The Governor’s bill, Job Creation and Recovery Tax Credit – HB92, was presented to the Ways and Means Committee today. This emergency bill will offer Maryland businesses a $3,000 tax credit for every unemployed Marylander it hires. The bill includes a one-year program: capped at $20 million, and $250,000 per employer. The worker must be employed for at least one year, and must fill a position that is new and that has been vacant for the prior six months. This tax credit applies to employees who are currently receiving unemployment insurance benefits or who were in the past year.
The object of this bill is to get Marylanders off the unemployment insurance and back to work so that they can provide for their families and have a more stable future.