Bill > HB2895

This bill creates a new tax credit for small businesses that employ youth workers, defined as individuals under 18 years old, to incentivize youth employment. The tax credit is $3 per hour worked by a youth worker, with a maximum of 1,300 hours per worker and a limit of three youth workers per business. To claim the credit, businesses must first obtain written certification from the Bureau of Labor and Industries and provide performance evaluations to the youth workers every six months. The credit can be applied against state income taxes and can be carried forward for up to three successive tax years if not fully utilized in the original tax year. The credit applies to both resident and non-resident taxpayers, with non-resident credits prorated according to existing tax laws. This tax credit program is set to be available for tax years beginning between January 1, 2025, and January 1, 2031, and will take effect 91 days after the adjournment of the 2025 legislative session. The bill aims to encourage small businesses to hire and develop young workers while providing them with valuable work experience and potential career opportunities.

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2895