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Pennsylvania State Senate
11/08/2024 11:14 PM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?SPick=20130&chamber=S&cosponId=10313
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Senate of Pennsylvania
Session of 2013 - 2014 Regular Session

MEMORANDUM

Posted: December 21, 2012 12:08 PM
From: Senator John C. Rafferty, Jr.
To: All Senate members
Subject: CNIT Credit for Employers Hiring Individuals Over 55
 
I will re-introduce legislation, SB945, 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 SB549


Memo Updated: December 21, 2012 12:09 PM