Bill > A04855

This bill creates a tax credit for employers who hire individuals on probation or parole in New York. The key provisions are: 1. Taxpayers can claim a 35% tax credit on the first $6,000 in qualified first-year wages paid to each eligible employee who is on probation or parole. Eligible employees must have been convicted of a felony, be on probation or parole, and have worked at least 180 days or 400 hours for the employer. 2. If the eligible employee's wages also qualify for the federal work opportunity tax credit, the state tax credit is 35% of the first $6,000 in qualified second-year wages instead. 3. The tax credit can be carried over to future years if it exceeds the taxpayer's tax liability in the current year. 4. The state tax credit is coordinated with the federal work opportunity tax credit, with the state credit taking precedence in case of any conflicts. The bill applies to tax years beginning on or after January 1, 2019.