Signing bonus ... for employers
The state Senate today approved a plan to give businesses a $5,000 tax credit for each unemployed Marylander they hire. Lawmakers went beyond the $3,000 Gov. Martin O'Malley had proposed.
The tax credits are limited to $250,000 per employer, and the state will cut off the program at $20 million. The legislation also accounts for potential problems by requiring the new employee to be filling a new position or one that has been vacant at least six months.
O'Malley said in a statement the plan serves two purposes, "creating jobs and protecting the small and family owned businesses that are the backbone of our economy and the driving force for job creation."
The House of Delegates must vote on the proposal, but leaders there believe it has the support to pass.