Bill > S03505

This bill creates a tax credit for employers who hire individuals on probation or parole. The key provisions include: 1. Allowing a tax credit of 35% of the first $6,000 in qualified first-year wages for each qualified employee, defined as someone who has been convicted of a felony, is on probation or parole, and has worked full-time for the employer for at least 180 days or 400 hours. 2. Providing a higher credit of 35% of the first $6,000 in qualified second-year wages if the employee's wages also qualify for the federal Work Opportunity Tax Credit. 3. Allowing any unused credit to be carried over to future tax years. 4. Coordinating the state credit with the federal Work Opportunity Tax Credit to the extent the provisions are consistent. The bill applies to tax years beginning on or after January 1, 2021.