Corporation Tax Law: credits: employment: homelessness.

The Corporation Tax Law allows various credits against the tax imposed by that law. 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. The bill would require an eligible employer to obtain an eligible employer certification from the Employment Development Department to receive the credit, and would require the Employment Development Department to issue a certification to eligible employers, as specified. The bill would require each continuum of care to issue certifications to eligible individuals that are homeless, as specified. By increasing the duties of local continuum of care, the bill would impose a state-mandated local program. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives that the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would also include additional information required for any bill authorizing a new tax expenditure. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above. This bill would take effect immediately as a tax levy.