HI SB2248

Creates an employer continuing education tax credit allowing qualified employers to deduct a percentage of qualified costs from net income tax liability, with costs claimed in the year following expenditure.

Defines qualified costs as expenditures improving employee skills, training, and knowledge in their current field or position, including college courses, vocational programs, and certification programs.

Limits employers to a maximum tax credit based on qualifying costs annually, with any excess credit carrying forward to subsequent taxable years until exhausted.

Freezes employer contribution rates under employment security laws for calendar years 2010 and 2011 at their 2009 levels, even if employers hire additional employees, unless employee numbers increase by a specified threshold.

Tax credit applies to employers with at least a minimum number of full-time employees who fund continuing education for employees employed for at least twelve consecutive months; excess credits may be carried forward indefinitely.