Amendment #47 to H4000

Tax Credit for Small Businesses

Representatives Jones of North Reading, Peterson of Grafton, Hill of Ipswich, Poirier of North Attleborough and deMacedo of Plymouth move to amend the bill by inserting at the end thereof the following new section: -

“SECTION XX. Section 6 of chapter 62 of the General Laws, as so appearing in the 2012 Official Edition, is hereby amended by adding after subsection (r) the following new subsection:-

(s) There is hereby established a credit for small businesses when hiring new employees. Eligible small businesses will be those with one or more full-time equivalent employees unrelated to its owners or partners but no more than fifty of such employees calculated on an average annually. The credit shall be $500 for each newly hired full time employee hired in the first three quarters of each fiscal year, not to exceed $5,000 per business per calendar year. This section shall expire on July 1, 2019.”.