Panel Nixes Tax Credits for Hiring Va. Graduates
A $2,500 credit for small businesses employing public university grads is on hold after subcommittee members ask for legislation that would include private colleges.
By Michael Shuster, Capital News Service A bill that would have given Virginia small businesses a $2,500 tax credit for hiring the state's public university graduates was tabled by House subcommittee members who said the offer should also apply to graduates of Virginia's private institutions. House Bill 1303, introduced by Del. Charniele Herring (D-Alexandria), would have created an incentive system for small businesses that hired people holding an associate’s or bachelor’s degree from a public institution of higher education in Virginia, giving a $2,500 corporate income tax credit for each new full-time position created and filled after Jan. 1 of this year. Businesses could have claimed the credit after the graduate had been employed for …
