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06/27/2022 07:25 PM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20170&cosponId=21846
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Senate of Pennsylvania
Session of 2017 - 2018 Regular Session

MEMORANDUM

Posted: January 6, 2017 11:36 AM
From: Senator John C. Rafferty, Jr.
To: All Senate members
Subject: Corporate Net Income Tax Credit for Companies
 
In the very near future I will be reintroducing legislation, SB 473, that will provide employers with a tax credit against their corporate net income tax liability by hiring individuals 55 years of age or older for full-time employment.

The prevalence in downsizing and outsourcing in recent years has left thousands of qualified individuals out of work. A large number of these individuals are highly skilled with many years of experience in their respective fields. Coupled with this trend is the fact that the population of Pennsylvanians age 55 and older is growing rapidly. In an effort to gain the competitive advantage in today’s market, many companies have furloughed these employees to reduce costs and attract a contemporary workforce.

This legislation will encourage these companies to hire individuals over the age of 55 who are qualified to fill such vacancies.



Introduced as SB414