HB 2326 Summary

• Modifies the Small Employer Quality Jobs Incentive Act by adding "mining activities" (NAICS Industry Group 212) to the definition of basic industry and introducing a new "rural value-added area" classification for economically distressed counties.

• Extends incentive payment periods from 7 years to 10 years for establishments located in rural value-added areas that meet specific poverty and economic criteria.

• Reduces out-of-state sales requirements from 75% to 50% for qualifying establishments in rural value-added areas, while maintaining the 75% threshold for other locations.

• Establishes a maximum average wage requirement of $25,000 for establishments in rural value-added areas, indexed annually based on Consumer Price Index changes.

• Updates employment timeline requirements, allowing applicants up to 24 months (previously 12 months) to achieve minimum employment targets, with extended 36-month periods for technology and research companies.