Provides a tax credit for newly hired SUNY college faculty members and administrators who are minorities and who have relocated to New York to work at a SUNY campus.
STATE OF NEW YORK
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5284
2019-2020 Regular Sessions
IN ASSEMBLY
February 8, 2019
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Introduced by M. of A. CRESPO -- Multi-Sponsored by -- M. of A. ARROYO,
DAVILA, DILAN, MOSLEY, PICHARDO, RAMOS, RIVERA, RODRIGUEZ -- read once
and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to providing a tax credit for
certain newly hired SUNY college faculty members and administrators
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 (jjj) to read as follows:
3 (jjj) Employee relocation; state university of New York campus credit.
4 (1) For taxable years beginning on January first, two thousand twenty-
5 one, a resident taxpayer who is a newly hired faculty member or adminis-
6 trator, who relocated to New York to work at a state university of New
7 York campus, and who is a minority, shall be allowed a credit against
8 the tax imposed by this article equal to thirty percent of his or her
9 gross income. Such qualified persons shall have been hired to work at
10 any state university campus excluding those campuses in Nassau, West-
11 chester and Putnam counties. For purposes of this section, the term
12 "newly hired" shall mean faculty members and administrators who are not
13 currently employed by the state university of New York.
14 (2) If the amount of the credit allowed under this subsection for any
15 taxable year shall exceed the taxpayer's tax for such year, the excess
16 shall be treated as an overpayment of tax to be credited or refunded in
17 accordance with the provisions of section six hundred eighty-six of this
18 article, provided, however, that no interest shall be paid thereon.
19 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08890-01-9
