Income taxes: credit: employer: qualified wages.

The Personal Income Tax Law and Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2023, and before January 1, 2028, in an amount, not to exceed $30,000 per qualified taxpayer per taxable year, equal to 40% of the amount paid or incurred by a qualified taxpayer during the taxable year for qualified wages of qualified employees, not to exceed $6,000 per qualified employee. The bill would define "qualified employee" to mean an employee who is hired on or after January 1, 2023, who is a vocational rehabilitation referral, qualified SSI recipient, or qualified SSDI recipient, and who was not an employee of the qualified taxpayer in the previous 5 taxable years. Existing law requires a bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. The bill would also include additional information required for a bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.