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california Senate - jobs & the economy
Sb-1333 (2020)
Corporation Tax Law: credits: employment: homelessness.
Status
- 11/30/20: From committee without further action.
- History
Purpose
- This bill would allow a credit under the Corporation Tax Law for each taxable year beginning on or after January 1, 2020, and before January 1, 2026, to a qualified taxpayer that employs an eligible individual during the taxable year, in an amount between $2,500 and $10,000 per eligible individual, not to exceed $30,000 per taxable year, depending on the amount of hours worked by the eligible individual. The bill would define various terms for purposes of the credit, including defining “eligible individual” as a person who is homeless.
Impact
- Creates tax credit supporting up to 3,000 individuals in securing meaningful employment.
- Up to $10,000 tax credit for every qualified employee experiencing homelessness hired.
- Homeless Hiring Tax Credit serves as a resource in assisting businesses in need of economic stability.
- Presents opportunity for businesses to contribute to solving the homelessness crisis across California.
Position
- Recommended Position: Support
Read the official bill. Click Here