New York State Assembly

 
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A01369 Summary:

A01369 Actions:

A01369 Committee Votes:

Committee:WAYS AND MEANS   Chair:Weinstein      
DATE:05/22/2018AYE/NAY:29/0  Action: Favorable         
Weinstein
Aye
Oaks
Aye
Lentol
Aye
Crouch
Aye
Schimminger
Excused
Barclay
Aye
Gantt
Excused
Fitzpatrick
Aye
Glick
Aye
Hawley
Aye
Nolan
Aye
Malliotakis
Aye
Pretlow
Aye
Walter
Aye
Perry
Aye
Montesano
Excused
Colton
Aye
Curran
Aye
Cook
Aye
Ra
Aye
Cahill
Aye
Aubry
Aye
Hooper
Excused
Thiele
Aye
Cusick
Aye
Ortiz
Excused
Benedetto
Aye
Weprin
Aye
Rodriguez
Aye
Ramos
Excused
Braunstein
Aye
McDonald
Aye
Rozic
Aye
Peoples-Stokes
Aye
Simotas
Aye

A01369 Floor Votes:

A01369 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         1369--A
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 11, 2017
                                       ___________
 
        Introduced  by M. of A. CUSICK, LUPARDO, McDONALD, FINCH, CROUCH, BLANK-
          ENBUSH, COLTON, MALLIOTAKIS, WEPRIN, HUNTER -- read once and  referred
          to  the Committee on Ways and Means -- recommitted to the Committee on
          Ways and Means in accordance with Assembly Rule 3, sec. 2 -- 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; and providing
          for the repeal of such provisions upon expiration thereof
 
          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 53 to read as follows:
     3    53. 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.
    18    (d)  Definitions.  As  used  in  this  subdivision, the term "disabled
    19  person" shall mean a person who suffers from  any  physical,  mental  or
    20  medical  impairment resulting from anatomical, physiological, genetic or
    21  neurological conditions which prevents the exercise of a  normal  bodily
    22  function or is demonstrable by medically accepted clinical or laboratory
    23  diagnostic techniques.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00368-02-8
        A. 1369--A                          2
 
     1    (e)  Aggregate  amount.  The  aggregate  amount of tax credits allowed
     2  pursuant to the authority of this subdivision and  subsection  (jjj)  of
     3  section  six  hundred  six of this chapter shall be five million dollars
     4  each year.  Such aggregate amounts of credits shall be allocated by  the
     5  commissioner.    If the total amount of allocated credits applied for in
     6  any particular year exceeds the aggregate amount of tax credits  allowed
     7  for such year under this section, such excess shall be treated as having
     8  been applied for on the first day of the subsequent year.
     9    (f)  Claim  of  credit.  A taxpayer shall not be allowed to claim this
    10  credit to the extent the basis of the calculation  of  this  credit  has
    11  been claimed for another tax credit under this chapter.
    12    §  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
    13  of the tax law is amended by adding a  new  clause  (xliv)  to  read  as
    14  follows:
    15  (xliv) Small business tax credit;    Amount of credit under
    16  disabled persons under               subdivision fifty-three
    17  subsection (jjj)                     of section two hundred
    18                                       ten-B
    19    § 3.  Section 606 of the tax law is amended by adding a new subsection
    20  (jjj) to read as follows:
    21    (jjj)  Small  business  tax  credit;  disabled persons. (1) General. A
    22  taxpayer who has one hundred employees or less, shall be allowed a cred-
    23  it, to be computed as provided  in  this  subsection,  against  the  tax
    24  imposed  by this article for each disabled person hired during a taxable
    25  year, provided that such disabled person  is  employed  for  thirty-five
    26  hours  or  more  per week and remains in the employ of such taxpayer for
    27  twelve months or more.
    28    (2) Amount of credit. A credit authorized by this section shall  equal
    29  five  thousand  dollars  per  hired disabled person but shall not exceed
    30  twenty-five thousand dollars.
    31    (3) Carryovers. The  credit  allowed  under  this  subsection  may  be
    32  claimed  and  if not fully used in the initial year for which the credit
    33  is claimed may be carried over, in order, to each of the five succeeding
    34  taxable years. The credit authorized by this subsection may not be  used
    35  to reduce the tax liability of the credit claimant below zero.
    36    (4)  Definitions.  As  used  in  this  subsection,  the term "disabled
    37  person" shall mean a person who suffers from  any  physical,  mental  or
    38  medical  impairment resulting from anatomical, physiological, genetic or
    39  neurological conditions which prevents the exercise of a  normal  bodily
    40  function or is demonstrable by medically accepted clinical or laboratory
    41  diagnostic techniques.
    42    (5)  Aggregate  amount.  The  aggregate  amount of tax credits allowed
    43  pursuant to the authority of this subsection and subdivision fifty-three
    44  of section two hundred ten-B of  this  chapter  shall  be  five  million
    45  dollars  each year. Such aggregate amounts of credits shall be allocated
    46  by the commissioner. If the total amount of  allocated  credits  applied
    47  for  in  any particular year exceeds the aggregate amount of tax credits
    48  allowed for such year under this section, such excess shall  be  treated
    49  as having been applied for on the first day of the subsequent year.
    50    (6)  Claim  of  credit.  A taxpayer shall not be allowed to claim this
    51  credit to the extent the basis of the calculation  of  this  credit  has
    52  been claimed for another tax credit under this chapter.
    53    § 4. This act shall take effect immediately and shall apply to taxable
    54  years  beginning  on  or  after  January 1, 2019 and shall expire and be
    55  deemed repealed December 31, 2024.