Bills · 2011-2012 Regular Session
an income and franchise tax credit for hiring unemployed individuals.
- Introduced, stopped here
- Passes Senate, not reached
- Passes Assembly, not reached
- Governor signs, not reached
- Law, not reached
Unfamiliar terms? Glossary
What this bill does
Plain-language analysis by the nonpartisan Legislative Reference Bureau
This bill allows a taxpayer to claim an income and franchise tax credit equal to
$5,000 for each unemployed state resident hired by the taxpayer in the taxable year
to work a full-time job at the taxpayer's business in this state. The maximum
amount of all such credits that a taxpayer may claim is $250,000. If the amount of
the credit exceeds the taxpayer's tax liability, the taxpayer does not receive a refund,
but may carry forward the amount of any unused credit to subsequent taxable years.
What it would cost
Fiscal estimates filed by state agencies, as official PDFs
Sponsors
Full history
- Sep 27, 2011 · Senate
Introduced by Senator Wanggaard;Cosponsored by Representatives Petryk, Bies, E. Coggs and Doyle
- Sep 27, 2011 · Senate
Read first time and referred to committee on Economic Development and Veterans and Military Affairs
- Oct 18, 2011 · Senate
Public hearing held
- Oct 21, 2011 · Senate
Fiscal estimate received
- Mar 23, 2012 · Senate
Failed to pass pursuant to Senate Joint Resolution 1