STATE OF NEW YORK
________________________________________________________________________
4093--C
2015-2016 Regular Sessions
IN SENATE
February 26, 2015
___________
Introduced by Sens. ADDABBO, COMRIE, DILAN, ESPAILLAT, PARKER, PERKINS
-- read twice and ordered printed, and when printed to be committed to
the Committee on Investigations and Government Operations -- recommit-
ted to the Committee on Investigations and Government Operations in
accordance with Senate Rule 6, sec. 8 -- committee discharged, bill
amended, ordered reprinted as amended and recommitted to said commit-
tee -- committee discharged, bill amended, ordered reprinted as
amended and recommitted to said committee -- committee discharged,
bill amended, ordered reprinted as amended and recommitted to said
committee
AN ACT to amend the tax law, in relation to establishing a small busi-
ness tax credit for the employment of disabled persons
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 210-B of the tax law is amended by adding a new
2 subdivision 49 to read as follows:
3 49. Small business tax credit; disabled persons. (a) General. A
4 taxpayer who has one hundred employees or less, shall be allowed a cred-
5 it, to be computed as provided in this subdivision, against the tax
6 imposed by this article for each disabled person hired during a taxable
7 year, provided that such disabled person is employed for thirty-five
8 hours or more per week and remains in the employ of such taxpayer for
9 twelve months or more.
10 (b) Amount of credit. A credit authorized by this section shall equal
11 five thousand dollars per hired disabled person but shall not exceed
12 twenty-five thousand dollars.
13 (c) Carryovers. The credit allowed under this subdivision may be
14 claimed and if not fully used in the initial year for which the credit
15 is claimed may be carried over, in order, to each of the five succeeding
16 taxable years. The credit authorized by this subdivision may not be used
17 to reduce the tax liability of the credit claimant below zero.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03112-12-6
S. 4093--C 2
1 (d) Definitions. As used in this subdivision, the term "disabled
2 person" shall mean a person who suffers from any physical, mental or
3 medical impairment resulting from anatomical, physiological, genetic or
4 neurological conditions which prevents the exercise of a normal bodily
5 function or is demonstrable by medically accepted clinical or laboratory
6 diagnostic techniques.
7 (e) Aggregate amount. The aggregate amount of tax credits allowed
8 pursuant to the authority of this subdivision and subsection (ccc) of
9 section six hundred six of this chapter shall be five million dollars
10 each year. Such aggregate amounts of credits shall be allocated by the
11 commissioner. If the total amount of allocated credits applied for in
12 any particular year exceeds the aggregate amount of tax credits allowed
13 for such year under this section, such excess shall be treated as having
14 been applied for on the first day of the subsequent year.
15 (f) Claim of credit. A taxpayer shall not be allowed to claim this
16 credit to the extent the basis of the calculation of this credit has
17 been claimed for another tax credit under this chapter.
18 § 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
19 of the tax law is amended by adding a new clause (xliii) to read as
20 follows:
21 (xliii) Small business tax credit; Amount of credit under
22 disabled persons undersubdivision forty-nine
23 subsection (ccc)of section two hundred
24 ten-B
25 § 3. Section 606 of the tax law is amended by adding a new subsection
26 (ccc) to read as follows:
27 (ccc) Small business tax credit; disabled persons. (1) General. A
28 taxpayer who has one hundred employees or less, shall be allowed a cred-
29 it, to be computed as provided in this subsection, against the tax
30 imposed by this article for each disabled person hired during a taxable
31 year, provided that such disabled person is employed for thirty-five
32 hours or more per week and remains in the employ of such taxpayer for
33 twelve months or more.
34 (2) Amount of credit. A credit authorized by this section shall equal
35 five thousand dollars per hired disabled person but shall not exceed
36 twenty-five thousand dollars.
37 (3) Carryovers. The credit allowed under this subsection may be
38 claimed and if not fully used in the initial year for which the credit
39 is claimed may be carried over, in order, to each of the five succeeding
40 taxable years. The credit authorized by this subsection may not be used
41 to reduce the tax liability of the credit claimant below zero.
42 (4) Definitions. As used in this subsection, the term "disabled
43 person" shall mean a person who suffers from any physical, mental or
44 medical impairment resulting from anatomical, physiological, genetic or
45 neurological conditions which prevents the exercise of a normal bodily
46 function or is demonstrable by medically accepted clinical or laboratory
47 diagnostic techniques.
48 (5) Aggregate amount. The aggregate amount of tax credits allowed
49 pursuant to the authority of this subsection and subdivision forty-nine
50 of section two hundred ten-B of this chapter shall be five million
51 dollars each year. Such aggregate amounts of credits shall be allocated
52 by the commissioner. If the total amount of allocated credits applied
53 for in any particular year exceeds the aggregate amount of tax credits
54 allowed for such year under this section, such excess shall be treated
55 as having been applied for on the first day of the subsequent year.
S. 4093--C 3
1 (6) Claim of credit. A taxpayer shall not be allowed to claim this
2 credit to the extent the basis of the calculation of this credit has
3 been claimed for another tax credit under this chapter.
4 § 4. This act shall take effect immediately and shall apply to taxable
5 years beginning on or after January 1, 2017.