BIPARTISANSHIP ALERT: Small Business Relief Tax Credit – Expansion Maryland State Senate Unanimously Votes To Encourage Small Businesses To Extend Paid Parental Leave Benefits

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Governor Hogan’s Proposed Legislation Would Have Expanded The Small Business Relief Tax Credit From $5,000,000 To $10,000,000; Provide Small Businesses With $500 In Tax Relief For Each Qualified Employee Receiving Paid Parental Leave Or Paid Sick Leave; $1,000 In Tax Relief For Each Qualified Employee Receiving Both Paid Parental And Paid Sick Leave. Proposed Legislation Would Have Allowed Eligible Small Businesses To Receive A Total Of Up To $14,000 In Tax Relief. “For each taxable year, the credit allowed under this section may not exceed the lesser of: For an employer that provides either a qualified employer parental leave benefit or a qualified employer sick and safe leave benefit, an amount that equals $500 for each qualified employee; For an employer that provides both a qualified employer parental benefit and a qualified employer sick and safe leave benefit, an amount that equals $1,000 for each qualified employee; or an amount that equals the total amount of qualified employer parental leave benefits and qualified employer sick and safe leave benefits accrued by all qualified employees of the small business… For any taxable year the total amount of credit certificates issued by the Department under this subsection may not exceed [$5,000,000] $10,000,000.” (“Senate Bill 89,” Maryland General Assembly, 3/16/19)

Members Of Maryland Senate Voted In Support Of Amended Version Of Governor Hogan’s Proposal

Legislation Expands The Small Business Relief Tax Credit To Provide Tax Relief To Small Businesses That Provide Paid Parental Leave; Funding For The Tax Credit Remains At $5,000,000. “For each taxable year, the credit allowed under this section may not exceed the lesser of: for an employer that provides either a qualified employer parental leave benefit or a qualified employer sick and safe leave benefit, an amount that equals $500 for each qualified employee; for an employer that provides both a qualified employer parental leave benefit and a qualified employer sick and safe leave benefit, and amount that equals $1,000 for each qualified employee; or an amount that equals the total amount of qualified employer parental leave benefits and qualified employer sick and safe leave benefits accrued by all qualified employees of the small business…For any taxable year, the total amount of credit certificates issued by the Department under this subsection may not exceed $5,000,000.0 (“Senate Bill 89,” Maryland General Assembly, 3/16/19)  

The Maryland Senate Voted Unanimously To Approve SB 89 On Third Reader By A Vote Of 46-0. (“Senate Bill 89,” Maryland General Assembly, 3/19/19)

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