The City of Amherst, by ordinance, may grant a refundable or nonrefundable credit against its tax on income to a taxpayer to foster job creation in the City of Amherst. If a credit is granted under this section, it shall be measured as a percentage of the new income tax revenue the City of Amherst derives from new employees of the taxpayer and shall be for a term not exceeding fifteen years. Before the City of Amherst passes an ordinance granting a credit, the City of Amherst and the taxpayer shall enter into an agreement specifying all the conditions of the credit.
(Ord. 24-09. Passed 2-26-24.)