Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2024 |
referred to budget and revenue |
Mar 13, 2023 |
referred to budget and revenue |
Senate Bill S5673
2023-2024 Legislative Session
Sponsored By
(D) 34th Senate District
Current Bill Status - In Senate Committee Budget And Revenue Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2023-S5673 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A4951
- Current Committee:
- Senate Budget And Revenue
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§210-B & 606, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2017-2018:
A11367
2019-2020: A2757
2021-2022: A2252
2023-S5673 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5673 SPONSOR: FERNANDEZ TITLE OF BILL: 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 PURPOSE OR GENERAL IDEA OF BILL: This legislation will provide small businesses with a tax credit for hiring non-violent felons. SUMMARY OF PROVISIONS: Section 1: Section of the 210-B of the tax law is amended to establish the rehabilitation opportunity tax credit. Small Businesses that hire a previous felon convicted for non-violent crimes for at least 1 year will be eligible for 51,500 a year. Section 2: Subparagraph (B) of paragraph 1 of subsection (i) of section 606 of the tax law is amended by adding the new rehabilitation opportu-
2023-S5673 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5673 2023-2024 Regular Sessions I N S E N A T E 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: Section 1. Section 210-B of the tax law is amended by adding a new subdivision 59 to read as follows: 59. REHABILITATION OPPORTUNITY TAX CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, AGAINST THE TAX IMPOSED BY THIS ARTICLE, OF ONE THOUSAND FIVE HUNDRED DOLLARS FOR EACH PERSON PREVIOUSLY CONVICTED OF A CRIME HIRED DURING A TAXABLE YEAR AND RETAINED FOR FULL-TIME EMPLOYMENT BY SUCH BUSINESS FOR AT LEAST SIX MONTHS. SUCH TAX CREDIT SHALL BE APPLICABLE ONLY TO BUSINESSES EMPLOYING FIFTY OR FEWER EMPLOYEES. § 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 of the tax law is amended by adding a new clause (l) to read as follows: (L) REHABILITATION OPPORTUNITY AMOUNT OF CREDIT UNDER SUBDIVISION TAX CREDIT UNDER SUBSECTION (OOO) FIFTY-NINE OF SECTION TWO HUNDRED TEN-B § 3. Section 606 of the tax law is amended by adding a new subsection (ooo) to read as follows: (OOO) REHABILITATION OPPORTUNITY TAX CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, AGAINST THE TAX IMPOSED BY THIS ARTICLE, OF ONE THOU- SAND FIVE HUNDRED DOLLARS FOR EACH PERSON PREVIOUSLY CONVICTED OF A CRIME HIRED DURING A TAXABLE YEAR AND RETAINED FOR FULL-TIME EMPLOYMENT BY SUCH BUSINESS FOR AT LEAST SIX MONTHS. SUCH TAX CREDIT SHALL BE APPLICABLE ONLY TO BUSINESSES EMPLOYING FIFTY OR FEWER EMPLOYEES. § 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
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