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SC H5243
Bill
Status
Introduced
2/24/2026
Primary Sponsor
Brandon Newton
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AI Summary
- Increases the annual tax credit against withholding for employee retraining from $1,000 to $2,000 per production, technology, or warehousing and distribution employee
- Raises the maximum five-year cumulative credit per retrained employee from $5,000 to $10,000
- Expands eligible retraining purposes to include upgrading skills of incumbent employees, in addition to remaining competitive or introducing new technologies
- Removes the exclusion for cross-training employees on equipment or technology not new to the company, making such training now eligible for the credit
- Takes effect upon Governor's approval and applies to income tax years beginning after 2026
Legislative Description
Credit against withholding
Last Action
Referred to Committee on Ways and Means
2/24/2026
Committee Referrals
Ways and Means2/24/2026
Full Bill Text
No bill text available