HB212 Summary

• Authorizes annual jobs tax credits for companies operating manufacturing, tourism, processing, warehousing, distribution, research and development, corporate offices, and other qualifying facilities, with credit amounts ranging from $1,500 to $8,000 per new full-time job depending on county economic designation.

• Requires taxpayers to create minimum 10 full-time jobs (2 jobs for small employers with 99 or fewer employees) and maintain employment levels for 5-year credit periods, with credits available beginning in year two after job creation.

• Establishes county designation system (distressed, underdeveloped, moderately developed, developed) based on per capita income and unemployment rates, with enhanced credits for military installation areas, rural counties without interstate highways, and areas experiencing significant job losses.

• Provides infrastructure project tax credits equal to 50 percent of expenses (capped at $10,000 annually) for water, sewer, and road improvements not exclusively benefiting the taxpayer, with unused credits carried forward up to 3 years and maximum $30,000.

• Creates welfare-to-work tax credit of 20-10 percent of wages for employers hiring welfare recipients over 36 months, plus additional $175 monthly credit for employment in distressed or least developed counties, with health insurance requirement.