BOSTON—Employers in Massachusetts offering wellness programs to their workers could be eligible for up to $10,000 in state tax credits under provisions of a larger health care payment reform measure awaiting final approval from Massachusetts Gov. Deval Patrick.

The bill, S. 2004, which Massachusetts approved Tuesday, allows businesses, professional partnerships, sole proprietorships and other entities to deduct 25% of their annual wellness costs from their state tax bills, up to $10,000 per year.

According to the bill, qualification for the tax credit will be determined based on employers' compliance with existing regulations for state-sponsored wellness programs.

Shawn Nowicki, policy director for the New York-based Northeast Business Group on Health, heralded the tax credits as a potential boon for Massachusetts employers, particularly smaller businesses that have hesitated in the past to explore wellness programs due to cost considerations.

“It could be a seminal moment for small businesses,” Mr. Nowicki said. “Wellness programs have gotten a lot of attention in the last few years from employers, but small businesses have been lagging a bit in terms of their implementation. This tax credit could enable a lot of those businesses to at least begin experimenting with worksite wellness programs, so we were very happy to see it included in the bill.”

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The measure also would establish a prevention and wellness trust fund, to be administered by the state health department. According to the bill, the fund would be used primarily to support “evidence-based community preventive health activities.” The trust fund would be dispensed through a competitive grant process open to municipalities, community-based organizations, health care providers, regional-planning agencies, and health plans.

The wellness tax credit and trust fund were among a bevy of provisions aimed at reining in the cost of health care in Massachusetts. If approved, the measure would set a statewide cost-growth cap for the health care industry level with the potential growth of the gross state product from 2013 to 2017, and after 2023. From 2018 to 2022, the cap would be lowered to 0.5% below GSP.

Adhering to the cap, state officials said on Tuesday, would generate an estimated $200 billion in savings for the health care industry through the next 15 years, leading to lower health care costs for Massachusetts businesses and residents.

“Health care costs are a burden on businesses and many individuals and families, despite recent successes in bringing down premiums in some cases,” state Senate President Theresa Murray, D-Plymouth, said in a statement on Tuesday. “This bill will reel in health care costs, removing a major roadblock to long-term job growth and allowing essential investments in education and transportation without harming our number one industry or patient care.”

Gov. Patrick is expected to sign the measure.