Provides a 50% tax credit for new income tax revenue generated by a new employee.

The bill introduces a job creation tax credit, offering a 50% tax credit for new income tax revenue generated by a new employee. This credit can be claimed over a period of up to 10 years. To qualify, businesses must submit a detailed project description to the Department of Economic Development, which will monitor and certify the additional employment. Companies must maintain employment in the state for twice the number of years as the term of the tax credit.

Provides a 50% tax credit for new income tax revenue generated by a new employee.

The bill introduces a job creation tax credit, offering a 50% tax credit for new income tax revenue generated by a new employee. This credit can be claimed over a period of up to 10 years. To qualify, businesses must submit a detailed project description to the Department of Economic Development, which will monitor and certify the additional employment. Companies must maintain employment in the state for twice the number of years as the term of the tax credit.