Bill > S531

Introduced Session

This bill provides corporation business tax (CBT) credits and gross income tax (GIT) credits to farm employers for providing lodging or transportation benefits. The bill provides farm employers with tax credits in an amount equal to $250 for each employee that the farm employer provides lodging to, and up to $500 for each employee that the farm employer provides transportation benefits to during the taxable year. The lodging provided to an employee is required to be: (a) furnished on the premises of the farm employer's business; (b) furnished for the convenience of the farm employer; (c) required as a condition of employment; and (d) for a continuous period of at least six weeks during the taxable year. The transportation benefit provided by the farm employer is to assist with an employee's cost to commute or travel to or from work by reimbursing the employee for related and substantiated expenses. Any amount of the tax credit that cannot be applied against a farm employer's CBT liability for a privilege period can be carried forward to the four privilege periods following the privilege period for which a portion of the tax credit was allowed. If the GIT credit exceeds farm employer's liability, the farm employer can receive a refund for the amount in excess. The bill requires the Director of the Division of Taxation in the Department of the Treasury to determine the form and manner by which a taxpayer can apply for the tax credit.

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Stephen Sweeney (D)*, 

Introduced in the Senate, Referred to Senate Budget and Appropriations Committee (on 01/14/2020)

Official Document