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Introduced House Bill (H)

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DIGEST

Employee relocation tax credit. Provides an individual income tax credit against state income tax liability of an individual that relocates to Indiana to accept employment with an Indiana employer in a high demand, unfilled job in: (1) manufacturing; or (2) science, technology, engineering, or mathematics. Requires the Indiana department of work force development (DWD) to establish a registry of high demand, unfilled jobs for purposes of determining eligibility for the tax credit. Requires the DWD to collaborate with private employers and other entities in determining the jobs that are placed on the registry. Provides that an individual is entitled to Employee relocation tax credit. Provides an individual income tax credit against state income tax liability of an individual that relocates to Indiana to accept employment with an Indiana employer in a high demand, unfilled job in: (1) manufacturing; or (2) science, technology, engineering, or mathematics. Requires the Indiana department of work force development (DWD) to establish a registry of high demand, unfilled jobs for purposes of determining eligibility for the tax credit. Requires the DWD to collaborate with private employers and other entities in determining the jobs that are placed on the registry. Provides that an individual is entitled to the tax credit if the individual: (1) relocates to Indiana from out of state to accept a high demand, unfilled job in Indiana; (2) applies for and is issued a tax credit certificate from the DWD; (3) is a resident of Indiana; and (4) during the taxable year, is employed with the same employer that initially hired the individual. Provides that the tax credit may be claimed for: (1) the taxable year in which the individual relocates to Indiana to accept employment with an Indiana employer; and (2) the next four consecutively succeeding taxable years (the tax credit may not be claimed in more that five taxable years). Provides that the tax credit amount is 100% of the individual's adjusted gross income tax liability for the taxable year. ... View more