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Senate Co-Sponsorship Memoranda
Senate of Pennsylvania
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | August 4, 2023 09:27 AM |
|---|---|
| From: | Senator Tracy Pennycuick |
| To: | All Senate members |
| Subject: | National Guard Employer Tax Credit |
| In the near future, I will be introducing legislation to incentivize hiring of Pennsylvania National Guard members through the establishment of the Pennsylvania National Guard Employer Tax Credit Program. The Pennsylvania National Guard is routinely recognized as one of the finest national guards in the nation. This largely part-time force is comprised of highly skilled individuals, whose talents and skill sets learned over the course of service can be tremendous assets to businesses in the private sector. Guard members are in the unique position of fulfilling both military service and civilian obligations. To incentivize private sector employment and retention of those volunteering for service, and maintaining adequate National Guard force strength, my legislation will allow for a business to apply for a $1,000 tax credit if:
The tax credit can be claimed per qualifying employee and can be used to offset income or corporate net income tax liabilities. Credits that cannot be used in their entirety for the current tax year may be carried forward for up to three taxable years. A total of $5,000,000 worth of credits will be made available under this proposal. By incentivizing the hiring and retention of our Guard members, we can help to maintain recruitment and ensure that our Guard has the manpower necessary to meet future challenges. I hope you will join me in cosponsoring this worthwhile legislation to support the businesses that employ the men and women who serve the Commonwealth. Should you have any questions, please contact Matt Szuchyt in my office. |
Introduced as SB985