Introduced
by
To authorize a Single Business Tax (SBT) credit equal to three percent of the compensation paid to new employees by a business with gross receipts less than $10 million, if the workforce expansion meets certain criteria specified in the bill.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that reduces the proposed Single Business Tax (SBT) credit to one percent of the compensation paid to new employees.
The substitute passed by voice vote
Passed in the Senate 28 to 9 (details)
To authorize a Single Business Tax (SBT) credit equal to one percent of the compensation paid to new employees by a business with gross receipts less than $10 million, if the workforce expansion meets certain criteria specified in the bill.
Referred to the Committee on Commerce
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Amendment offered
by
To make the proposed tax break conditional on the firm paying wages for the new jobs that exceed the industry standard.
The amendment failed by voice vote
Passed in the House 104 to 1 (details)
To authorize a Single Business Tax (SBT) credit equal to one percent of the compensation paid to new employees by a business with gross receipts less than $10 million, if the workforce expansion meets certain criteria specified in the bill.
