Bill Text: NY A11367 | 2017-2018 | General Assembly | Introduced

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Bill Title: Provides a tax credit for small businesses employing a person previously convicted of a crime other than a violent felony; provides a tax credit of one thousand five hundred dollars for each person employed.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2018-10-19 - referred to ways and means [A11367 Detail]

Download: New_York-2017-A11367-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          11367
                   IN ASSEMBLY
                                    October 19, 2018
                                       ___________
        Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Fernandez)
          -- 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
          other than a violent felony
          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 53 to read as follows:
     3    53. 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 other
     6  than a violent felony hired during a taxable year and retained for full-
     7  time employment by such business for at least one year. Such tax  credit
     8  shall  be applicable only to businesses employing fifty or fewer employ-
     9  ees.
    10    § 2. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
    11  of  the  tax  law  is  amended  by adding a new clause (xliv) to read as
    12  follows:
    13  (xliv) Rehabilitation opportunity    Amount of credit under subdivision
    14  tax credit under subsection (jjj)    fifty-three of section two hundred
    15                                       ten-B
    16    § 3. Section 606 of the tax law is amended by adding a new  subsection
    17  (jjj) to read as follows:
    18    (jjj)  Rehabilitation  opportunity  tax  credit.  A  taxpayer shall be
    19  allowed a credit, against the tax imposed by this article, of one  thou-
    20  sand  five  hundred  dollars  for  each person previously convicted of a
    21  crime other than a violent  felony  hired  during  a  taxable  year  and
    22  retained  for  full-time  employment  by  such business for at least one
    23  year. Such tax credit shall be applicable only to  businesses  employing
    24  fifty or fewer employees.
    25    § 4. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD16552-02-8