Income tax, state and corporate; conversion to employee ownership.

Income tax credit; conversion to employee ownership.Creates a nonrefundable, one-time individual and corporate incometax credit for an eligible business that (i) transfers whole or partial ownership to employees in the form of a worker cooperative,an employee stock ownership plan, an employee ownership trust, anemployee equity grant program, or an employee stock purchase planor (ii) is conducting a feasibility study for a transition to suchemployee ownership models. The credit is available for taxable years2022 through 2026, is equal to up to $5,000 per eligible businessthat transfers ownership to employees or incurs costs for conductinga feasibility study for transferring ownership to employees duringthe taxable year, and includes an aggregate annual cap of $5 million.