Bill
SB 5472
Overview: SB 5472 - Providing incentives to employers to hire certain hard-to-place job seekers.Purpose and Intent: This bill aims to encourage employers to hire individuals who fa
Overview: SB 5472 - Providing incentives to employers to hire certain hard-to-place job seekers.
Purpose and Intent: This bill aims to encourage employers to hire individuals who face significant barriers to employment, such as those with criminal records, disabilities, or limited work experience. The goal is to help these hard-to-place job seekers gain meaningful employment and support their successful reintegration into the workforce.
Key Provisions:
- Establishes a tax credit for employers who hire and retain eligible hard-to-place job seekers
- Defines eligible job seekers as those with criminal records, disabilities, or limited work experience
- Sets the tax credit amount at a percentage of the employee's wages, with higher credits for longer retention periods
- Requires the Employment Security Department to administer the tax credit program and provide outreach to eligible employers
Affected Parties and Impacts:
- Employers who hire and retain eligible hard-to-place job seekers, benefiting from the tax credit
- Individuals with criminal records, disabilities, or limited work experience, who gain access to employment opportunities
- The state, which may see a reduction in tax revenue due to the tax credits but potentially offset by increased economic activity and reduced social service costs
Procedural and Timeline Considerations:
The bill has been reintroduced and retained in its current status. Further legislative action and potential amendments are expected as the bill progresses through the legislative process.
Compiled from official sources — confirm details with the bill’s official record.
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