Individuals released from incarceration for conviction of a felony; tax credits for employing. (HB65)

Introduced By

Del. Delores McQuinn (D-Richmond) with support from co-patron Sen. Lamont Bagby (D-Richmond)

Description

Tax credits for employing individuals released from incarceration for conviction of a felony. Establishes, for taxable years beginning on and after January 1, 2018, but before January 1, 2023, an individual and corporate income tax credit for taxpayers hiring individuals released from incarceration into new jobs paying an annual salary of at least $50,000. The bill defines "individual released from incarceration" as a person who was released from incarceration for conviction of a felony within the five years immediately preceding the date on which the person was hired into the new job. The tax credit would equal $500 each year for five years for each such employee holding the new job continuously throughout the year. No credit would be allowed for any year in which the number of full-time employees of the taxpayer is less than the average annual number of full-time employees of the taxpayer in the immediately preceding three years. Read the Bill »

Outcome

History