Bill Text: NY A02757 | 2019-2020 | General Assembly | Amended
Bill Title: Provides a tax credit for small businesses employing a person previously convicted of a crime; provides a tax credit of one thousand five hundred dollars for each person employed.
Spectrum: Moderate Partisan Bill (Democrat 7-1)
Status: (Introduced - Dead) 2020-01-08 - referred to ways and means [A02757 Detail]
Download: New_York-2019-A02757-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 2757--A 2019-2020 Regular Sessions IN ASSEMBLY January 25, 2019 ___________ Introduced by M. of A. FERNANDEZ, REYES, GRIFFIN, D'URSO, ROMEO, ARROYO, RAYNOR, SMULLEN -- read once and referred to the Committee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to providing a tax credit for small businesses employing a person previously convicted of a crime The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 210-B of the tax law is amended by adding a new 2 subdivision 54 to read as follows: 3 54. Rehabilitation opportunity tax credit. A taxpayer shall be allowed 4 a credit, against the tax imposed by this article, of one thousand five 5 hundred dollars for each person previously convicted of a crime hired 6 during a taxable year and retained for full-time employment by such 7 business for at least six months. Such tax credit shall be applicable 8 only to businesses employing fifty or fewer employees. 9 § 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 10 of the tax law is amended by adding a new clause (xlv) to read as 11 follows: 12 (xlv) Rehabilitation opportunity Amount of credit under subdivision 13 tax credit under subsection (kkk) fifty-four of section two hundred 14 ten-B 15 § 3. Section 606 of the tax law is amended by adding a new subsection 16 (kkk) to read as follows: 17 (kkk) Rehabilitation opportunity tax credit. A taxpayer shall be 18 allowed a credit, against the tax imposed by this article, of one thou- 19 sand five hundred dollars for each person previously convicted of a 20 crime hired during a taxable year and retained for full-time employment 21 by such business for at least six months. Such tax credit shall be 22 applicable only to businesses employing fifty or fewer employees. 23 § 4. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD03983-03-9