Hire One Act passes

The Idaho Legislature passed a jobs-incentive bill April 7, the final day of the legislative session.

The Hire One Act provides tax credits to employers who hire. It sets three levels of qualification for refundable income tax credits based on how the employer is rated by the state Department of Labor for payment of unemployment insurance taxes, House Bill 297′s purpose statement says. Positive-rate employers adding a worker would get a refundable tax credit of 6 percent of the hired employee’s gross annual wages. The credit is 4 percent for standard-rated employers and 2 percent for deficit-rated employers.

The legislation also sets a $15 minimum hourly wage in counties with less than 10 percent unemployment and a $12 minimum in counties with 10 percent or higher unemployment. It is slated to sunset at the end of calendar 2013.

“This is a great victory for businesses across Idaho,” Boise Metro Chamber of Commerce CEO Bill Connors said. “For those medium-sized or small employers thinking about adding one or two people, this is just a great encouragement to do that.”

Business operators wondering if they should add an employee or employees could take advantage of the law and move ahead with hiring, he said.

The Boise Metro Chamber plans to follow up by hosting sessions on how businesses can implement the legislation, Connors said. The bill has protections, such as a longevity requirement.

The Idaho Department of Labor and state Division of Financial Management report the Hire One Act could draw $7.9 million a year from the state general fund while helping generate an estimated $25.3 million in state tax revenue, the bill’s fiscal note says. The legislation aims to advance Gov. C.L. “Butch” Otter’s efforts to grow state Gross Domestic Product.

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