Loading chat...
IN SB0015
Bill
Status
1/3/2018
Primary Sponsor
John Ruckelshaus
Click for details
AI Summary
Senate Bill 15 Summary
-
Establishes a tax credit for employers whose minimum wage employees complete approved career enhancement training programs, including high school equivalency diplomas, workforce-related degrees, or postsecondary career and technical certifications.
-
Credit amount equals 50% of the difference between an employee's annual compensation before and after completing the training program.
-
Employee must have worked for the employer at least 12 consecutive months before starting training and remain employed at least 12 consecutive months after receiving a wage increase.
-
Maximum total credits allowed per state fiscal year is $1,000,000, with applications approved on a first-come, first-served basis; unused credits may be carried forward for up to 9 consecutive years.
-
Credit program applies to taxable years beginning after December 31, 2018, with new credits unavailable after December 31, 2023, though carryforward credits may be used through January 1, 2034; the chapter expires January 1, 2034.
Legislative Description
Worker career enhancement tax credit. Provides a credit against state tax liability for an employer of an employee earning the federal or state minimum wage who completes a career enhancement training program (program). Provides that the amount of the credit is 50% of the difference between the employee's annual compensation before and after the employee completes the program.
Last Action
Senator Bohacek added as coauthor
1/22/2018