Development of the Commonwealth.
"Federal family and medical leave tax credit." The tax
credit authorized under 26 U.S.C. ยง 45S (relating to employer
credit for paid family and medical leave).
Section 1703-M. Family and Medical Leave Tax Credit Program.
(a) Establishment.--The Family and Medical Leave Tax Credit
Program is established to supplement, not supplant, existing
Federal tax incentives for providing paid family and medical
leave to employees.
(b) Information.--To qualify for a tax credit under this
article, a business firm must submit information to the
department that enables the department to confirm the amount of
the Federal family and medical leave tax credit that the
business firm has received for providing paid family and medical
leave to employees in this Commonwealth.
(c) Application.--The following apply to an application for
a tax credit under this article that is submitted to the
department by a business firm:
(1) The application must account for the wages paid to
employees for which the business firm claimed the Federal
family and medical leave tax credit.
(2) The application must be on a form provided by the
department.
(3) The department shall consult with the United States
Internal Revenue Service as necessary to determine that the
business firm provides paid family and medical leave for
employees.
(4) The department shall review and approve or
disapprove the application.
(d) Notification.--The department shall notify the business
firm that the business firm meets the requirements under this
article for that fiscal year no later than 60 days after the
business firm has submitted the application required under this
section.
Section 1704-M. Availability of tax credits.
(a) Application and receipt.--A business firm may:
(1) Apply to the department for a tax credit in
accordance with section 1705-M.
(2) Receive a tax credit under this article equal to the
amount of the Federal family and medical leave tax credit
received for the most recently completed tax year.
(b) Limitations.--Tax credits under this section shall be
made available by the department on a first-come, first-served
basis within the limitation established under section 1706-M(a).
Section 1705-M. Grant of tax credits.
(a) Tax credit certificate.--In accordance with section
1706-M(a), the department shall grant a tax credit certificate.
The following apply:
(1) The certificate may be used against a tax liability
owed to the Commonwealth by a business firm that provides
proof of receipt of the Federal family and medical leave tax
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