Bill > S04841

This bill creates a jobs development incentive income tax credit available to employers who employ individuals previously receiving unemployment benefits. The credit is worth $2,400 for each eligible "creditable employee" who meets certain criteria, including being a new employee, having received unemployment benefits for at least two months, and remaining employed for at least 24 consecutive months. 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. The bill amends the tax law to establish this new tax credit.