A bill to provide incentives for the employment of handicapped individuals.

[AI summary unavailable — showing source text] Provides a tax credit to the employer for a portion of qualified wages paid or incurred for services of handicapped individuals. States that the credit allowable is 50 percent of qualified wages during the first 12 months of employment and 25 percent during the next 12 months. Provides that the credit is only allowed for wages paid to individuals if such proof that the individual is handicapped as may be required of the Internal Revenue Service is provided by the employer. Sets forth the limitations on the amount of the credit permitted. Defines a handicapped individual as an individual employee who is suffering from a permanent disability or illness which is a hindrance or obstacle to employment. Permits the credit, if it exceeds tax due, to be carried back to offset taxes in the previous three years and forward to offset taxes in the next seven years. States that if the employment of the handicapped individual is terminated during the first two years, the employer must add to his current tax the credits for wages paid the employee for the current year and those previously taken. Allows a credit for qualified workmen's compensation payments paid or incurred under Federal or State …