Walter Eyes Job Creation For End Of Session

Assemblyman urges focus on economy
June 14, 2012

Assemblyman Ray Walter (R,C,I-Amherst) is honing in on a number of job-creating bills as the 2012 Legislative Session draws to a close. The assemblyman indicated that while his first session in the state Assembly has been productive, there is still time to add to the year’s accomplishments.

“Since the moment that I was sworn in to the state Assembly, I’ve had three things on my agenda: jobs, jobs and jobs,” said Walter. “There is plenty of time left to grow New York’s economy by passing meaningful legislation to help our job creators and localities. Our focus cannot waver as time runs out. I am committed to spending every last moment of the 2012 session getting Western New Yorkers back to work.

Walter is sponsoring a number of bills to aid in job creation and reduce costs for businesses and localities, including:

  • BizBoom (Assembly Bill A.10364): Establish the “BizBoom” business start-up program that will cut all application fees for new businesses by 50 percent for the first year, eliminate business income taxes for the first year and reduce income tax rates for the second and third years;
  • Division of Regulatory Review & Economic Growth (Assembly Bill A.10419): Create the “Division of Regulatory Review & Economic Growth” (D-RREG) led by a commissioner who has a fixed term, to review and make binding recommendations for the elimination of burdensome, job-killing regulations;
  • Innovators Corps (Assembly Bill A.10445): Develop the “Innovators Corps,” which is a four-member division of business experts to identify, recruit and/or retain domestic and international high technology businesses;
  • New York State Business Incubator Network (Assembly Bill A.10399): Establish the New York State Business Incubator Network to support the development of academic-linked business incubators and to accelerate the growth and success of early-stage companies so important to building New York’s innovation economy;
  • High-Tech Worker-NY (Assembly Bill A.10359): Provide a Personal Income Tax exemption of up to $50,000 per year for the first five years for new high-tech employees who completed a high-tech training program within the past 12 months (any college, vocational or certification program);
  • Invest-NY (Assembly Bill A.10353): Create an Angel Investment Tax Credit to encourage private investment in business. This measure also amends the definition of a Qualified Emerging Technology Company (QETC) to allow more companies to be eligible for the QETC tax credit and expands eligibility for the NYS Investment Tax Credits to ALL businesses that make new investments in property and equipment in New York;
  • Patent-NY (Assembly Bill A.10360): Implement a Personal Income Tax credit for patent fees to ensure New York remains home to the innovative breakthroughs our economy needs;
  • Retain-NY (Assembly Bill A.10354): Provide a Personal Income Tax deduction for all interest paid on student loans for taxpayers and increase the current college tuition tax credit deduction from $10,000 to $13,820 and maximum tax credit from $400 to $553.