House Bill 1428
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DIGEST OF INTRODUCED BILL
Tax credit for hiring unemployed persons. Provides a nonrefundable $750 tax credit per employee to a taxpayer that hires an employee that has drawn unemployment funds in Indiana for at least the three previous months if the taxpayer employs the individual for at least 180 days during the taxable year. Provides that the credit is available only in years that the state unemployment rate is above 7.5 % sometime during that calendar year. Provides that the credit is reduced by any economic development for a growing economy tax credits attributable to the same employee, any Hoosier business investment tax credits attributable to the same employee, or the amount of federal or state training grants used in the taxable year to train the employee. Provides that the taxpayer may carry any excess credit over to not more than three subsequent taxable years.
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| ||In Committee - first House|