Small Business Relief Tax Credit – Expansion

Bill Number:  SB0089

Bill Sponsor(s):  President of the Senate

Subject:  Budget and Taxation

Bill Summary:

Altering the definition of “qualified employee” to include certain individuals who are provided certain paid parental leave for purposes of a credit against the State income tax for certain small businesses that provide certain employer benefits to certain qualified employees; altering the calculation of the credit; increasing, from $5,000,000 to $10,000,000, the total amount of tax credit certificates that may be issued by the Department of Commerce for each taxable year; applying the Act to all taxable years beginning after December 31, 2018; etc.

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