Section 8903-J - Credit for employer matching contributions to tuition savings accounts and able accounts.(a) Tax credit.--For taxable years beginning after December 31, 2024, and ending before January 1, 2030, an employer that makes a matching contribution to an account owned by an employee under this article or an able account may claim a tax credit against the employer's State tax liability.(b)Amount of tax credit.--The amount of the tax credit under subsection (a) shall be equal to 25% of the employer's aggregate matching contributions made to accounts owned by employees during the tax year.(c)Tax credit limit for employers.--The total amount of matching contributions to accounts owned by employees for which an employer may claim a tax credit shall be no more than $500 per employee during the tax year.(d) Proof of matching contribution.--In order to receive the tax credit, an employer shall provide the department with proof that the employer has made qualifying matching contributions to employee-owned accounts under this article at the time of filing the employer's tax return.(e) Proof of employee contribution.--In a manner prescribed by the employer, an employee shall provide to the employer evidence of the total amount deposited into the employee's account during the previous tax year.Added by P.L. (number not assigned at time of publication) 2024 No. 56,§ 23, eff. 7/11/2024.