STATE OF NEW YORK
________________________________________________________________________
2526
2023-2024 Regular Sessions
IN SENATE
January 23, 2023
___________
Introduced by Sen. HELMING -- read twice and ordered printed, and when
printed to be committed to the Committee on Commerce, Economic Devel-
opment and Small Business
AN ACT to amend the economic development law, in relation to the employ-
ee training incentive program
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 3 of section 443 of the economic development
2 law, as added by section 1 of part O of chapter 59 of the laws of 2015,
3 is amended to read as follows:
4 3. The commissioner may approve an application from a business entity
5 upon determining that such business entity meets the eligibility crite-
6 ria established in section four hundred forty-two of this article.
7 Following approval by the commissioner of an application by a business
8 entity to participate in the employee training incentive program, the
9 commissioner shall issue a certificate of tax credit to the business
10 entity upon its demonstrating successful completion of such eligible
11 training to the satisfaction of the commissioner. For eligible training
12 as defined by paragraph (a) of subdivision three of section four hundred
13 forty-one of this article the amount of the credit shall be equal to
14 [fifty] seventy percent of eligible training costs, up to a credit of
15 ten thousand dollars per employee receiving eligible training. For
16 eligible training as defined by paragraph (b) of subdivision three of
17 section four hundred forty-one of this article, the amount of the credit
18 shall be equal to fifty percent of the stipend paid to an intern, up to
19 a credit of three thousand dollars per intern. The tax credits shall be
20 claimed by the qualified employer as specified in subdivision fifty of
21 section two hundred ten-B and subsection (ddd) of section six hundred
22 six of the tax law.
23 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD04923-01-3
