Portland City Council to Vote on Business License Tax Credit

Portland council members will vote today, Wednesday, June 29, 2011, on an ordinance that would offer business license tax credits to businesses that employ teenagers in a program aimed at allowing them to apply career-related classroom learning, at local businesses.

The first portion of the credit is directed to employers who hire teenagers as part of the Youth Career Readiness Credit Program. To qualify for the $500 tax break, employers must be certified to provide Career Awareness, Career Exploration or Career Preparation activities programs. Costs for these programs run at a minimum of $2,500 for business owners. The city will issue a maximum of 75 credits in all at a total cost to the city of $37,500 as detailed by Beth Slovic in Oregon Live.

The second aspect of the ordinance, called the Foster Youth Employment Opportunity Credit, entitles employers who hire foster youths for a minimum of 200 hours in a six months period, to a $500 tax break. Employers can claim the credit for each teenager hired; but the city will only issue a maximum of 25 credits at a first come, first served basis.

The ordinance proposes running these programs for the 2011 and 2012 calendar years. Costs for these programs will reduce business license profits to the city by $50,000 annually.

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