Bill > S04857

This bill creates a job development incentive income tax credit available to employers who employ individuals who were previously receiving unemployment benefits. The credit provides $2,400 for each eligible "creditable employee" who meets certain criteria, including being employed for the first time on or after the effective date of the bill, having filed a claim for and received unemployment benefits in New York for at least two months, and remaining employed by the employer for at least 24 consecutive months with at least 30 hours per week. The credit can be claimed for the tax year in which the 24th month of employment is completed, and any unused credit can be carried forward for up to five years.