Senate Bill 2664 Summary

• Authorizes an annual income tax credit of $2,500 for taxpayers who employ individuals convicted of nonviolent felonies, available for up to 4 years per employee.

• Requires eligible employees to work at least 10 consecutive months during the year and average at least 40 hours per week; limits each taxpayer to claiming the credit for no more than 10 employees annually.

• Caps the maximum aggregate tax credits that all taxpayers may claim in any taxable year at $1,500,000.

• Protects taxpayers who became eligible before January 1, 2022, allowing them to continue claiming the credit even after the section's scheduled repeal.

• Repeals this tax credit provision on January 1, 2022, with an effective date of January 1, 2019.