Bill > S05141

This bill creates a job development incentive income tax credit available to employers who employ individuals who were previously receiving unemployment benefits. The credit is worth $2,400 per eligible employee, defined as a new employee who filed for unemployment, received benefits for at least two months, is currently receiving benefits, and remains employed by the employer for at least 24 consecutive months with at least 30 hours per week. The credit can be claimed for the taxable year in which the 24th month of employment is completed, and any unused credit can be carried forward for up to 5 years.