MARVIN MANDEL, Governor                            2473

CHAPTER 904

(House Bill 1086)

AN ACT concerning

[[Revenue and Taxes - Summer Employment]]

Social Services Administration — Summer Employment,

Income Tax — Corporate Interest and Dividends

[[FOR the purpose of creating the Summer Scholastic
Employment Act; allowing a tax credit for employers
who hire certain students under certain provisions
for certain summer months; allowing the State
Comptroller to cancel the program if financially
adverse to the State; providing for termination of
the program; creating an additional tax to be paid
on personal income tax returns to fund the program;
exempting certain persons from this tax; and
generally relating to student employment in the

summer.]] FOR the purpose of creating the Summer

Scholastic Employment Act; allowing a rebate for
employers who hire certain students under certain
conditions; limiting the number of rebates allowed a
single employer; providing for the administration of
the Act; providing for the automatic termination of
the program; and generally relating to the program
of summer employment for students; including the
income of corporations subject to State income tax
nonbusiness interest and dividend income to the same
extent included under the federal income tax;
providing for the effective date of this inclusion;
providing for certain exceptions; providing for an
appropriation for the 1976-1977 fiscal year of the
funds necessary to fund the employment assistance
rebate program; and generally relating to an
employment assistance rebate program financed by the
taxation of nonbusiness and dividend income,

BY adding to

[[Article 81 - Revenue and Taxes

Section 292

Annotated Code of Maryland

(1975 Replacement Volume and 1975 Supplement)

Preamble

A recognized problem among youth in high school and
college is a lack of availability of summer jobs. The
few open jobs are filled long before the end of the
school year leaving the majority of young people
unemployed for the summer months. The following program
creates an incentive for businesses to employ students
during the summer; it allows a credit to the taxes paid
by the business for each student hired over and above the