Bills › 89th General Assembly
Creating a growing our workforce tax credit available against the individual and corporate income taxes, the franchise tax, and the insurance premiums tax, and including effective date and retroactive applicability provisions
Where it is now
- Done: IntroducedJanuary 11, 2022
- Done: SubcommitteeJanuary 12, 2022
- Stopped: House committeeDied when the General Assembly ended
- Next: Passes the House
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2022 session adjourned on May 24, 2022, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
AI summary Businesses can receive a tax credit for every apprentice or trainee they employ for at least seven months in a year. This credit helps lower the amount of income or insurance taxes a company owes. Employers can only claim this credit for the same person for up to four years.1
Read the official explanation
This bill creates a growing our workforce tax credit that is available against individual and corporate income taxes, franchise tax, and insurance premiums tax. The credit is $1,000 for each apprentice or trainee that is employed by an employer for at least seven calendar months of the tax year. “Apprentice” and “trainee” are defined in the bill. An employer is prohibited from taking the credit for more than four tax years for the same apprentice or trainee. The economic development authority is required to adopt rules to administer the bill. The bill is effective upon enactment and applies to tax years beginning on or after January 1, 2022.
House subcommittee
Named January 12, 2022. Meeting: Wednesday, February 2 · 5:00 PM · House Lounge.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part