Bill > A5361

Introduced Session

This bill provides corporation business tax credits and gross income tax credits to employers that employ qualified employees who received employment-related assistance through a One-Stop Career Center. Under the bill, a taxpayer is allowed a tax credit based on the salary and wages paid to each qualified employee during the tax period. However, the bill limits the amount of the tax credit to $3,000 per qualified employee. The bill requires the amount of the tax credit to be prorated for each qualified employee who was not employed by the taxpayer for the entire tax period. The bill also provides that a taxpayer can only claim the tax credit for the salary and wages paid to a qualified employee who has been employed for a minimum period of 90 calendar days. Any amount of any unused tax credit may be carried forward to the seven tax periods following the year for which the tax credit was issued, after which the tax credit expires. As defined in the bill, "qualified employee" means an individual who is employed by a taxpayer in this State, which individual was unemployed for at least 60 calendar days prior to the date of employment by the taxpayer, and which individual has attended all required training services provided through the One-Stop Career Center and achieved an industry valued or nationally recognized credential during the period of unemployment immediately preceding the date of employment by the taxpayer. A "One-Stop Career Center" means any of the facilities established, sponsored, or designated by the State, a political subdivision of the State, and a Workforce Investment Board in a local area to coordinate or make available State and local programs providing employment and training services or other employment-directed and workforce development programs and activities, including job placement services, and any other similar facility as may be established, sponsored, or designated at any later time to coordinate or make available any of those programs, services, or activities. The bill requires the Director of the Division of Taxation to determine the form and manner by which a taxpayer can apply for the tax credit. The director is also required to collaborate with the Commissioner of Labor and Workforce Development, as appropriate, to determine the hiring and employment information to be included by the taxpayer and to confirm that each qualified employee attended all required training services provided through a One-Stop Career Center and achieved an industry valued or nationally recognized credential during the period of unemployment immediately preceding the date of employment by the taxpayer.

AI Summary

Committee Categories

Bill Moen (D)*, 

Introduced, Referred to Assembly Labor Committee (on 02/25/2025)

Official Document