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Young Professionals Propose Legislation
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Michelle Porra,
Program Manager at the Saginaw County Chamber of Commerce
Saginaw, Michigan - The mission of the Saginaw Valley Young Professionals Network (YPN) is to support the attraction and retention of young talent to the Saginaw Valley and Great Lakes Bay Region while developing the next generation of leaders. As part of that mission, the leadership of the YPN approached State Representative Ken Horn (R-94) to suggest legislation that would help attract and retain young talent through an increased number of paid internship opportunities.
"Paid internship opportunities provide experience and connections for students while also providing affordable employment for organizations," says Michelle Porra, program manager at the Saginaw County Chamber of Commerce. "When companies provide paid internship opportunities, not only is that money is circulated back into our community immediately, but the interns are also more likely to gain employment in the state and benefit our economy long-term."
Representative Ken Horn agreed to sponsor the legislation which became House Bill 5593 on May 3, 2012. The bill proposes a tax credit for Michigan businesses that employ paid interns. Guidelines are set within the bill to outline necessary qualifications to ensure that internship programs benefit both the intern and the organization.
Under this bill interns would be required to be enrolled at a state institution of higher education and contribute a minimum number of hours during the internship. In turn, the interns must be paid at or above minimum wage and participate in an internship program that provides training and experience in their field of study.
The tax credit provided to the sponsoring organization would be in the amount of 40% of each intern's wages or $600 per intern, whichever is less. For organizations that employ over 3 interns per year, an additional $75 would be credited for each qualified intern.
"The tax credit provides an incentive for businesses in to create and sustain quality paid internship programs," says Porra. "And services such as Intern in Michigan and the Michigan Internship Initiative, along with Governor Snyder's support of internship programs, provide a web of support for the legislation to be successful."
HB 5593 was referred to the Tax Policy Committee where it will await a hearing.
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O. J. Cunningham |
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