Bill Text: NY A04951 | 2023-2024 | General Assembly | Introduced

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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 15-2)

Status: (Introduced) 2024-01-03 - referred to ways and means [A04951 Detail]

Download: New_York-2023-A04951-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          4951

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    February 27, 2023
                                       ___________

        Introduced  by  M.  of A. KELLES, DARLING, REYES, SMULLEN, GLICK, SIMON,
          AUBRY, McDONOUGH, DAVILA -- read once and referred to the Committee on
          Ways and Means

        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 59 to read as follows:
     3    59. 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 (l) to read as follows:

    11  (l) Rehabilitation opportunity       Amount of credit under subdivision
    12  tax credit under subsection (ooo)    fifty-nine of section two hundred
    13                                       ten-B

    14    § 3. Section 606 of the tax law is amended by adding a new  subsection
    15  (ooo) to read as follows:
    16    (ooo)  Rehabilitation  opportunity  tax  credit.  A  taxpayer shall be
    17  allowed a credit, against the tax imposed by this article, of one  thou-
    18  sand  five  hundred  dollars  for  each person previously convicted of a
    19  crime hired during a taxable year and retained for full-time  employment
    20  by  such  business  for  at  least  six months. Such tax credit shall be
    21  applicable only to businesses employing fifty or fewer employees.
    22    § 4. This act shall take effect immediately.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09672-01-3