Income taxes: credits: qualified employees.

The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws, including a credit for taxable years beginning on or after January 1, 2009, in the amount of $3,000 for each full-time employee hired by a qualified employer. Those laws define "qualified employer" as a taxpayer that employed 20 or fewer employees as of the last day of the preceding taxable year. This bill would, under both laws, for taxable years beginning on or after January 1, 2011, authorize a credit in the amount of $5,000 for each full-time employee who is either an ex-offender, or a person who has been unemployed for 12 or more consecutive months, as specified. This bill would take effect immediately as a tax levy.