Bill > S1958

This bill establishes a micro business employee training and workforce development program designed to support small businesses in hiring formerly incarcerated individuals and people receiving transitional assistance. Specifically, the bill creates a tax credit for employers with 10 or fewer employees and annual gross profits under $250,000 who hire eligible individuals, offering a $2,000 credit per hire. The credit is available for up to 10 consecutive years, provided the employee remains employed. Additionally, the bill creates a micro business worker development and training fund within the executive office of housing and economic development, which will receive funding from various state appropriations. Employers who qualify for the tax credit will also receive additional financial support through a sliding scale of funding: $15,000 in the first year, decreasing to $9,000 by the fifth year. The primary goals of this program are to promote micro business development, create job opportunities, and reduce recidivism by supporting employment for individuals who have recently been incarcerated or are receiving transitional assistance.

Budget and Finance

https://malegislature.gov/Bills/194/S1958