January 29, 2010

The Honorable Ulysses Currie

Budget and Taxation Committee

3 West, Miller Senate Building

Annapolis, MD 21401

Re: SB106 – Labor and Employment - Job Creation and Recovery Tax Credit – Support

Dear Senator Currie:

SB106 would provide a credit against the State income tax for qualified employers employing specified individuals in qualified positions; provide for certification by the Secretary of Labor, Licensing, and Regulation of qualified employers eligible for the credit and the maximum credit for which a qualified employer is eligible. In addition it would limit the credit to $250,000 for each qualified employer, and limit the aggregate credit that may be approved by the Secretary to $20,000,000, to be allocated on a first-come, first-served basis.

The Legislative Committee of the Carroll County Chamber of Commerce supports this bill. The tax credit would provide an incentive to qualified employers to hire during these difficult economic times, which would in turn reduce the Unemployment Insurance burden on employers.

We therefore ask that your committee give this bill a favorable report. 

Sincerely,

Richard Haddad

President

CC: Senator Larry E. Haines