S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3505--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 29, 2021
                                ___________
 
 Introduced  by  Sens.  BAILEY,  MYRIE, PERSAUD -- read twice and ordered
   printed, and when printed to be committed to the Committee  on  Budget
   and  Revenue  -- committee discharged, bill amended, ordered reprinted
   as amended and recommitted to said committee
 
 AN ACT to amend the tax law, in relation to a credit for  employment  of
   persons on probation or parole
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The tax law is amended by adding a  new  section  187-t  to
 read as follows:
   §  187-T.  CREDIT FOR EMPLOYMENT OF PERSONS ON PROBATION OR PAROLE. 1.
 ALLOWANCE OF CREDIT. A  TAXPAYER  SHALL  BE  ALLOWED  A  CREDIT,  TO  BE
 COMPUTED  AS  HEREINAFTER  PROVIDED,  AGAINST  THE TAXES IMPOSED BY THIS
 ARTICLE, OTHER THAN THE TAXES IMPOSED BY SECTIONS  ONE  HUNDRED  EIGHTY-
 SIX-A AND ONE HUNDRED EIGHTY-SIX-E OF THIS ARTICLE, FOR EMPLOYING WITHIN
 THE  STATE A QUALIFIED EMPLOYEE. PROVIDED, HOWEVER, THE AMOUNT OF CREDIT
 ALLOWED BY THIS SECTION AGAINST THE TAX IMPOSED BY SECTION  ONE  HUNDRED
 EIGHTY-FOUR  OF  THIS ARTICLE SHALL BE THE EXCESS OF THE CREDIT COMPUTED
 UNDER THIS SECTION OVER THE AMOUNT OF CREDIT  ALLOWED  BY  THIS  SECTION
 AGAINST  THE  TAX  IMPOSED  BY  SECTION ONE HUNDRED EIGHTY-THREE OF THIS
 ARTICLE.
   2. QUALIFIED EMPLOYEE. A QUALIFIED EMPLOYEE IS AN INDIVIDUAL WHO:
   (A) HAS BEEN CONVICTED OF A FELONY UNDER ANY  STATUTE  OF  THE  UNITED
 STATES OR ANY STATE;
   (B) IS ON PROBATION OR PAROLE; AND
   (C)  HAS  WORKED ON A FULL-TIME BASIS FOR THE EMPLOYER WHO IS CLAIMING
 THE CREDIT FOR AT LEAST ONE HUNDRED EIGHTY DAYS OR FOUR HUNDRED HOURS.
   3. AMOUNT OF CREDIT. EXCEPT AS PROVIDED IN SUBDIVISION  FOUR  OF  THIS
 SECTION,  THE  AMOUNT  OF CREDIT UNDER THIS SECTION SHALL BE THIRTY-FIVE
 PERCENT OF THE FIRST SIX THOUSAND DOLLARS IN QUALIFIED FIRST-YEAR  WAGES
 EARNED  BY  EACH  QUALIFIED EMPLOYEE. "QUALIFIED FIRST-YEAR WAGES" MEANS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD07553-03-1

 S. 3505--A                          2
 
 WAGES PAID OR INCURRED BY THE TAXPAYER DURING THE TAXABLE YEAR TO QUALI-
 FIED EMPLOYEES WHICH ARE ATTRIBUTABLE, WITH RESPECT TO ANY SUCH  EMPLOY-
 EE,  TO  SERVICES RENDERED DURING THE ONE-YEAR PERIOD BEGINNING WITH THE
 DAY THE EMPLOYEE BEGINS WORK FOR THE TAXPAYER.
   4.  CREDIT  WHERE  FEDERAL  WORK  OPPORTUNITY TAX CREDIT APPLIES. WITH
 RESPECT TO ANY QUALIFIED EMPLOYEE WHOSE QUALIFIED FIRST-YEAR WAGES UNDER
 SUBDIVISION THREE OF THIS SECTION ALSO CONSTITUTE  QUALIFIED  FIRST-YEAR
 WAGES  FOR  PURPOSES  OF  THE WORK OPPORTUNITY TAX CREDIT FOR VOCATIONAL
 REHABILITATION REFERRALS UNDER SECTION FIFTY-ONE OF THE INTERNAL REVENUE
 CODE, THE AMOUNT OF CREDIT  UNDER  THIS  SECTION  SHALL  BE  THIRTY-FIVE
 PERCENT OF THE FIRST SIX THOUSAND DOLLARS IN QUALIFIED SECOND-YEAR WAGES
 EARNED  BY EACH SUCH EMPLOYEE. "QUALIFIED SECOND-YEAR WAGES" MEANS WAGES
 PAID OR INCURRED BY THE TAXPAYER DURING THE TAXABLE  YEAR  TO  QUALIFIED
 EMPLOYEES  WHICH ARE ATTRIBUTABLE, WITH RESPECT TO ANY SUCH EMPLOYEE, TO
 SERVICES RENDERED DURING THE ONE-YEAR PERIOD BEGINNING  ONE  YEAR  AFTER
 THE EMPLOYEE BEGINS WORK FOR THE TAXPAYER.
   5.  CARRYOVER.  IN  NO  EVENT  SHALL  THE CREDIT UNDER THIS SECTION BE
 ALLOWED IN AN AMOUNT WHICH WILL REDUCE THE TAX PAYABLE TO LESS THAN  THE
 APPLICABLE MINIMUM TAX FIXED BY SECTION ONE HUNDRED EIGHTY-THREE OF THIS
 ARTICLE.  IF, HOWEVER, THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SECTION
 FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF CRED-
 IT NOT DEDUCTIBLE IN SUCH TAXABLE  YEAR  MAY  BE  CARRIED  OVER  TO  THE
 FOLLOWING  YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR
 SUCH YEAR OR YEARS.
   6.  COORDINATION  WITH  FEDERAL  WORK  OPPORTUNITY  TAX  CREDIT.   THE
 PROVISIONS  OF  SECTIONS FIFTY-ONE AND FIFTY-TWO OF THE INTERNAL REVENUE
 CODE, AS SUCH SECTIONS APPLIED ON OCTOBER FIRST, NINETEEN HUNDRED  NINE-
 TY-SIX,  THAT  APPLY  TO  THE WORK OPPORTUNITY TAX CREDIT FOR VOCATIONAL
 REHABILITATION REFERRALS SHALL APPLY TO THE CREDIT UNDER THIS SECTION TO
 THE  EXTENT  THAT  SUCH  SECTIONS  ARE  CONSISTENT  WITH  THE   SPECIFIC
 PROVISIONS OF THIS SECTION, PROVIDED THAT IN THE EVENT OF A CONFLICT THE
 PROVISIONS OF THIS SECTION SHALL CONTROL.
   §  2. Section 210-B of the tax law is amended by adding a new subdivi-
 sion 58 to read as follows:
   58. CREDIT FOR EMPLOYMENT OF  PERSONS  ON  PROBATION  OR  PAROLE.  (A)
 ALLOWANCE  OF  CREDIT.  A  TAXPAYER  SHALL  BE  ALLOWED  A CREDIT, TO BE
 COMPUTED AS HEREINAFTER PROVIDED, AGAINST  THE  TAXES  IMPOSED  BY  THIS
 ARTICLE, FOR EMPLOYING WITHIN THE STATE A QUALIFIED EMPLOYEE.
   (B)  QUALIFIED  EMPLOYEE.  A  QUALIFIED EMPLOYEE IS AN INDIVIDUAL WHO:
 (I) HAS BEEN CONVICTED OF A FELONY  UNDER  ANY  STATUTE  OF  THE  UNITED
 STATES  OR  ANY  STATE;   (II) IS ON PROBATION OR PAROLE; AND  (III) HAS
 WORKED ON A FULL-TIME BASIS FOR THE EMPLOYER WHO IS CLAIMING  THE CREDIT
 FOR AT LEAST ONE HUNDRED EIGHTY DAYS OR FOUR HUNDRED HOURS.
   (C) AMOUNT OF CREDIT. EXCEPT AS PROVIDED  IN  PARAGRAPH  (D)  OF  THIS
 SUBDIVISION,  THE AMOUNT OF CREDIT UNDER THIS SUBDIVISION SHALL BE THIR-
 TY-FIVE  PERCENT OF THE FIRST SIX THOUSAND DOLLARS IN  QUALIFIED  FIRST-
 YEAR  WAGES    EARNED  BY EACH QUALIFIED EMPLOYEE. "QUALIFIED FIRST-YEAR
 WAGES" MEANS  WAGES PAID OR INCURRED BY THE TAXPAYER DURING THE  TAXABLE
 YEAR  TO QUALIFIED EMPLOYEES WHICH ARE ATTRIBUTABLE, WITH RESPECT TO ANY
 SUCH EMPLOYEE, TO SERVICES RENDERED DURING THE ONE-YEAR PERIOD BEGINNING
 WITH THE  DAY THE EMPLOYEE BEGINS WORK FOR THE TAXPAYER.
   (D) CREDIT WHERE FEDERAL WORK OPPORTUNITY  TAX  CREDIT  APPLIES.  WITH
 RESPECT TO ANY QUALIFIED EMPLOYEE WHOSE QUALIFIED FIRST-YEAR WAGES UNDER
 PARAGRAPH  (C)  OF THIS SUBDIVISION ALSO CONSTITUTE QUALIFIED FIRST-YEAR
 WAGES FOR PURPOSES OF THE WORK OPPORTUNITY  TAX  CREDIT  FOR  VOCATIONAL
 REHABILITATION REFERRALS UNDER SECTION FIFTY-ONE OF THE INTERNAL REVENUE

 S. 3505--A                          3

 CODE,  THE  AMOUNT OF CREDIT UNDER THIS SUBDIVISION SHALL BE THIRTY-FIVE
 PERCENT OF THE FIRST SIX THOUSAND DOLLARS IN QUALIFIED SECOND-YEAR WAGES
 EARNED BY EACH SUCH EMPLOYEE. "QUALIFIED SECOND-YEAR WAGES" MEANS  WAGES
 PAID  OR  INCURRED  BY THE TAXPAYER DURING THE TAXABLE YEAR TO QUALIFIED
 EMPLOYEES WHICH ARE ATTRIBUTABLE, WITH RESPECT TO ANY SUCH EMPLOYEE,  TO
 SERVICES  RENDERED  DURING  THE ONE-YEAR PERIOD BEGINNING ONE YEAR AFTER
 THE EMPLOYEE BEGINS WORK FOR THE TAXPAYER.
   (E) CARRYOVER. EXCEPT AS OTHERWISE PROVIDED  IN  THIS  PARAGRAPH,  THE
 CREDIT  ALLOWED    UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR SHALL NOT
 REDUCE THE TAX DUE   FOR SUCH YEAR TO LESS THAN THE FIXED DOLLAR MINIMUM
 AMOUNT PRESCRIBED IN   PARAGRAPH (D) OF SUBDIVISION ONE OF SECTION   TWO
 HUNDRED    TEN   OF   THIS    ARTICLE. IF, HOWEVER, THE AMOUNT OF CREDIT
 ALLOWABLE UNDER THIS SECTION  FOR ANY TAXABLE YEAR REDUCES  THE  TAX  TO
 SUCH  AMOUNT,  ANY  AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR
 MAY BE CARRIED OVER TO THE  FOLLOWING YEAR OR YEARS AND MAY BE  DEDUCTED
 FROM THE TAXPAYER'S TAX FOR  SUCH YEAR OR YEARS.
   (F)  COORDINATION  WITH  FEDERAL  WORK  OPPORTUNITY  TAX  CREDIT.  THE
 PROVISIONS OF SECTIONS FIFTY-ONE AND FIFTY-TWO OF THE  INTERNAL  REVENUE
 CODE,  AS SUCH SECTIONS APPLIED ON OCTOBER FIRST, NINETEEN HUNDRED NINE-
 TY-SIX, THAT APPLY TO THE WORK OPPORTUNITY  TAX  CREDIT  FOR  VOCATIONAL
 REHABILITATION  REFERRALS  SHALL APPLY TO THE CREDIT UNDER THIS SUBDIVI-
 SION TO  THE EXTENT THAT SUCH SECTIONS ARE CONSISTENT WITH THE  SPECIFIC
 PROVISIONS OF THIS SUBDIVISION, PROVIDED THAT IN THE EVENT OF A CONFLICT
 THE  PROVISIONS OF THIS SUBDIVISION SHALL CONTROL.
   §  3.  Section    606    of   the   tax law is amended by adding a new
 subsection (nnn) to read as follows:
   (NNN) CREDIT FOR EMPLOYMENT OF PERSONS ON  PROBATION  OR  PAROLE.  (1)
 ALLOWANCE  OF  CREDIT.  A  TAXPAYER  SHALL  BE  ALLOWED  A CREDIT, TO BE
 COMPUTED AS HEREINAFTER PROVIDED, AGAINST  THE  TAXES  IMPOSED  BY  THIS
 ARTICLE, FOR EMPLOYING WITHIN  THE STATE A QUALIFIED EMPLOYEE.
   (2)  QUALIFIED  EMPLOYEE.  A  QUALIFIED EMPLOYEE IS AN INDIVIDUAL WHO:
 (A) HAS BEEN CONVICTED OF A FELONY  UNDER  ANY  STATUTE  OF  THE  UNITED
 STATES OR ANY STATE;  (B) IS ON PROBATION OR PAROLE; AND  (C) HAS WORKED
 ON A FULL-TIME BASIS FOR THE EMPLOYER WHO IS CLAIMING  THE CREDIT FOR AT
 LEAST ONE HUNDRED EIGHTY DAYS OR FOUR HUNDRED HOURS.
   (3)  AMOUNT  OF  CREDIT.  EXCEPT AS PROVIDED IN PARAGRAPH FOUR OF THIS
 SUBSECTION, THE AMOUNT OF CREDIT UNDER THIS SUBSECTION SHALL BE  THIRTY-
 FIVE   PERCENT OF THE FIRST SIX THOUSAND DOLLARS IN QUALIFIED FIRST-YEAR
 WAGES  EARNED BY EACH QUALIFIED EMPLOYEE. "QUALIFIED  FIRST-YEAR  WAGES"
 MEANS  WAGES PAID OR INCURRED BY THE TAXPAYER DURING THE TAXABLE YEAR TO
 QUALIFIED  EMPLOYEES  WHICH  ARE  ATTRIBUTABLE, WITH RESPECT TO ANY SUCH
 EMPLOYEE, TO SERVICES RENDERED DURING THE ONE-YEAR PERIOD BEGINNING WITH
 THE  DAY THE EMPLOYEE BEGINS WORK FOR THE TAXPAYER.
   (4) CREDIT WHERE FEDERAL WORK OPPORTUNITY  TAX  CREDIT  APPLIES.  WITH
 RESPECT TO ANY QUALIFIED EMPLOYEE WHOSE QUALIFIED FIRST-YEAR WAGES UNDER
 PARAGRAPH  THREE OF THIS SUBSECTION ALSO CONSTITUTE QUALIFIED FIRST-YEAR
 WAGES FOR PURPOSES OF THE WORK OPPORTUNITY  TAX  CREDIT  FOR  VOCATIONAL
 REHABILITATION REFERRALS UNDER SECTION FIFTY-ONE OF THE INTERNAL REVENUE
 CODE,  THE  AMOUNT  OF  CREDIT  UNDER  THIS SECTION SHALL BE THIRTY-FIVE
 PERCENT OF THE FIRST SIX THOUSAND DOLLARS IN QUALIFIED SECOND-YEAR WAGES
 EARNED BY EACH SUCH EMPLOYEE. "QUALIFIED SECOND-YEAR WAGES" MEANS  WAGES
 PAID  OR  INCURRED  BY THE TAXPAYER DURING THE TAXABLE YEAR TO QUALIFIED
 EMPLOYEES WHICH ARE ATTRIBUTABLE, WITH RESPECT TO ANY SUCH EMPLOYEE,  TO
 SERVICES  RENDERED  DURING  THE ONE-YEAR PERIOD BEGINNING ONE YEAR AFTER
 THE EMPLOYEE BEGINS WORK FOR THE TAXPAYER.

 S. 3505--A                          4
 
   (5) CARRYOVER. IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBSECTION
 FOR  ANY  TAXABLE  YEAR  EXCEEDS  THE  TAXPAYER'S TAX FOR SUCH YEAR, ANY
 AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER
 TO THE  FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE  TAXPAYER'S
 TAX FOR  SUCH YEAR OR YEARS.
   (6)  COORDINATION  WITH  FEDERAL  WORK  OPPORTUNITY  TAX  CREDIT.  THE
 PROVISIONS OF SECTIONS FIFTY-ONE AND FIFTY-TWO OF THE  INTERNAL  REVENUE
 CODE,  AS SUCH SECTIONS APPLIED ON OCTOBER FIRST, NINETEEN HUNDRED NINE-
 TY-SIX, THAT APPLY TO THE WORK OPPORTUNITY  TAX  CREDIT  FOR  VOCATIONAL
 REHABILITATION REFERRALS SHALL APPLY TO THE CREDIT UNDER THIS SUBSECTION
 TO    THE  EXTENT  THAT  SUCH  SECTIONS ARE CONSISTENT WITH THE SPECIFIC
 PROVISIONS OF THIS SUBSECTION, PROVIDED THAT IN THE EVENT OF A  CONFLICT
 THE  PROVISIONS OF THIS SUBSECTION SHALL CONTROL.
   §  4. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding a  new  clause  (xlix)  to  read  as
 follows:
 (XLIX) EMPLOYMENT OF PERSONS         COSTS UNDER SUBDIVISION
 ON PROBATION OR PAROLE CREDIT;       FIFTY-EIGHT OF SECTION
 SUBSECTION (NNN)                     TWO HUNDRED TEN-B
   §  5.  Section 1511 of the tax law is amended by adding a new subdivi-
 sion (ee) to read as follows:
   (EE) CREDIT FOR EMPLOYMENT OF PERSONS  ON  PROBATION  OR  PAROLE.  (1)
 ALLOWANCE  OF  CREDIT.  A  TAXPAYER  SHALL  BE  ALLOWED  A CREDIT, TO BE
 COMPUTED AS HEREINAFTER PROVIDED, AGAINST  THE  TAXES  IMPOSED  BY  THIS
 ARTICLE, FOR EMPLOYING WITHIN  THE STATE A QUALIFIED EMPLOYEE.
   (2)  QUALIFIED  EMPLOYEE.  A  QUALIFIED EMPLOYEE IS AN INDIVIDUAL WHO:
 (A) HAS BEEN CONVICTED OF A FELONY  UNDER  ANY  STATUTE  OF  THE  UNITED
 STATES OR ANY STATE;  (B) IS ON PROBATION OR PAROLE; AND  (C) HAS WORKED
 ON A FULL-TIME BASIS FOR THE EMPLOYER WHO IS CLAIMING  THE CREDIT FOR AT
 LEAST ONE HUNDRED EIGHTY DAYS OR FOUR HUNDRED HOURS.
   (3)  AMOUNT  OF  CREDIT.  EXCEPT AS PROVIDED IN PARAGRAPH FOUR OF THIS
 SUBDIVISION, THE AMOUNT OF CREDIT UNDER THIS SUBDIVISION SHALL BE  THIR-
 TY-FIVE    PERCENT OF THE FIRST SIX THOUSAND DOLLARS IN QUALIFIED FIRST-
 YEAR WAGES   EARNED BY EACH QUALIFIED  EMPLOYEE.  "QUALIFIED  FIRST-YEAR
 WAGES"  MEANS  WAGES PAID OR INCURRED BY THE TAXPAYER DURING THE TAXABLE
 YEAR TO QUALIFIED EMPLOYEES WHICH ARE ATTRIBUTABLE, WITH RESPECT TO  ANY
 SUCH EMPLOYEE, TO SERVICES RENDERED DURING THE ONE-YEAR PERIOD BEGINNING
 WITH THE  DAY THE EMPLOYEE BEGINS WORK FOR THE TAXPAYER.
   (4)  CREDIT  WHERE  FEDERAL  WORK OPPORTUNITY TAX CREDIT APPLIES. WITH
 RESPECT TO ANY QUALIFIED EMPLOYEE WHOSE QUALIFIED FIRST-YEAR WAGES UNDER
 PARAGRAPH THREE OF THIS SECTION  ALSO  CONSTITUTE  QUALIFIED  FIRST-YEAR
 WAGES  FOR  PURPOSES  OF  THE WORK OPPORTUNITY TAX CREDIT FOR VOCATIONAL
 REHABILITATION REFERRALS UNDER SECTION FIFTY-ONE OF THE INTERNAL REVENUE
 CODE, THE AMOUNT OF CREDIT  UNDER  THIS  SECTION  SHALL  BE  THIRTY-FIVE
 PERCENT OF THE FIRST SIX THOUSAND DOLLARS IN QUALIFIED SECOND-YEAR WAGES
 EARNED  BY EACH SUCH EMPLOYEE. "QUALIFIED SECOND-YEAR WAGES" MEANS WAGES
 PAID OR INCURRED BY THE TAXPAYER DURING THE TAXABLE  YEAR  TO  QUALIFIED
 EMPLOYEES  WHICH ARE ATTRIBUTABLE, WITH RESPECT TO ANY SUCH EMPLOYEE, TO
 SERVICES RENDERED DURING THE ONE-YEAR PERIOD BEGINNING  ONE  YEAR  AFTER
 THE EMPLOYEE BEGINS WORK FOR THE TAXPAYER.
   (5)  CARRYOVER.  THE  CREDIT  ALLOWED UNDER THIS SUBDIVISION   FOR ANY
 TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE
 AMOUNT  PRESCRIBED  IN  PARAGRAPH  FOUR OF SUBDIVISION   (A) OF  SECTION
 FIFTEEN  HUNDRED  TWO  OF THIS ARTICLE OR THE MINIMUM  TAX PRESCRIBED IN
 SECTION FIFTEEN HUNDRED TWO-A OF THIS ARTICLE, WHICHEVER IS  APPLICABLE.
 IF,  HOWEVER,  THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBDIVISION FOR

 S. 3505--A                          5
 
 ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY  AMOUNT  OF  CREDIT
 NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING
 YEAR  OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR
 OR YEARS.
   (6)  COORDINATION  WITH  FEDERAL  WORK  OPPORTUNITY  TAX  CREDIT.  THE
 PROVISIONS OF SECTIONS FIFTY-ONE AND FIFTY-TWO OF THE  INTERNAL  REVENUE
 CODE,  AS SUCH SECTIONS APPLIED ON OCTOBER FIRST, NINETEEN HUNDRED NINE-
 TY-SIX, THAT APPLY TO THE WORK OPPORTUNITY  TAX  CREDIT  FOR  VOCATIONAL
 REHABILITATION  REFERRALS  SHALL APPLY TO THE CREDIT UNDER THIS SUBDIVI-
 SION TO THE EXTENT THAT SUCH SECTIONS ARE CONSISTENT WITH  THE  SPECIFIC
 PROVISIONS OF THIS SUBDIVISION, PROVIDED THAT IN THE EVENT OF A CONFLICT
 THE PROVISIONS OF THIS SUBDIVISION SHALL CONTROL.
   §  6. This act shall take effect immediately, and shall apply to taxa-
 ble years beginning on and after January 1, 2021.