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) 2019-05-09 - print number 2757a [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
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