NY S00310

Establishes a re-entry employment incentive tax credit for employers hiring formerly incarcerated individuals on or after January 1, 2012, with credit amounts of 50% of qualified wages in year one, 40% in year two, and 30% in year three of employment.

Limits qualified wages to a maximum of $10,000 per year per employee, with employees required to work at least three continuous months and earn at least 140% of New York State minimum wage.

Applies to individuals convicted of felonies within the last five years, released from correctional facilities within five years, or currently serving parole, probation, or post-release supervision, and who reside in New York State.

Creates a pilot program designating 100 formerly incarcerated individuals to participate for three years beginning January 1, 2012, with the Commissioner of Labor to consult with The Fortune Society for identification and designation.

Establishes a reporting requirement with a March 31, 2015 deadline for the Commissioner of Labor to submit an effectiveness report to the Governor, legislative leadership, and relevant committees; credit provisions expire December 31, 2014.