CT HB05583

Creates a tax credit for employers who hire individuals convicted of a felony, with employment beginning within one year of conviction or release from the Department of Correction.

First-year credit equals 25% of wages paid (up to $10,000 maximum); second-year credit equals 10% of wages paid (up to $5,000 maximum).

Unused credits may be carried forward to the two succeeding tax years.

Expands the Neighborhood Assistance Act tax credit to include nonprofit organizations that hire individuals released from the Department of Correction custody, allowing a 60% credit on cash investments in such organizations.

Takes effect July 1, 2018 for the Neighborhood Assistance Act changes and July 1, 2019 for the felony hiring tax credit.