DE HB212 | 2015-2016 | 148th General Assembly
Status
Spectrum: Partisan Bill (Republican 16-0)
Status: Introduced on June 25 2015 - 25% progression, died in chamber
Action: 2016-03-16 - Amendment HA 1 - Introduced and Placed With Bill
Text: Latest bill text (Draft #1) [HTML]
Status: Introduced on June 25 2015 - 25% progression, died in chamber
Action: 2016-03-16 - Amendment HA 1 - Introduced and Placed With Bill
Text: Latest bill text (Draft #1) [HTML]
Summary
This Bill will establish a tax credit for any business with operations in Delaware that hires a new full time employee in an amount that is equal to the amount of workers compensation and unemployment insurance payments that the employer makes on behalf of that employer. The employers will be able to claim 100% of the tax in the first year of new employment, 75% in the second year, and 25% in the third year. The Tax Credit will be based off the number of full time employees that were employed in the year preceding the first year a tax credit is claimed. The Bill requires that employers with 21-50 employees hire 5 new employees before they are eligible for the tax credit, and employers with 51+ employees hire 10 new employees before they are eligible for the tax credit. This bill will become effective the January 1 following its enactment. The Credit will expire for any tax year that begins after December 31, 2021.
Title
An Act To Amend Title 30 Of The Delaware Code Relating To Business Tax Credits.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2016-03-16 | House | Amendment HA 1 - Introduced and Placed With Bill |
| 2015-06-25 | House | Introduced and Assigned to Revenue & Finance Committee in House |
