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IN SB0009
Bill
Status
1/14/2019
Primary Sponsor
John Ruckelshaus
Click for details
AI Summary
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Creates a state tax credit for employers whose minimum wage employees complete career enhancement training programs (high school equivalency diplomas, workforce certificates, or postsecondary career/technical credentials) and receive subsequent wage increases
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Credit amount equals 50% of the difference between the employee's earnings before and after the wage increase, calculated over a 365-day "credit validation period" following the raise
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Maximum credit per employer is $10,000 per taxable year, with a statewide cap of $1,000,000 in total credits approved annually
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Employees must be Indiana residents, employed at least 12 consecutive months at minimum wage, not be students, and receive state or employer assistance to pay for training costs
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Unused credits may be carried forward for 9 consecutive taxable years; program expires January 1, 2035, with no new applications approved after December 31, 2024
Legislative Description
Worker career enhancement tax credit. Provides a credit against state tax liability to an eligible employer of an employee who earns the federal or state minimum wage, completes a career enhancement training program, receives a wage increase following completion of the program, and remains employed for at least a year after receiving the wage increase. Provides that the amount of the credit is 50% of the difference between the employee's compensation before and after the employee receives the wage increase.
Last Action
First reading: referred to Committee on Pensions and Labor
1/14/2019