WeVote
Log In

Bill

Bill

A 3279

Establishes the New York state cryptocurrency and blockchain study task force

2025 Regular Session Introduced by Chris Burdick and 6 co-sponsors

The bill creates state tax credits (15% of wages, up to $900 per ex‑offender) for employers hiring qualified ex‑offenders within one year of conviction or release.

RETURNED TO ASSEMBLY
0
WeVote Research Nonpartisan
Bill Summary · A 3279

Summary — A.3279 (Introduced Version)

Note on source materials: the packet you provided includes conflicting headings (a title mentioning a New York cryptocurrency task force) but the full bill text is a New Jersey–style statutory amendment creating tax credits for employers who hire certain ex‑offenders. This summary focuses on the substantive bill text contained in the materials (tax credits for hiring ex‑offenders).

Purpose

To encourage hiring of recently convicted individuals by providing state tax credits to employers that hire “qualified ex‑offenders.” The policy mirrors the federal Work Opportunity Tax Credit (WOTC) model.

Key provisions

  • Corporate business tax credit (New Jersey P.L.1945, c.162 / C.54:10A):

    • Employers may claim a credit equal to 15% of wages paid during the privilege period for each qualified ex‑offender.
    • Credit capped at $900 per qualified ex‑offender per privilege period.
    • Total credits (including other credits) may not reduce CBT liability by more than 50% and may not reduce tax below the statutory minimum (per subsection (e) of section 5).
    • Unused credit may be carried forward up to seven subsequent privilege periods.
    • The Director of the Division of Taxation sets the order in which credits are applied.

  • Gross income tax credit (New Jersey Gross Income Tax, N.J.S.54A:1‑1 et seq.):

    • Individual taxpayers may claim a credit equal to 15% of wages paid in the taxable year for each qualified ex‑offender, up to $900 per ex‑offender per taxable year.
    • The credit is applied after all other credits and payments; any excess constitutes an overpayment eligible for refund.
    • Partnerships do not claim the credit directly; instead, the partnership’s credit is allocated pro rata to partners’ distributive shares for computation on individual returns.

Eligibility — “Qualified ex‑offender”

  • An individual convicted of a crime of the first, second, third, or fourth degree under state law; and
  • Hired within one year of the conviction date or release from incarceration.

Effective date

  • The act takes effect immediately and applies to wages paid in privilege periods and taxable years beginning after enactment.

Who is affected

  • Employers (corporations, individuals with employees, and partners via allocation) that hire qualifying ex‑offenders within one year of conviction/release.
  • Qualified ex‑offenders (may improve employment prospects).
  • State tax administration (Division of Taxation) — responsible for credit application and credit ordering.
  • State fiscal condition — potential revenue loss estimated at up to $900 per qualified hire (aggregate impact depends on number of hires; fiscal estimates are not included in the text).

Procedural status (as provided)

  • Introduced: 2024‑01‑09 (Assembly), referred to Commerce, Economic Development and Agriculture Committee.
  • Passed Assembly: 2025‑05‑28; delivered to Senate and referred to Banks Committee.
  • Passed Senate: 2025‑06‑04 (substituted for S4728A); returned to Assembly. Current status listed as “RETURNED TO ASSEMBLY.”

Additional notes

  • The credit is explicitly modeled on the federal WOTC but is narrower in value (15% of wages, capped at $900 per employee) compared with the federal credit structure.
  • The materials contain duplicate and binary/PDF fragments; this summary extracts the statutory content and procedural history present in the packet.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.