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IN HB1571
Bill
Status
1/17/2019
Primary Sponsor
Martin Carbaugh
Click for details
AI Summary
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Creates a state income tax credit for employers who establish group disability income protection plans for employees, effective January 1, 2020
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Credit equals 25% of costs for establishing and administering the plan, plus $100 per enrolled employee (capped at $10,000 for the per-employee portion)
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Long-term disability plans must have elimination periods of no more than 180 days, replace at least 50% of predisability earnings, and offer benefits for at least 24 months
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Short-term disability plans must have elimination periods of no more than 30 days, replace at least $200 of earnings, and offer benefits for at least 6 months
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Employers may claim the credit for a maximum of 3 taxable years, with unused credits eligible for carryforward but not carryback or refund
Legislative Description
Tax credit for employer provided disability plan. Provides a state income tax credit for employers that establish a group disability income protection plan for their employees.
Last Action
First reading: referred to Committee on Ways and Means
1/17/2019