S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2352

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 14, 2013
                               ___________

Introduced  by  M.  of  A.  SCARBOROUGH -- read once and referred to the
  Committee on Ways and Means

AN ACT to amend the tax law, in relation  to  establishing  a  returning
  heroes tax credit for businesses that hire veterans returning from war

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 210 of the tax law  is  amended  by  adding  a  new
subdivision 46 to read as follows:
  46.  RETURNING  HEROES  TAX  CREDIT.  (A) GENERAL. A TAXPAYER SHALL BE
ALLOWED A CREDIT, TO  BE  COMPUTED  AS  PROVIDED  IN  THIS  SUBDIVISION,
AGAINST  THE  TAX  IMPOSED  BY  THIS ARTICLE FOR EACH VETERAN OR WOUNDED
VETERAN HIRED DURING A TAXABLE  YEAR,  PROVIDED  THAT  SUCH  VETERAN  OR
WOUNDED  VETERAN  IS EMPLOYED FOR THIRTY-FIVE HOURS OR MORE PER WEEK AND
REMAINS IN THE EMPLOY OF SUCH TAXPAYER FOR TWELVE MONTHS OR MORE.
  (B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
TWO THOUSAND FOUR HUNDRED DOLLARS PER HIRED SHORT-TERM UNEMPLOYED VETER-
AN,  FOUR  THOUSAND EIGHT HUNDRED DOLLARS PER HIRED LONG-TERM UNEMPLOYED
VETERAN, FOUR THOUSAND EIGHT HUNDRED DOLLARS PER HIRED SHORT-TERM  UNEM-
PLOYED  WOUNDED  VETERAN AND NINE THOUSAND SIX HUNDRED DOLLARS PER HIRED
LONG-TERM UNEMPLOYED VETERAN  BUT  SHALL  NOT  EXCEED  FIFTEEN  THOUSAND
DOLLARS.
  (C)  CARRYOVERS.  THE  CREDIT  ALLOWED  UNDER  THIS SUBDIVISION MAY BE
CLAIMED AND IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH  THE  CREDIT
IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
  (D)  DEFINITIONS.  AS  USED  IN  THIS SUBDIVISION, THE FOLLOWING TERMS
SHALL HAVE THE FOLLOWING MEANINGS:
  (I) "LONG-TERM UNEMPLOYED" SHALL MEAN A VETERAN, AS  DEFINED  PURSUANT
TO  SUBPARAGRAPH  (III)  OF THIS PARAGRAPH, THAT HAS BEEN UNEMPLOYED FOR
LONGER THAN SIX MONTHS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02748-01-3
              

A. 2352                             2

  (II) "SHORT-TERM UNEMPLOYED" SHALL MEAN A VETERAN, AS DEFINED PURSUANT
TO SUBPARAGRAPH (III) OF THIS PARAGRAPH, THAT HAS  BEEN  UNEMPLOYED  FOR
LONGER THAN FOUR WEEKS, BUT NO LONGER THAN SIX MONTHS.
  (III) "VETERAN" SHALL MEAN A PERSON WHO SERVED IN THE ACTIVE MILITARY,
NAVAL,  OR AIR SERVICE DURING A PERIOD OF WAR, OR WHO WAS A RECIPIENT OF
THE ARMED FORCES EXPEDITIONARY MEDAL, NAVY EXPEDITIONARY  MEDAL,  MARINE
CORPS  EXPEDITIONARY  MEDAL,  OR  GLOBAL  WAR ON TERRORISM EXPEDITIONARY
MEDAL, AND WHO WAS DISCHARGED  OR  RELEASED  THEREFROM  UNDER  HONORABLE
CONDITIONS.
  (IV)  "WOUNDED  VETERAN"  SHALL MEAN A VETERAN, AS DEFINED PURSUANT TO
SUBPARAGRAPH (III) OF THIS PARAGRAPH, WHO SUSTAINED A SERVICE  CONNECTED
DISABILITY  AS  CERTIFIED BY THE FEDERAL VETERAN'S ADMINISTRATION OR THE
UNITED STATES DEPARTMENT OF DEFENSE, WHERE SUCH DISABILITY WAS  INCURRED
IN THE LINE OF DUTY IN ACTIVE MILITARY, NAVAL OR AIR SERVICE.
  S  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a  new  clause  (xxxv)  to  read  as
follows:
(XXXV) RETURNING VETERAN TAX         COSTS UNDER SUBDIVISION
CREDIT UNDER SUBSECTION (VV)         FORTY-SIX OF SECTION
                                     TWO HUNDRED TEN
  S  3. Section 606 of the tax law is amended by adding a new subsection
(vv) to read as follows:
  (VV) RETURNING HEROES TAX CREDIT. (1) GENERAL.  A  TAXPAYER  SHALL  BE
ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBSECTION, AGAINST
THE  TAX  IMPOSED  BY  THIS  ARTICLE FOR EACH VETERAN OR WOUNDED VETERAN
HIRED DURING A TAXABLE YEAR,  PROVIDED  THAT  SUCH  VETERAN  OR  WOUNDED
VETERAN  IS  EMPLOYED FOR THIRTY-FIVE HOURS OR MORE PER WEEK AND REMAINS
IN THE EMPLOY OF SUCH TAXPAYER FOR TWELVE MONTHS OR MORE.
  (2) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
TWO THOUSAND FOUR HUNDRED DOLLARS PER HIRED SHORT-TERM UNEMPLOYED VETER-
AN,  FOUR  THOUSAND EIGHT HUNDRED DOLLARS PER HIRED LONG-TERM UNEMPLOYED
VETERAN, FOUR THOUSAND EIGHT HUNDRED DOLLARS PER HIRED SHORT-TERM  UNEM-
PLOYED  WOUNDED  VETERAN AND NINE THOUSAND SIX HUNDRED DOLLARS PER HIRED
LONG-TERM UNEMPLOYED VETERAN  BUT  SHALL  NOT  EXCEED  FIFTEEN  THOUSAND
DOLLARS.
  (3)  CARRYOVERS.  THE  CREDIT  ALLOWED  UNDER  THIS  SUBSECTION MAY BE
CLAIMED AND IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH  THE  CREDIT
IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
TAXABLE  YEARS. THE CREDIT AUTHORIZED BY THIS SUBSECTION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
  (4) DEFINITIONS. AS USED IN THIS SUBSECTION, THE FOLLOWING TERMS SHALL
HAVE THE FOLLOWING MEANINGS:
  (A) "LONG-TERM UNEMPLOYED" SHALL MEAN A VETERAN, AS  DEFINED  PURSUANT
TO  SUBPARAGRAPH  (C)  OF  THIS  PARAGRAPH, THAT HAS BEEN UNEMPLOYED FOR
LONGER THAN SIX MONTHS.
  (B) "SHORT-TERM UNEMPLOYED" SHALL MEAN A VETERAN, AS DEFINED  PURSUANT
TO  SUBPARAGRAPH  (C)  OF  THIS  PARAGRAPH, THAT HAS BEEN UNEMPLOYED FOR
LONGER THAN FOUR WEEKS, BUT NO LONGER THAN SIX MONTHS.
  (C) "VETERAN" SHALL MEAN A PERSON WHO SERVED IN THE  ACTIVE  MILITARY,
NAVAL,  OR AIR SERVICE DURING A PERIOD OF WAR, OR WHO WAS A RECIPIENT OF
THE ARMED FORCES EXPEDITIONARY MEDAL, NAVY EXPEDITIONARY  MEDAL,  MARINE
CORPS  EXPEDITIONARY  MEDAL,  OR  GLOBAL  WAR ON TERRORISM EXPEDITIONARY
MEDAL, AND WHO WAS DISCHARGED  OR  RELEASED  THEREFROM  UNDER  HONORABLE
CONDITIONS.
  (D)  "WOUNDED  VETERAN"  SHALL  MEAN A VETERAN, AS DEFINED PURSUANT TO
SUBPARAGRAPH (C) OF THIS PARAGRAPH, WHO SUSTAINED  A  SERVICE  CONNECTED

A. 2352                             3

DISABILITY  AS  CERTIFIED BY THE FEDERAL VETERAN'S ADMINISTRATION OR THE
UNITED STATES DEPARTMENT OF DEFENSE, WHERE SUCH DISABILITY WAS  INCURRED
IN THE LINE OF DUTY IN THE ACTIVE MILITARY, NAVAL OR AIR SERVICE.
  S 4. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2014.