LD 1135, Page 3 - 121th Legislature, FIRST REGULAR Session

	4. Limitations; carry-over. The amount of the credit that
may be used by a taxpayer for a taxable year may not exceed
50% of the state income tax otherwise due under this Part for
that year. The unused portion of any credit may be carried
over to the following year or years for a period not to exceed
2 years. The credit allowable under this section may not be
carried back to prior years.

SUMMARY

This bill expands the income tax credit for certain small
businesses that provide health insurance covering the
dependents of low-income employees. The credit is extended to
employers with 10 or fewer employees, regardless of their
income level. The credit is made applicable to expenditures
for health insurance for employees as well as dependents, and
the maximum credit per employee or dependent is increased to
$1,000.

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