A bill to amend the Internal Revenue Code of 1954 to provide for a credit against tax with respect to the employment of certain unemployed individuals.
Targeted Jobs Tax Credit Amendments Act of 1983 - Amends the Internal Revenue Code to include as members of a targeted group for purposes of the targeted jobs tax credit individuals who: (1) have been unemployed since January 1, 1982; or (2) have exhausted all rights to regular unemployment compensation.
Increases the amount of the first year wages taken into account from 50 percent to: (1) 65 percent in the case of an employer in an area where the employment rate exceeds the average national rate; and (2) 75 percent in the case of a small business owner.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Finance requested executive comment from OMB, Treasury Department.
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