DE SB74

Extends the New Economy Jobs Credit eligibility period from 9 to 10 taxable years after the first certified year for qualified employers.

Allows qualified employers to pro-rate job creation credits in their first certified year based on the number of months they employed qualified employees.

Changes the salary threshold to a fixed amount of $112,200 that is subject to annual inflation adjustments, with adjustments calculated before each calendar year using the Consumer Price Index.

Adds provisions allowing the Secretary to reverse disqualifications resulting from extraordinary circumstances and permits disqualified employers to reapply with a new base year.

Introduces penalties allowing the Secretary to assess unpaid taxes, penalties, and interest against applicants determined to lack good faith basis for claiming the tax credit.