HIRE CREDIT Act

HR 10423 (HIRE CREDIT Act) expands the Work Opportunity Tax Credit to allow employers to claim a credit for hiring workers displaced by qualifying disasters. It defines "displaced disaster victims" as individuals who lost their homes and jobs in areas declared disaster zones by the President under the Stafford Act (since 2024), were unemployed due to the disaster, and are hired within one year of the disaster's incident period. Employers cannot claim the credit for workers employed full-time outside the disaster zone. The bill applies to hires beginning January 1, 2024, or for disasters with incident periods ending before enactment but meeting specific transition rules.