STATE OF NEW YORK ________________________________________________________________________ 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 opportunity Amount 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