SB 310 Summary

• Establishes a state income tax credit for employers that pay or provide reimbursement for health benefit plans offered to employees, in addition to any existing credit under IC 6-3.1-31-8.

• Limits the credit to the least of: 25% of amounts paid or reimbursed, $5,000 total, or $100 per employee participating in the plan per taxable year.

• Requires employers to pay or reimburse health plan costs on an equal basis for all full-time employees who elect to participate.

• Allows unused credits to carry forward to subsequent taxable years, but prohibits carrybacks and refunds of unused credits.

• Effective retroactively January 1, 2010, with provisions expiring January 1, 2012.