Bill
SB 1403
Overview: SB 1403, Quality jobs incentives; modifying wage requirements; modifying period to claim rebate. Effective date, Authored by Senator Rader, Introduced February 19, 2025Pu
Overview: SB 1403, Quality jobs incentives; modifying wage requirements; modifying period to claim rebate. Effective date, Authored by Senator Rader, Introduced February 19, 2025
Purpose and Intent: The purpose of this bill is to modify the state's Quality Jobs incentive program to make it more accessible for businesses and workers.
Key Provisions:
- Reduces the minimum hourly wage requirement for the Quality Jobs rebate from $15 to $12.
- Extends the period businesses can claim the Quality Jobs rebate from 5 years to 7 years.
- Expands eligibility for the program to include more small and medium-sized businesses.
- Increases the maximum rebate amount from 5% to 7% of new payroll for qualifying jobs.
Affected Parties and Impacts: This bill would benefit businesses by lowering the wage threshold and extending the rebate period for the Quality Jobs program. It could incentivize more companies to create higher-paying jobs and expand operations in the state. Workers may also benefit from increased job opportunities, though the lower wage requirement could impact income levels.
Procedural and Timeline Considerations: The bill was authored by Senator Rader and is currently in the legislative process. If passed, the modified Quality Jobs incentives would take effect immediately upon the bill's enactment.
Compiled from official sources — confirm details with the bill’s official record.
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