CT SB00390

Extends the Job Expansion Tax Credit Program by moving the hiring deadline from January 1, 2014 to January 1, 2016 for new, qualifying, and veteran employees.

Provides monthly tax credits of $500 per new employee or $900 per qualifying or veteran employee, claimable for up to three consecutive income years.

Requires taxpayers to create minimum numbers of new jobs based on current workforce size: 1 job for employers with ≤50 employees, 5 jobs for employers with 51-100 employees, and 10 jobs for employers with >100 employees.

Limits total credits granted under this program and related job creation tax credits to $20 million per fiscal year.

Becomes effective July 1, 2013, and applies to employees hired between January 1, 2012 and January 1, 2016.