HARRY HUGHES, Governor

2633

(1) FOR THE TAXABLE YEAR THAT COMMENCES
IMMEDIATELY FOLLOWING EITHER THE DESIGNATION OF THE
ENTERPRISE ZONE OR THE LOCATION OF THE BUSINESS ENTITY IN
THE ENTERPRISE ZONE, WHICHEVER IS LATER:

(I)  A CREDIT EQUAL TO THE AMOUNT OF

QUALIFIED AN AMOUNT NOT EXCEEDING $1,500 OF THE WAGES PAID
TO EACH QUALIFIED EMPLOYEE WHO:

1.  PRIOR TO EMPLOYMENT BY THE
BUSINESS ENTITY, WAS ELIGIBLE TO PARTICIPATE IN TRAINING
ACTIVITIES FOR THE ECONOMICALLY DISADVANTAGED UNDER TITLE
II, PART B OF THE FEDERAL COMPREHENSIVE EMPLOYMENT AND
TRAINING ACT OR ITS SUCCESSOR, PROVIDED THAT, IF SUCH
QUALIFIED EMPLOYEE WAS ELIGIBLE TO RECEIVE SUCH TRAINING BY
REASON OF UNEMPLOYMENT, SUCH UNEMPLOYMENT SHALL HAVE
CONTINUED FOR AT LEAST 30 CONSECUTIVE DAYS PRIOR TO
EMPLOYMENT BY THE BUSINESS ENTITY, OR IN THE ABSENCE OF A
FEDERAL ACT, MEETS THE CRITERIA THAT THE SECRETARY OF
ECONOMIC AND COMMUNITY DEVELOPMENT SHALL ADOPT TO IDENTIFY
THE ECONOMICALLY DISADVANTAGED; AND

2.  WAS HIRED BY THE BUSINESS ENTITY
SUBSEQUENT TO THE DATE ON WHICH THE ENTERPRISE ZONE WAS
DESIGNATED OR THE DATE ON WHICH THE BUSINESS ENTITY BECAME
LOCATED IN THE ENTERPRISE ZONE, WHICHEVER IS LATER; AND

3. WAS NOT HIRED TO REPLACE AN
INDIVIDUAL WHO WAS EMPLOYED BY THE BUSINESS ENTITY IN THAT
OR ANY PREVIOUS TAXABLE YEAR; AND

(II)  A CREDIT EQUAL TO THE AMOUNT OF
QUALIFIED AN AMOUNT NOT EXCEEDING $500 OF THE WAGES PAID TO
EACH QUALIFIED EMPLOYEE NOT MEETING THE CRITERION OF
SUBPARAGRAPH (I)1. ABOVE, PROVIDED THAT, WITH RESPECT TO ANY
BUSINESS ENTITY LOCATED IN THE ENTERPRISE ZONE PRIOR TO THE
DATE ON WHICH THE ENTERPRISE ZONE WAS DESIGNATED, SUCH

QUALIFIED EMPLOYEE WAS HIRED BY THE BUSINESS ENTITY

SUBSEQUENT TO THE DATE ON WHICH THE ENTERPRISE ZONE WAS
DESIGNATED AND WAS NOT HIRED FOR THE PURPOSE OF REPLACING AN
INDIVIDUAL WHO WAS EMPLOYED BY THE BUSINESS ENTITY ON OR
BEFORE THE DATE ON WHICH THE ENTERPRISE ZONE WAS DESIGNATED.
SUBPARAGRAPH (I) 1. WHO:

1. WAS HIRED BY THE BUSINESS ENTITY
AFTER THE DATE ON WHICH THE ENTERPRISE ZONE WAS DESIGNATED
OR THE DATE ON WHICH THE BUSINESS ENTITY BECAME LOCATED IN
THE ENTERPRISE ZONE, WHICHEVER IS LATER; AND

2. WAS NOT HIRED TO REPLACE AN
INDIVIDUAL WHO WAS EMPLOYED BY THE BUSINESS ENTITY IN THAT
OR ANY PREVIOUS TAXABLE YEAR.

(2) FOR EACH TAXABLE YEAR SUCCEEDING THE TAXABLE
YEAR DESCRIBED IN PARAGRAPH (1) ABOVE SO LONG AS THE AREA IS
DESIGNATED AN ENTERPRISE ZONE: