SB 2165 Summary

• Creates a nonrefundable income tax credit for taxpayers who hire individuals age 60 or older, equal to 50% of qualified wages for the first six months of employment.

• Annual tax credit limit per taxpayer is left blank in the bill text and must be filled in; unused credits may be carried forward to subsequent taxable years.

• Excludes wages paid to relatives (as defined by Internal Revenue Code section 152(d)(2)), dependents, or individuals previously employed by the same taxpayer.

• Requires credit claims be filed within 12 months following the taxable year, with failure to meet this deadline constituting a waiver of the credit right.

• Applies to taxable years beginning after December 31, 2018; director of taxation authorized to prepare forms and adopt administrative rules.