Bill > A03960

This bill establishes a small business tax credit for the employment of disabled persons. The key provisions are: 1. Businesses with 100 or fewer employees 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 and remain employed for at least 6 months. 3. The total amount of tax credits available each year is $5 million, which will be allocated by the Commissioner. 4. The labor law is amended to give the Commissioner authority to administer the tax credit program, including establishing guidelines for employer participation and certifying eligible employees. 5. The tax credit is available for taxable years beginning on or after January 1, 2023 and will expire on December 31, 2028.