Establishes a five hundred dollar credit against income tax for nurses employed on a full-time basis for not less than six months and nurses teaching at institutions of higher education on and after January 1, 2024.
STATE OF NEW YORK
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5803
2023-2024 Regular Sessions
IN SENATE
March 16, 2023
___________
Introduced by Sen. GALLIVAN -- read twice and ordered printed, and when
printed to be committed to the Committee on Budget and Revenue
AN ACT to amend the tax law, in relation to establishing certain credits
against income tax for nurses
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 two new
2 subsections (ooo) and (ppp) to read as follows:
3 (ooo) Credit for full-time nurses. (1) Amount of credit. For taxable
4 years beginning on or after January first, two thousand twenty-four, a
5 taxpayer shall be allowed a credit against the tax imposed by this arti-
6 cle, where the taxpayer is licensed as a registered professional nurse
7 or licensed practical nurse pursuant to article one hundred thirty-nine
8 of the education law and has been employed on a full-time basis within
9 this state as a nurse for not less than six months during the taxable
10 year. The amount of such credit shall be five hundred dollars. For
11 purposes of this subsection, the term "employed on a full-time basis"
12 shall mean employment of not less than thirty hours per week.
13 (2) Application of credit. If the amount of credit allowed under this
14 subsection for any taxable year exceeds the taxpayer's tax for such
15 year, the excess will be treated as an overpayment to be credited or
16 refunded in accordance with the provisions of section six hundred eight-
17 y-six of this article, provided, however, that no interest will be paid
18 thereon.
19 (ppp) Credit for teaching nurses. (1) Amount of credit. For taxable
20 years beginning on or after January first, two thousand twenty-four, a
21 taxpayer shall be allowed a credit against the tax imposed by this arti-
22 cle, where the taxpayer is licensed as a registered professional nurse
23 or licensed practical nurse pursuant to article one hundred thirty-nine
24 of the education law and who teaches nursing at an institution of higher
25 education for not less than six months during the taxable year. The
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD06264-01-3
S. 5803 2
1 amount of such credit shall be five hundred dollars. For purposes of
2 this subsection, the term "institution of higher education" shall mean
3 any institution of higher education or business, trade, technical or
4 other occupational school, recognized and approved by the regents, or
5 any successor organization, of the university of the state of New York
6 or accredited by a nationally recognized accrediting agency or associ-
7 ation accepted as such by the regents, or any successor organization, of
8 the university of the state of New York, which provides a course of
9 study leading to the granting of a post-secondary degree, certificate or
10 diploma.
11 (2) Application of credit. If the amount of the credit allowed under
12 this subsection for any taxable year exceeds the taxpayer's tax for such
13 year, the excess will be treated as an overpayment to be credited or
14 refunded in accordance with the provisions of section six hundred eight-
15 y-six of this article, provided, however, that no interest will be paid
16 thereon.
17 § 2. This act shall take effect immediately.
