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Homeless Hiring Tax Credit

Assembly Bill (AB) 150

California’s governor signed Assembly Bill (AB) 150 establishing the Homeless Hiring Tax Credit (HHTC). The credit is available for taxable years beginning January 1, 2022 through December 31, 2026. Reservations for tax credits by businesses begins January 3, 2022 at the State Franchise Tax Board Website.

Employers may receive $2,500 to $10,000 in tax credit per eligible employee based on hours worked in the taxable year. Employers may claim up to $30,000 of credit per taxable year.

To be eligible, the employee must be certified as homeless or receiving homeless services by a certifying organization. Employers must make a tentative credit reservation with the State Franchise Tax Board to claim the credit. Employers can make reservations starting January 3, 2022 until the available credits are reserved. Employers will claim the credit when they file their tax return. A total of $30 million of credit is available annually and employers can roll unused credits into future years for up to three years. For more information and to reserve credits, visit the State Franchise Tax Board website.

Find more information on HHCT.

WebinarS

The City hosted webinars for businesses to learn more about the State’s new homeless hiring tax credit for businesses and to provide opportunity for businesses and certifying/homeless services and workforce referral agencies to connect.

Access the webinar slides and video recordings below: