(1) For taxable years beginning or deemed to begin on or after January 1, 2025, under the Internal Revenue Code of 1986, as amended, any employer that employs an individual receiving services pursuant to a medicaid home and community-based services waiver shall be eligible to receive a credit against the income tax imposed by the Nebraska Revenue Act of 1967.

(2) The tax credit shall be in an amount equal to one thousand dollars multiplied by the number of employees who:

(a) Are receiving services pursuant to a medicaid home and community-based services waiver;

(b) Are employed by such employer for at least six months during the taxable year; and

(c) Work at least two hundred hours for such employer during the taxable year.

(3) The tax credit provided in this section shall be a nonrefundable tax credit.

(4) An employer shall apply for the credit provided in this section by submitting an application to the department on a form prescribed by the department. Subject to subsection (5) of this section, if the department determines that the employer qualifies for tax credits under this section, the department shall approve the application and certify the amount of credits approved to the employer.

(5) The department shall consider applications in the order in which they are received and may approve tax credits under this section in any year until the aggregate limit allowed under section 77-3160 has been reached.

(6) An employer shall claim any tax credits granted under this section by attaching the tax credit certification received from the department under subsection (4) of this section to the employer's tax return.