The federal government incentive program is great, and there is even better news from Maryland. On Friday, the Governor leaped onto the still-hot-off-the-presses bill, and signed into law a program providing tax credits of up to $5,000 to employers adding the unemployed to their payrolls. The idea is to jumpstart the process of moving people into jobs that employers were not quite sure they were ready to fill.
The eligible employee must have been receiving unemployment benefits, or exhausted them in the last year, and the position filled must be newly created or vacant for six months or more. People who were denied unemployment benefits therefore do not qualify for the subsidy. Hard luck for them, since they have been without any compensation, but this incentive is designed to trade the burden of unemployment benefits for a tax break. A few other restrictions (designed to avoid loophole jumping) are detailed in the Department of Labor, Licensing and Regulation’s flyer.