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Bill Positions
Bill
Number: HB 92
Bill Title:
Labor and Employment - Job Creation and Recovery Tax Credit
Bill Sponsor(s):
Speaker (Admin.) et al
Subject:
Budget & Taxation
Committee:
W&M
Bill Summary:
This bill would have provided a $5,000 income tax credit to employers that hired an unemployed Maryland resident during calendar year 2010 into a full-time position that is new or has been vacant for at least 6 months. Employers would have obtained certification for the credit by submitting required documentation to DLLR, then claiming the credit when filing their income tax return. If the employee worked less than a year the credit would have been pro-rated. Total credit amounts were capped at $250,000 per employer and $20 million for the total program.
History: HB 92 passed the House, but died without a vote in the Senate Budget & Taxation Committee. A companion Senate bill, SB 106, was enacted as Chapter 1 of the Acts of 2010. Chamber Position: Support w/Amend
Position
Summary: We are appreciative of the Governor's efforts to put Marylanders back to work. There are many existing state programs that could promote job growth if they were allowed more funding, including road projects, and DBED loan and grant programs. We were concerned that the bill in its original form would have provided inadequate incentive for businesses to hire new employees. Therefore we suggested that the maximum credit amount be increased from $3,000 to $5,000 per new hire, while retaining the overall spending cap of $20 million.
Position Statement: To view the Chamber's complete position statement, click here (pdf).
Chamber Staff: Ronald Wineholt
General
Assembly: Click
here to view the bill on the Maryland General Assembly's
website.
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