Relates to offering a tax credit to employers who pay for their employees to acquire an associate of applied science in computer security from a SUNY or CUNY school.
STATE OF NEW YORK
________________________________________________________________________
8674
2017-2018 Regular Sessions
IN ASSEMBLY
September 25, 2017
___________
Introduced by M. of A. MOSLEY -- read once and referred to the Committee
on Ways and Means
AN ACT to amend the tax law, in relation to offering a tax credit to
employers who pay for their employees to acquire an associate of
applied science in computer security from a SUNY or CUNY school
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. Employee cyber security education credit. (a) For purposes of this
4 subdivision:
5 (i) "employee" shall mean a person who is a resident of New York state
6 who is employed by the taxpayer;
7 (ii) "education costs" shall mean tuition, fees, and the cost of
8 required books and materials;
9 (iii) "qualifying degree" shall mean an associate of applied science
10 degree with a major in cyber security; and
11 (iv) "qualifying school" shall mean any state university of New York
12 or city university of New York school who offers a qualifying degree as
13 defined in subparagraph (iii) of this paragraph.
14 (b) Allowance of credit. A taxpayer shall be allowed a credit, to be
15 computed as provided in paragraph (c) of this subdivision, against the
16 tax imposed by this article, if it provides for payment, on behalf of an
17 employee, of all education costs relating to receiving a qualifying
18 degree from a qualifying school.
19 (c) Amount of credit. The credit allowed pursuant to paragraph (b) of
20 this subdivision shall be in an amount equal to the taxpayer's payment,
21 on behalf of an employee, of education costs relating to receiving a
22 qualifying degree from a qualifying school. Provided, however, that no
23 such credit allowed under this subdivision shall exceed five thousand
24 dollars for each such employee employed by such taxpayer.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13386-01-7
A. 8674 2
1 (d) Application of credit. The credit allowed under this subdivision
2 for any taxable year shall not reduce the tax due for such year to less
3 than the amount prescribed in paragraph (d) of subdivision one of
4 section two hundred ten of this article. If, however, the amount of
5 credits allowed under this subdivision for any taxable year reduces the
6 tax to such amount, any amount of credit thus not deductible in such
7 taxable year shall be treated as an overpayment of tax to be credited or
8 refunded in accordance with the provisions of section one thousand
9 eighty-six of this chapter. Provided, however, the provisions of
10 subsection (c) of section one thousand eighty-eight of this chapter
11 notwithstanding, no interest shall be paid thereon.
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) Employee cyber securityAmount of credit
16 education creditunder subdivision
17 under subsection (iii)fifty-three of section
18 two hundred ten-B
19 § 3. Section 606 of the tax law is amended by adding a new subsection
20 (iii) to read as follows:
21 (iii) Employee cyber security education credit. (1) For purposes of
22 this subsection:
23 (A) "employee" shall mean a person who is a resident of New York state
24 who is employed by the taxpayer;
25 (B) "education costs" shall mean tuition, fees, and the cost of
26 required books and materials;
27 (C) "qualifying degree" shall mean an associate of applied science
28 degree with a major in cyber security; and
29 (D) "qualifying school" shall mean any state university of New York or
30 city university of New York school who offers a qualifying degree as
31 defined in subparagraph (C) of this paragraph.
32 (2) Allowance of credit. A taxpayer shall be allowed a credit, to be
33 computed as provided in paragraph three of this subsection, against the
34 tax imposed by this article, if it provides for payment, on behalf of an
35 employee, of all education costs relating to receiving a qualifying
36 degree from a qualifying school.
37 (3) Amount of credit. The credit allowed pursuant to paragraph two of
38 this subsection shall be in an amount equal to the taxpayer's payment,
39 on behalf of an employee, of education costs relating to receiving a
40 qualifying degree from a qualifying school. Provided, however, that no
41 such credit allowed under this subsection shall exceed five thousand
42 dollars for each such employee employed by such taxpayer.
43 (4) Application of credit. If the amount of the credit allowed under
44 this subsection for any taxable year shall exceed the taxpayer's tax for
45 such year, the excess shall be treated as an overpayment of tax to be
46 credited or refunded in accordance with the provisions of section six
47 hundred eighty-six of this article, provided, however, that no interest
48 shall be paid thereon.
49 § 4. This act shall take effect immediately and shall apply to taxable
50 years beginning on and after the first of January next succeeding the
51 date on which it shall have become a law.