Bill > S1599

This bill creates a "jobs incentive credit" for businesses that create new jobs in the Commonwealth, defined as "eligible jobs" which are calculated based on factors like hours worked, location of work, and duration of employment, and are further weighted by a "job qualifier fraction" to account for part-time or out-of-state work. To qualify, a business must demonstrate an increase in its "weighted average employment" (the total number of jobs maintained in-state, adjusted by the job qualifier fraction) compared to the previous year, and the credit, which is 50% of the salary paid to eligible new employees subject to Massachusetts withholding tax, is spread equally over three years. Businesses must apply to the Commissioner of Revenue, providing details about the jobs created and employment figures, and must maintain their weighted average employment levels in the subsequent credit years to continue receiving the credit, with a limit of 50 jobs per company contributing to the credit calculation. The bill also mandates a cost-benefit analysis of the program by the Commissioner of Revenue, in consultation with higher education institutions, to be reported to the legislature by September 30, 2019, including recommendations for extending or revising the program.