Bill > S07296

This bill establishes a small business tax credit for the employment of disabled persons. The key provisions are: 1. Small businesses (100 employees or less) can claim a tax credit of $5,000 per disabled person hired, up to a maximum of $25,000 per year. 2. To qualify, the disabled employee must work at least 35 hours per week, remain employed for at least 6 months, and meet the statutory definition of "disabled person." 3. The tax credit can be carried over for up to 3 years if it exceeds the business's tax liability in a given year. 4. The total amount of tax credits available is capped at $5 million per year, to be allocated by the tax commissioner. 5. The labor law is amended to authorize the commissioner to administer the tax credit program, including certifying qualified employers and employees. 6. The bill is effective immediately and applies to tax years beginning January 1, 2021, expiring on December 31, 2026.