1. (a) An eligible taxpayer that, after December 31, 2006, makes health insurance available to the eligible taxpayer's employees and their dependents through at least one (1) health benefit plan is entitled to a credit against the taxpayer's state tax liability for the first two (2) taxable years in which the taxpayer makes the health benefit plan available if the following requirements are met:

   1. (1) An employee's participation in the health benefit plan is at the employee's election.
   2. (2) If an employee chooses to participate in the health benefit plan, the employee may pay the employee's share of the cost of the plan using a wage assignment authorized under IC 22-2-6-2 .

2. (b) The credit allowed in each of the first two (2) taxable years described in subsection (a) equals the lesser of:

   1. (1) two thousand five hundred dollars ($2,500); or
   2. (2) fifty dollars ($50) multiplied by the number of employees enrolled in the health benefit plan during the taxable year.

As added by P.L.218-2007, SEC.5.