Bill > A04583

This bill creates a new tax credit to incentivize employers to hire individuals with recent felony convictions who are either recently released from correctional facilities or currently serving post-release supervision. Specifically, the bill allows taxpayers to claim a tax credit for hiring "qualifying individuals" who meet certain criteria: they must have been convicted of a felony in New York within the past five years, reside in the state, and receive qualified wages for at least three continuous months. The tax credit is structured to decrease over time, offering 50% of qualified wages in the first year of employment, 40% in the second year, and 30% in the third year. Qualified wages are capped at $15,000 per year, and the total credit cannot exceed 50% of the taxpayer's total tax liability. The credit applies to both corporate and personal income taxes and will take effect 60 days after becoming law. The goal of this legislation appears to be supporting the reintegration of formerly incarcerated individuals into the workforce by providing a financial incentive for employers to hire them, potentially reducing recidivism and helping individuals rebuild their lives after serving time.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A4583