($1,000 in 2021).
+  # Since the base value is adjusted annually with inflation.
+  # For accuracy, we use the final product as the parameter value 
+  # due to the tax forms showing inflation-adjusted final values and not the base value.
     - title: California Revenue and Taxation Code (R&TC) Section 17052.2(a)(2)(C)(i)
       href: https://casetext.com/statute/california-codes/california-revenue-and-taxation-code/division-2-other-taxes/part-10-personal-income-tax/chapter-2-imposition-of-tax/section-170522-foster-youth-tax-credit-for-qualified-taxpayers#:~:text=Section%2017052.2%20%2D%20Foster%20youth%20tax%20credit%20for%20qualified%20taxpayers%20(a,determined%20under%20paragraph%20(2)
+    - title: 2024 California Earned Income Tax Credit Form
+      href: https://www.ftb.ca.gov/forms/2024/2024-3514.pdf#page=4

policyengine_us/parameters/gov/states/ca/tax/income/credits/foster_youth/phase_out/amount.yaml

@@ -16,3 +16,5 @@ metadata:
   # The legal code provides the pre-adjustment value  
     - title: California Revenue and Taxation Code (R&TC) Section 17052.2(a)(2)(C)(i)
       href: https://casetext.com/statute/california-codes/california-revenue-and-taxation-code/division-2-other-taxes/part-10-personal-income-tax/chapter-2-imposition-of-tax/section-170522-foster-youth-tax-credit-for-qualified-taxpayers#:~:text=Section%2017052.2%20%2D%20Foster%20youth%20tax%20credit%20for%20qualified%20taxpayers%20(a,determined%20under%20paragraph%20(2)
+    - title: 2024 California Earned Income Tax Credit Form
+      href: https://www.ftb.ca.gov/forms/2024/2024-3514.pdf#page=4

policyengine_us/parameters/gov/states/ca/tax/income/credits/foster_youth/phase_out/increment.yaml

@@ -16,3 +16,5 @@ metadata:
   # The legal code provides the pre-adjustment value  
     - title: California Revenue and Taxation Code (R&TC) Section 17052.2(a)(2)(C)(i)
       href: https://casetext.com/statute/california-codes/california-revenue-and-taxation-code/division-2-other-taxes/part-10-personal-income-tax/chapter-2-imposition-of-tax/section-170522-foster-youth-tax-credit-for-qualified-taxpayers#:~:text=Section%2017052.2%20%2D%20Foster%20youth%20tax%20credit%20for%20qualified%20taxpayers%20(a,determined%20under%20paragraph%20(2)
+    - title: 2024 California Earned Income Tax Credit Form
+      href: https://www.ftb.ca.gov/forms/2024/2024-3514.pdf#page=4

policyengine_us/parameters/gov/states/ca/tax/income/credits/foster_youth/phase_out/start.yaml

@@ -2,6 +2,7 @@ description: California phases the foster youth tax credit out for filers with e
 values: 
   2022-01-01: 25_000
   2023-01-01: 25_775
+  2024-01-01: 26_626
 metadata:
   unit: currency-USD
   period: year
@@ -11,10 +12,12 @@ metadata:
   # The foster youth tax credit was implemented  in 2022
     - title: California Foster Youth Tax Credit
       href: https://www.ftb.ca.gov/file/personal/credits/foster-youth-tax-credit.html
-    - title: 2022 California Earned Income Tax Credit Form
-      href: https://www.ftb.ca.gov/forms/2023/2023-3514.pdf#page=4
     - title: 2023 California Earned Income Tax Credit Form
+      href: https://www.ftb.ca.gov/forms/2023/2023-3514.pdf#page=4
+    - title: 2022 California Earned Income Tax Credit Form
       href: https://www.ftb.ca.gov/forms/2022/2022-3514.pdf#page=4
   # The legal code provides the pre-adjustment value  
-    - title: California Revenue and Taxation Code (R&TC) Section 17052.2(c)(2)
+    - title: California Revenue and Taxation Code (R&TC) Section 17052.2(a)(C)(i)
       href: https://casetext.com/statute/california-codes/california-revenue-and-taxation-code/division-2-other-taxes/part-10-personal-income-tax/chapter-2-imposition-of-tax/section-170522-foster-youth-tax-credit-for-qualified-taxpayers#:~:text=Section%2017052.2%20%2D%20Foster%20youth%20tax%20credit%20for%20qualified%20taxpayers%20(a,determined%20under%20paragraph%20(2)
+    - title: 2024 California Earned Income Tax Credit Form
+      href: https://www.ftb.ca.gov/forms/2024/2024-3514.pdf#page=4

policyengine_us/parameters/gov/states/ca/tax/income/credits/young_child/amount.yaml

@@ -3,6 +3,7 @@ values:
   2021-01-01: 1_000
   2022-01-01: 1_083
   2023-01-01: 1_117
+  2024-01-01: 1_154
 
 metadata:
   unit: currency-USD
@@ -16,3 +17,11 @@ metadata:
       href: https://www.ftb.ca.gov/forms/2022/2022-3514.pdf#page=3
     - title: 2023 CalEITC Form 3514
       href: https://www.ftb.ca.gov/forms/2023/2023-3514.pdf#page=3
+    - title: 2024 CalEITC Form 3514
+      href: https://www.ftb.ca.gov/forms/2024/2024-3514.pdf#page=3
+  # The legal code specifies the amount as $1,176 multiplied by the CalEITC adjustment factor ($1,000 in 2021).
+  # Since the base value is adjusted annually with inflation.
+  # For accuracy, we use the final product as the parameter value 
+  # due to the tax forms showing inflation-adjusted final values and not the base value.
+    - title: California Legal code REVENUE AND TAXATION CODE, section 17052.1,(a)(2)(A)(i)
+      href: https://casetext.com/statute/california-codes/california-revenue-and-taxation-code/division-2-other-taxes/part-10-personal-income-tax/chapter-2-imposition-of-tax/section-170521-young-child-tax-credit

policyengine_us/parameters/gov/states/ca/tax/income/credits/young_child/ineligible_age.yaml

@@ -5,6 +5,9 @@ metadata:
   reference:
     - title: California Section 17052.1(c)
       href: https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC&sectionNum=17052.1
+    - title: 2024 CalEITC Form 3514
+      href: https://www.ftb.ca.gov/forms/2024/2024-3514.pdf#page=3
+
   unit: year
   period: year
   label: California young child tax credit ineligible age

policyengine_us/parameters/gov/states/ca/tax/income/credits/young_child/loss_threshold.yaml

@@ -3,6 +3,7 @@ values:
   2021-01-01: 0
   2022-01-01: 32_490
   2023-01-01: 33_497
+  2024-01-01: 34_602
 
 metadata:
   unit: currency-USD
@@ -13,7 +14,7 @@ metadata:
     # The law specifies $30,000, indexed to inflation from 2022 onward.
     # It does not specify the base year, so we use specific values from
     # the forms.
-    - title: California Revenue and Taxation Code §17052.1(b)(1)
+    - title: California Revenue and Taxation Code §17052.1(b)(1)(B)(ii)
       href: https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC&sectionNum=17052.1
     - title: Instructions for 2021 CalEITC Form 3514
       href: https://www.ftb.ca.gov/forms/2021/2021-3514-instructions.html
@@ -23,3 +24,5 @@ metadata:
       href: https://www.ftb.ca.gov/forms/2023/2023-3514-instructions.html
     - title: 2023 CalEITC Form 3514
       href: https://www.ftb.ca.gov/forms/2023/2023-3514.pdf#page=3
+    - title: 2024 CalEITC Form 3514
+      href: https://www.ftb.ca.gov/forms/2024/2024-3514.pdf#page=3

policyengine_us/parameters/gov/states/ca/tax/income/credits/young_child/phase_out/amount.yaml

@@ -2,18 +2,25 @@ description: California phases out its young child tax credit at this amount per
 values:
   2021-01-01: 20
   2022-01-01: 21.66
+  2024-01-01: 21.67
 
 metadata:
   unit: currency-USD
   period: year
   label: California young child tax credit phase out amount
   reference:
-    - title: California Section 17052.1(a)(2)(c)
+  # "The credit is reduced by twenty dollars ($20) for each one hundred dollars ($100), or fraction thereof, 
+  # by which the qualified taxpayer’s earned income, as defined in Section 17052, exceeds the “threshold amount."
+  # For Tax Years Starting January 1, 2024 (Clause (ii)(III)):
+  # The Franchise Tax Board calculates a graduated reduction amount that ensures the credit phases out to $0 
+  # exactly when the taxpayer’s income exceeds the maximum limit for eligibility.
+    - title: California Section 17052.1(a)(2)(C)(i)
       href: https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC&sectionNum=17052.1
     - title: 2021 CalEITC Form 3514
       href: https://www.ftb.ca.gov/forms/2021/2021-3514.pdf#page=3
     - title: 2022 CalEITC Form 3514
       href: https://www.ftb.ca.gov/forms/2022/2022-3514.pdf#page=3
     - title: 2023 CalEITC Form 3514
       href: https://www.ftb.ca.gov/forms/2023/2023-3514.pdf#page=3
-
+    - title: 2024 CalEITC Form 3514
+      href: https://www.ftb.ca.gov/forms/2024/2024-3514.pdf#page=3

policyengine_us/parameters/gov/states/ca/tax/income/credits/young_child/phase_out/increment.yaml

@@ -7,12 +7,14 @@ metadata:
   unit: currency-USD
   label: California young child tax credit phase out increment
   reference:
-    - title: California Section 17052.1(a)(2)(c)
+    - title: California Section 17052.1(a)(2)(C)(i)
       href: https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC&sectionNum=17052.1
     - title: 2021 CalEITC Form 3514
       href: https://www.ftb.ca.gov/forms/2021/2021-3514.pdf#page=3
     - title: 2022 CalEITC Form 3514
       href: https://www.ftb.ca.gov/forms/2022/2022-3514.pdf#page=3
     - title: 2023 CalEITC Form 3514
       href: https://www.ftb.ca.gov/forms/2023/2023-3514.pdf#page=3
+    - title: 2024 CalEITC Form 3514
+      href: https://www.ftb.ca.gov/forms/2024/2024-3514.pdf#page=3
 

policyengine_us/parameters/gov/states/ca/tax/income/credits/young_child/phase_out/start.yaml

@@ -2,18 +2,21 @@ description: California begins to phase out its young child tax credit at this i
 values:
   2019-01-01: 25_000
   2023-01-01: 25_775
+  2024-01-01: 26_626
 
 metadata:
   unit: currency-USD
   period: year
   label: California young child tax credit phase out start
   uprating: gov.states.ca.cpi
   reference:
-    - title: California Section 17052.1(a)(2)(c)
+    - title: California Section 17052.1(a)(2)(C)(i)
       href: https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC&sectionNum=17052.1
     - title: 2021 CalEITC Form 3514
       href: https://www.ftb.ca.gov/forms/2021/2021-3514.pdf#page=3
     - title: 2022 CalEITC Form 3514
       href: https://www.ftb.ca.gov/forms/2022/2022-3514.pdf#page=3
     - title: 2023 CalEITC Form 3514
       href: https://www.ftb.ca.gov/forms/2023/2023-3514.pdf#page=3
+    - title: 2024 CalEITC Form 3514
+      href: https://www.ftb.ca.gov/forms/2024/2024-3514.pdf#page=3

policyengine_us/reforms/states/dc/property_tax/dc_property_tax_reform.py

@@ -13,7 +13,7 @@ class dc_ptc(Variable):
             "https://otr.cfo.dc.gov/sites/default/files/dc/sites/otr/publication/attachments/52926_D-40_12.21.21_Final_Rev011122.pdf#page=49"
             "https://otr.cfo.dc.gov/sites/default/files/dc/sites/otr/publication/attachments/2022_D-40_Booklet_Final_blk_01_23_23_Ordc.pdf#page=47"
         )
-        defined_for = StateCode.DC
+        defined_for = "takes_up_dc_ptc"
 
         def formula(tax_unit, period, parameters):
             p = parameters(period).gov.contrib.states.dc.property_tax

setup.py

@@ -7,7 +7,7 @@
 
 setup(
     name="policyengine-us",
-    version="1.179.0",
+    version="1.180.1",
     author="PolicyEngine",
     author_email="[email protected]",
     long_description=readme,