Description of Tax Bills (S. 788, S. 983, And S. 1781) : Scheduled for a Hearing Before the Subcommittee On Taxation And Debt Management of the Senate Committee On Finance On November 13, 1987 Jcx-20-87

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^^l alsowould provide that wages would not be thPv nihl ^^^^"'^t f°^ increased employment expenditures if credi? H^'^^^^l^^^f'^^ ^°' ^^^ economically disadvantaged credit, described below.
-11- The second element of the credit computation would be the economically disadvantaged credit amount which would represent the sum of the applicable percentage of qualified wages paid to each qualified economically disadvantaged individual. The applicable percentage for the first 36 months of employment wo
...uld be 50 percent. Between the 36th and 84th months of employment, the percentage would be gradually decreased to zero.
The term "qualified economically disadvantaged individual" would be defined as an individual who possessed each of four qualifications. First, the individual would have to be a qualified employee. Second, the individual would have to be hired by an employer in a currently designated area and would have to perform services for that employer in that designated area. Third, the individual would have to be certified as either (1) an economically disadvantaged individual, (2) an eligible work incentive employee, or (3) a general assistance recipient.


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