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Committee clears technical fix to high‑wage jobs tax credit
Summary
The committee approved HB368, which clarifies the timing definition for threshold jobs within the high‑wage jobs tax credit so that the hiring test is measured on a rolling basis rather than by calendar year.
The House Commerce & Economic Development Committee voted to recommend House Bill 368, a technical amendment to the high‑wage jobs tax credit statute that clarifies how a “threshold job” is measured for credit eligibility.
Testimony from tax and economic‑development practitioners said the proposed change would align the threshold‑job timing test with the statute’s definition of high‑wage jobs by measuring a job’s qualifying weeks on a rolling basis from the date a position is filled, rather than locking eligibility to an ordinary calendar year. Everett Trujillo, a CPA with CliftonLarsonAllen who works on implementing the credit, told the committee that the clarification will reduce administrative uncertainty for employers and the Taxation and Revenue Department.
Jason Espinosa, representing the statewide economic development professional association, testified in support. Sponsors described the bill as a narrowly tailored correction to improve predictability for recruiting and accounting of qualifying hires.
The committee recorded a do‑pass recommendation; the clerk reported a final tally of 9 yes and 0 no on the motion to report the bill with a committee recommendation.
Discussion vs. action: the hearing was brief and limited to technical explanation and support testimony; committee approved the technical correction.
Next steps: HB368 will be reported to the full House with a committee recommendation for passage; the change is administrative and intended to harmonize statutory language to reduce confusion in credit administration.
