Signed by Governor Larry Hogan, Jr.

Vote Smart's Synopsis:

Vote to pass a bill that establishes a tax credit for certain aerospace and electronics businesses.

Highlights:

• Authorizes a business operating an aerospace, electronics, or defense contract with at least 10,000 full-time employees to be eligible for an income tax credit of $250 per employee, up to $2.5 million (Sec. 1). 

• Reduces the tax credit established by the provisions of this bill by a proportionate amount for a business in which the number of full-time employees falls below a rolling average of 10,000 for the past 2 years (Sec. 1).

• Repeals the tax credit established by the provisions of this bill for a business in which the number of full-time employees falls below a rolling average of 9,000 for the past 2 years (Sec. 1).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that establishes a tax credit for certain aerospace and electronics businesses.

Highlights:

• Authorizes a business operating an aerospace, electronics, or defense contract with at least 10,000 full-time employees to be eligible for an income tax credit of $250 per employee, up to $2.5 million (Sec. 1). 

• Reduces the tax credit established by the provisions of this bill by a proportionate amount for a business in which the number of full-time employees falls below a rolling average of 10,000 for the past 2 years (Sec. 1).

• Repeals the tax credit established by the provisions of this bill for a business in which the number of full-time employees falls below a rolling average of 9,000 for the past 2 years (Sec. 1).