Jobs tax credit bill goes to House

Here’s a news item from the Associated Press:  BOISE, Idaho (AP) — Lawmakers are hoping to boost Idaho’s struggling economy by giving businesses more incentives to create new jobs for the next three years. The Idaho Chamber Alliance brought the bill to the House Revenue and Taxation Committee, where lawmakers approved the measure Thursday. The bill now goes to the full House. The legislation would allow an employer to receive a portion of their new employee’s income taxes in the form of a 4 percent refundable tax credit of a new employee’s gross wage. To receive the credit, companies would have to hire new people earning at least $12 an hour with benefits. The chamber alliance says that the money returned to companies would go into hiring more workers and growing their businesses. The legislation would sunset Dec. 31, 2013.