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A05211 Summary:

BILL NOA05211B
 
SAME ASSAME AS S03066-A
 
SPONSORFahy
 
COSPNSR
 
MLTSPNSR
 
Amd 606, Tax L
 
Provides a tax credit for certain state employees who served in a position or positions in the classified service of the state of New York designated managerial or confidential pursuant to article fourteen of the civil service law.
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A05211 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         5211--B
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 7, 2017
                                       ___________
 
        Introduced  by  M. of A. FAHY -- read once and referred to the Committee
          on Ways and Means  --  committee  discharged,  bill  amended,  ordered
          reprinted  as  amended  and  recommitted  to  said  committee -- again
          reported from said committee with  amendments,  ordered  reprinted  as
          amended and recommitted to said committee

        AN  ACT  to  amend  the  tax law, in relation to establishing a personal
          income tax credit for certain employees who served in  a  position  or
          positions  in  the  classified service of the state of New York desig-
          nated managerial or confidential pursuant to article fourteen  of  the
          civil service law
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
     2  subsection (ccc) to read as follows:
     3    (ccc)  Management/confidential  personal  income  tax  credit.  (1)  A
     4  taxpayer who served in a position or positions in the classified service
     5  of the state of New York designated managerial or confidential  pursuant
     6  to  article  fourteen  of  the  civil  service law and has retired or is
     7  retiring between April first, two thousand nine and March  thirty-first,
     8  two thousand nineteen and had a salary increase authorized under chapter
     9  ten  of the laws of two thousand eight which was withheld for the fiscal
    10  years two thousand nine and/or two thousand ten shall be allowed a cred-
    11  it against the tax imposed by this article of up to one thousand dollars
    12  annually for five years. The comptroller shall certify to the department
    13  a listing of all such taxpayers deemed eligible as defined above.
    14    (2) Any tax credit not used in the taxable year of retirement  may  be
    15  carried  forward  or  backwards  for three calendar years until the full
    16  credit has been allowed.
    17    § 2. This act shall take effect immediately and shall apply to taxable
    18  years beginning on and after January 1, 2017.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09296-03-7
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