HB5719 Summary: Employee Targeted Tax Credit Pilot Program Act

• Creates a tax credit of $10,000-$15,000 per year for businesses that hire formerly incarcerated individuals (released between January 1, 2008 and December 31, 2018) for full-time positions paying at least $30,000 annually with benefits including health insurance, 401K, sick time, and paid vacation.

• Establishes a pilot program limited to 20,000 total participants (10,000 newly released from prison and 10,000 released between 2008-2018) during the incentive period from July 1, 2019 through June 30, 2024.

• Caps total tax credits awarded at $1.5 billion with credits allocated on a first-come, first-served basis; requires participants to be maintained in qualifying positions for at least 24 months to receive credits.

• Eliminates mandatory minimum sentencing for Class X, Class 1, Class 2, Class 3, and Class 4 felonies and misdemeanors in the Unified Code of Corrections, allowing judges discretion in sentencing.

• Permits currently incarcerated individuals who would qualify for reduced sentences under the new sentencing provisions to petition for resentencing with credit for time already served.