04/22/1998 03:20 PM House L&C

HB 433 - TAX CREDIT FOR HIRING STATE RESIDENTS                                 
                                                                               
Number 0218                                                                    
                                                                               
CHAIRMAN ROKEBERG announced HB 433, "An Act establishing a tax                 
credit for taxpayers engaged in a trade or business who employ                 
certain persons who are state residents; and providing for an                  
effective date," sponsored by the chairman is before the committee.            
                                                                               
CHAIRMAN ROKEBERG referred to the committee substitute which was               
modified before it was heard.                                                  
                                                                               
Number 0221                                                                    
                                                                               
REPRESENTATIVE COWDERY made a motion to adopt proposed committee               
substitute, Version LS0656\F, 3/4/98 for purposes of discussion.               
                                                                               
REPRESENTATIVE RYAN requested an at ease.                                      
                                                                               
CHAIRMAN ROKEBERG called a brief at ease at 3:53 p.m.                          
                                                                               
CHAIRMAN ROKEBERG called the meeting back to order at 3:55 p.m.  He            
said, "Just for the -- we're going to request the committee to --              
change the committee substitute fundamentally was we have adopted              
by the record a package for it, was to move it from a $1,000 to a              
$500 tax credit.  This particular legislation would provide to a               
company for employment of those qualified individuals a tax credit             
of $500 not to exceed a aggregate of $75,000 in any one year.  Now             
for those individuals who had been in the state an actual year, and            
had been a graduate of, or a student at a qualifying post secondary            
educational student, which is defined in the bill."                            
                                                                               
Number 0233                                                                    
                                                                               
REPRESENTATIVE COWDERY made a motion to move CSHB 433 with                     
individual recommendations and attached committee fiscal note.                 
There being no objections CSHB 433(L&C) moved from the House Labor             
and Commerce Standing Committee.