Bill > A04733

This bill establishes a small business tax credit for the employment of disabled persons. The key provisions are: 1. A small business with 100 employees or less can claim a credit of $5,000 per disabled person hired, up to $25,000 total, provided the disabled person works at least 35 hours per week and remains employed for at least 6 months. The employer must verify the employee meets the statutory definition of a "disabled person." 2. The credit can be carried over for up to 3 years if it exceeds the business's tax liability. The total amount of credits available each year is capped at $5 million, allocated by the Commissioner. 3. The Commissioner of Labor is authorized to establish and administer the tax credit program, including certifying qualified employers and employees, and adopting emergency regulations as needed. 4. The tax credit is effective for taxable years beginning January 1, 2025 through December 31, 2030, at which point the provisions will expire.