DE HB212

Establishes a new hire tax credit for any Delaware business that hires new full-time employees, equal to workers compensation and unemployment insurance payments made on behalf of each qualified employee.

Qualified employees must work at least 30 hours per week for a minimum of 3 months in the tax year the credit is claimed and must increase the employer's base year employment level.

Tax credit amounts decrease over time: 100% in the first employment year, 75% in the second year, and 25% in the third year, with no credit available in the fourth and subsequent years.

Tax credits must be claimed in the year earned or are forfeited, though failure to claim in one year does not affect eligibility for future years.

Effective January 1 of the year following enactment, with sunset date of December 31, 2021 (no credits may be claimed for tax years beginning after that date).