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.
STATE OF NEW YORK
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5673
2023-2024 Regular Sessions
IN SENATE
March 13, 2023
___________
Introduced by Sen. FERNANDEZ -- read twice and ordered printed, and when
printed to be committed to the Committee on Budget and Revenue
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 opportunityAmount 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
