Creates a work opportunity tax credit

This bill establishes a new work opportunity tax credit for employers in New York who hire residents from specific targeted groups, such as individuals with barriers to employment. Under the proposed rules, eligible businesses can claim a tax credit of up to $500 per employee for qualified wages paid to these workers, provided they receive a certification from the state Department of Labor. The legislation limits the total amount of credits available to $30 million over its lifespan and prevents wages used for this credit from being counted toward other tax incentives. The program is scheduled to begin on April 1, 2025, and will remain in effect until December 31, 2027.