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IN SB0260
Bill
Status
1/7/2015
Primary Sponsor
Ronald Grooms
Click for details
AI Summary
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Extends the small employer wellness program tax credit to cover costs incurred in 2012 through 2015, instead of the previous cutoff after 2011.
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Allows unclaimed tax credits from costs incurred in 2012 through 2015 to be carried forward to taxable years beginning after December 31, 2013 and before January 1, 2020.
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Changes the expiration date of the wellness program tax credit chapter from January 1, 2020 to January 1, 2024.
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Applies retroactively to January 1, 2012 for the credit eligibility period and January 1, 2014 for carryforward provisions.
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Declares an emergency for the act.
Legislative Description
Small employer wellness program tax credits. Extends the income tax credit for small employers that provide a qualified wellness program for their employees. Provides that the credit may be claimed for costs incurred in 2012 through 2015. (Current law provides that costs incurred after 2011 are not eligible for the credit.) Allows the credit to be carried forward through 2019.
Last Action
Senator Becker added as second author
2/10/2015