House approves new jobs tax credit

House approves new jobs tax credit

House approves new jobs tax credit

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by Associated Press

KTVB.COM

Posted on February 14, 2013 at 3:42 PM

Updated Monday, Nov 11 at 8:04 AM

BOISE -- The Idaho House approved legislation that gives businesses a new jobs tax credit.

Under the proposal passed Thursday on a 62-7 vote, companies that generate new jobs would receive a benefit for each new employee they hire. They would get a bonus $1,000 if they fill a new position with a veteran of the armed services.

Republican Rep. Mike Moyle, of Star, said depending on the number of jobs, the credit would cost Idaho approximately $10.4 million next year.

He said the measure gives Idaho an incentive to attract new companies. He said the state would also collect revenue in the short-term when new workers pay sales tax on goods they buy.

Legislators who opposed the bill said it's not the job of the state to pick winners and losers.

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