Current Amendment: 3700R021.SRM.DOCX to Bill 3700
Senator MASSEY proposes the following amendment (3700R021.SRM.DOCX):
Amend the bill, as and if amended, Part IB, Section 67, DEPT. OF EMPLOYMENT & WORKFORCE, page 449, line 24 , by adding an appropriately numbered new proviso to read:
/ 67. . (ESC: Unemployed Tax Credit) (A) As used in this section, 'creditable employee' means an employee of a taxpayer employer who (1) was unemployed for four consecutive weeks immediately before being hired by the employer, (2) is first employed by the employer before December 1, 2011, and (3) the employer executes and provides a notarized affidavit swearing or affirming that the employee is eligible to work in the United States because the person is either a United States citizen or a lawfully present alien according to federal law.
(B) An employer who has one or more creditable employees and who provides a notarized affidavit attesting to use of the federal employment verification system now known as 'E-Verify', or any future federal employment verification system, is eligible to apply for and receive a credit against these taxes as provided in subsection (C) of this section. The amount of the credit is one thousand dollars for each creditable employee. Eligibility for the credit must be established as of the time the creditable employee completes thirty consecutive days of employment and the credit must be claimed for the 2011 taxable year.
(C) The credit allowed pursuant to subsection (B) of this section may be taken against income taxes, the bank tax imposed pursuant to Chapter 11, Title 12, the savings and loan association tax imposed pursuant to Chapter 13, Title 12, the corporate license tax imposed pursuant to Chapter 20, Title 12, and insurance premium taxes imposed pursuant to Chapter 7, Title 38.
(D) The total amount of any tax credit for the 2011 taxable year may not exceed the taxpayer's tax liability. Any unused tax may not be carried over to apply to the taxpayer's succeeding year's liability.
Renumber sections to conform.
Amend sections, totals and title to conform.