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First hearing held for small-business ICRA tax credit to help employers offer health coverage
Summary
At a first hearing, supporters urged HB 1110 (the Georgia Small Business Resiliency Act / ICRA bill) to offer a $600-per-employee tax credit (with declining amounts in years four and five), capped at $10 million annually and subject to a roughly five-year sunset; proponents said the credit would help small employers recruit and retain workers and expand access to insurance.
Sponsor presented HB 1110 as a targeted tax credit to support small employers that provide benefits, proposing a $600-per-covered-employee credit with reduced credits in the fourth and fifth years and an aggregate cap of $10,000,000. The sponsor described the program as a way to "reward" small businesses that offer competitive benefits and noted the program sunsets after about five years.
Witnesses supporting the bill included…
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