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MS SB2446
Bill
AI Summary
- Authorizes an annual income tax credit of $2,500 for taxpayers who employ individuals convicted of nonviolent felonies, available for up to four years per employee
- Requires employees to work at least 10 consecutive months during the year at an average of 40 hours per week to qualify for the credit
- Limits individual taxpayers to claiming the credit for no more than 10 employees per taxable year, with an aggregate statewide cap of $1,500,000 per taxable year
- Credit cannot exceed the taxpayer's tax liability for the year after other allowable credits are applied
- Sunsets on January 1, 2024, though taxpayers eligible before that date remain eligible for their full four-year credit period
Legislative Description
Income tax credit; authorize for taxpayers employing persons who have been convicted of certain nonviolent crimes.
Last Action
Died In Committee
2/2/2021
Committee Referrals
Labor1/18/2021
Full Bill Text
No bill text available