Puerto Rico Earned Income Credit

policyengine_us/parameters/gov/territories/pr/tax/income/credits/earned_income/ineligible_income_categories.yaml

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+description: The earned income credit will be denied if the sum of the following forms of income is greater than the max limit.
+values:
+  2010-12-31: 
+  - interest_income
+  - dividend_income
+  - rental_income
+  - capital_gains
+  - child_support_received
+metadata:
+  unit: list
+  label: Puerto Rico income sources to calculate for credit denial criteria for earned income credit
+  reference:
+    - title: P.R. Laws tit. 13, § 30211 (e)
+      href: https://casetext.com/statute/laws-of-puerto-rico/title-thirteen-taxation-and-finance/subtitle-17-internal-revenue-code-of-2011/part-ii-income-taxes/chapter-1007-credits-against-tax/subchapter-b-refundable-credits/30211-earned-income-credit

policyengine_us/parameters/gov/territories/pr/tax/income/credits/earned_income/max_credit.yaml

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+description: Puerto Rico 
+values: 
+  2010-12-31: 350
+  2011-12-31: 400
+  2012-12-31: 450
+  2013-12-31: 500
+  2014-12-31: 550
+  2015-12-31: 600
+
+metadata:
+  unit: currency-USD
+  label: Puerto Rico earned income credit maximum amount
+  period: year
+  reference:
+    - title: P.R. Laws tit. 13, § 30211 (1)-(6)
+      href: https://casetext.com/statute/laws-of-puerto-rico/title-thirteen-taxation-and-finance/subtitle-17-internal-revenue-code-of-2011/part-ii-income-taxes/chapter-1007-credits-against-tax/subchapter-b-refundable-credits/30211-earned-income-credit

policyengine_us/parameters/gov/territories/pr/tax/income/credits/earned_income/max_investment_income.yaml

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+description: The following is the maximum amount allowed in certain forms of income (i.e. child support payments, interest) to receive the earned income credit.
+values: 
+  2010-12-31: 2_200 
+metadata:
+  unit: currency-USD
+  label: Puerto Rico maximum investment income to receive earned income credit
+  period: year
+  reference:
+    - title: P.R. Laws tit. 13, § 30211 (e)
+      href: https://casetext.com/statute/laws-of-puerto-rico/title-thirteen-taxation-and-finance/subtitle-17-internal-revenue-code-of-2011/part-ii-income-taxes/chapter-1007-credits-against-tax/subchapter-b-refundable-credits/30211-earned-income-credit

policyengine_us/parameters/gov/territories/pr/tax/income/credits/earned_income/phase_in_rate.yaml

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+description: Puerto Rico has a phase in rate to determine the amount of earned income credit for people that have an income below a certain limit. 
+values: 
+  2010-12-31: 0.035
+  2011-12-31: 0.04
+  2012-12-31: 0.045
+  2013-12-31: 0.05
+  2014-12-31: 0.055
+  2015-12-31: 0.06
+
+metadata:
+  unit: /1
+  label: Puerto Rico earned income credit phase in rate
+  period: year
+  reference:
+    - title: P.R. Laws tit. 13, § 30211 (1)-(6)
+      href: https://casetext.com/statute/laws-of-puerto-rico/title-thirteen-taxation-and-finance/subtitle-17-internal-revenue-code-of-2011/part-ii-income-taxes/chapter-1007-credits-against-tax/subchapter-b-refundable-credits/30211-earned-income-credit

policyengine_us/parameters/gov/territories/pr/tax/income/credits/earned_income/phase_out_rate.yaml

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+description: Puerto Rico has a phase out rate to calculate on any income greater than a certain limit.
+brackets:
+  - threshold: # if below the threshold, no phase out
+      2010-12-31: 0
+    rate:
+      2010-12-31: 0
+  - threshold: # if in the middle bracket, phase out percentage which subtracts from phase in part
+      2010-12-31: 10_000
+    rate:
+      2010-12-31: 0.02
+  - threshold: # no percentage rate for any amount of income above upper limit
+      2010-12-31: 22_500
+      2011-12-31: 25_000
+      2012-12-31: 27_500
+      2013-12-31: 30_000
+      2014-12-31: 32_500
+      2015-12-31: 35_000
+    rate:
+      2010-12-31: 0
+metadata:
+  rate_unit: /1
+  threshold_unit: currency-USD
+  label: Puerto Rico earned income credit phase out rate
+  period: year
+  reference:
+    - title: P.R. Laws tit. 13, § 30211 (1)-(6)
+      href: https://casetext.com/statute/laws-of-puerto-rico/title-thirteen-taxation-and-finance/subtitle-17-internal-revenue-code-of-2011/part-ii-income-taxes/chapter-1007-credits-against-tax/subchapter-b-refundable-credits/30211-earned-income-credit

policyengine_us/variables/gov/territories/pr/tax/income/credits/earned_income/pr_earned_income_credit_amount.py

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+from policyengine_us.model_api import *
+
+class pr_low_income_credit(Variable):
+    value_type = float
+    entity = Person
+    label = "Puerto Rico earned income credit"
+    unit = USD
+    definition_period = YEAR
+    reference = ""
+    defined_for = "pr_earned_income_credit_eligible"
+
+    def formula(tax_unit, period, parameters):
+        p = parameters(
+            period
+        ).gov.territories.pr.tax.income.credits.earned_income
+
+        # workflow:
+        # Calculate credit amount pre phase out
+        # Income * phase_in_rate capped at max_credit
+        # Calculate the phase_out
+        # p.phase_out_rate.calc(income)
+        # Calculate final value
+        # credit - phase_out
+        earned_gross_income = 10_000 # PLACEHOLDER for earned gross income, person level
+
+        # calculate phase in 
+        # what does p.phase_out_amount.threshold return? which threshold? 
+        upper_threshold = p.phase_out_amount.threshold[] 
+        # if gross income > upper threshold, calculate [bottom threshold * phase_in] - [(upper - bottom threshold) * phase_out]
+        # if gross income > lower threshold, calculate [bottom threshold (i.e. 10k) * phase_in] - [(income - bottom threshold) * phase_out]
+        # ELSE, calculate income * phase_in_rate
+
+
+        return False

policyengine_us/variables/gov/territories/pr/tax/income/credits/earned_income/pr_earned_income_credit_eligible.py

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+from policyengine_us.model_api import *
+
+class pr_earned_income_credit_eligible(Variable):
+    value_type = bool
+    entity = Person
+    label = ""
+    definition_period = YEAR
+    reference = ""
+
+    def formula(person, period, parameters):
+        p = parameters(
+            period
+        ).gov.territories.pr.tax.income.credits.earned_income
+        head_or_spouse = person("is_tax_unit_head_or_spouse", period)
+        adds = "gov.territories.pr.tax.income.credits.earned_income.ineligible_income_categories"
+        investment_income_amount_allowed = adds < p.max_investment_income 
+        # check that earned income is above 0?
+        return head_or_spouse & investment_income_amount_allowed