Bill S1211-2013

Enacts the hire veterans now act

Enacts the "hire veterans now act", which establishes a tax credit for employers who hire certain veterans for a period of one year.

Details

Actions

  • Apr 17, 2013: RECOMMIT, ENACTING CLAUSE STRICKEN
  • Jan 9, 2013: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Memo

BILL NUMBER:S1211

TITLE OF BILL: An act to amend the tax law, in relation to enacting the "hire veterans now act"; and providing for the repeal of such provisions upon expiration thereof

PURPOSE OR GENERAL IDEA OF BILL: This bill would incentivize employers to hire unemployed veterans

SUMMARY OF SPECIFIC PROVISIONS: This act will be known as the "hire veterans now act."

The bill will provide a tax credit to an employer for hiring and retaining a qualified individual. A qualified individual is defined as a resident of the state who is a veteran, begins.employment after January 1,2013 and before January 1,2014, has been unemployed for sixty days prior to start of employment and is not employed to replace another employee. An employer will receive a tax credit of 51,000 per retained worker. A "retained worker" is a qualified individual who was employed during the taxable year, was employed for no less than 52 consecutive weeks, was employed full time. not less than 35 hours a week during the fifty-two consecutive weeks period and whose wages during the last 25weeks equal at least 30% of the wages for the first 26 weeks.

JUSTIFICATION: With the economy still recovering many Americans are still unemployed and are struggling to find jobs. According to the New York state Department of Labor, as of September 2011, the unemployment rate was 3.0% for New York however, have an even higher unemployment rate. The US Department of Labor website released that as of October 2011, the unemployment rate for veterans who served from 2001-present is around 12.1%, much higher than the nation's unemployment rate,As more service members return from the Iraq and Afghanistan wars this number may increase even more. We must find a way to put New York's veterans back to work. This bill will incentivize employers to hire unemployed veterans by providing a tax credit to employers who hire and retain an unemployed veteran. Veterans have risked their lives for our freedom; we must ensure that these courageous service members have employment opportunities when they return home from war.

PRIOR LEGISLATIVE HISTORY: 2012: A.9592 - Died in Ways and Means/S.6190 - Died in Investigations and Government Operations.

FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE: The bill takes effect on the sixtieth day after it shall become law and applies to the taxable years commencing on or after January 1, 2013 and shall expire January 1. 2015.


Text

STATE OF NEW YORK ________________________________________________________________________ 1211 2013-2014 Regular Sessions IN SENATE (PREFILED) January 9, 2013 ___________
Introduced by Sen. CARLUCCI -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to enacting the "hire veterans now act"; and providing for the repeal of such provisions upon expira- tion thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. This act shall be known and may be cited as the "hire veterans now act". S 2. Section 210 of the tax law is amended by adding a new subdivision 24-a to read as follows: 24-A. CREDIT FOR HIRING UNEMPLOYED VETERANS. (A) A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS HEREINAFTER PROVIDED, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR HIRING QUALIFIED INDIVIDUALS AND FOR THE RETENTION OF SUCH INDIVIDUALS FOR A PERIOD OF ONE YEAR. (B) FOR PURPOSES OF THIS SUBDIVISION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (1) "QUALIFIED EMPLOYER" MEANS ANY EMPLOYER OTHER THAN THE FEDERAL, STATE OR LOCAL GOVERNMENT OR ANY INSTRUMENTALITY THEREOF; (2) "QUALIFIED INDIVIDUAL" MEANS ANY INDIVIDUAL RESIDING IN THIS STATE WHO: (A) IS A VETERAN AS DEFINED IN SUBDIVISION THREE OF SECTION THREE HUNDRED FIFTY OF THE EXECUTIVE LAW; (B) BEGINS EMPLOYMENT WITH A QUALIFIED EMPLOYER AFTER JANUARY FIRST, TWO THOUSAND THIRTEEN AND BEFORE JANUARY FIRST, TWO THOUSAND FOURTEEN; (C) CERTIFIES BY A SIGNED AFFIDAVIT, UNDER THE PENALTIES OF PERJURY, THAT SUCH INDIVIDUAL HAS NOT BEEN EMPLOYED FOR MORE THAN FORTY HOURS DURING THE SIXTY DAY PERIOD ENDING ON THE DATE SUCH INDIVIDUAL BEGINS SUCH EMPLOYMENT; AND
(D) IS NOT EMPLOYED BY THE QUALIFIED EMPLOYER TO REPLACE ANOTHER EMPLOYEE OF SUCH EMPLOYER UNLESS SUCH OTHER EMPLOYEE SEPARATED FROM EMPLOYMENT VOLUNTARILY OR FOR CAUSE; (3) "RETAINED WORKER" MEANS ANY QUALIFIED INDIVIDUAL: (A) WHO WAS EMPLOYED BY THE TAXPAYER ON ANY DATE DURING THE TAXABLE YEAR; (B) WHO WAS SO EMPLOYED BY THE TAXPAYER FOR A PERIOD OF NOT LESS THAN FIFTY-TWO CONSECUTIVE WEEKS; (C) WAS EMPLOYED FULL TIME, NOT LESS THAN THIRTY-FIVE HOURS A WEEK DURING THE FIFTY-TWO CONSECUTIVE WEEKS PERIOD; AND (D) WHOSE WAGES FOR SUCH EMPLOYMENT DURING THE LAST TWENTY-SIX WEEKS OF SUCH PERIOD EQUALED AT LEAST EIGHTY PERCENT OF SUCH WAGES FOR THE FIRST TWENTY-SIX WEEKS FOR SUCH PERIOD. (C) THE AMOUNT OF THE CREDIT SHALL BE ONE THOUSAND DOLLARS PER RETAINED WORKER. THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXA- BLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE HIGHER OF THE AMOUNTS PRESCRIBED IN PARAGRAPHS (C) AND (D) OF SUBDIVI- SION ONE OF THIS SECTION. PROVIDED, HOWEVER, THAT IF THE AMOUNT OF CRED- IT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS. S 3. 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) CREDIT FOR HIRING AMOUNT OF CREDIT UNDER SUBDIVISION UNEMPLOYED VETERANS TWENTY-FOUR-A OF SECTION TWO HUNDRED TEN OR SUBSECTION (J-1) OF SECTION FOURTEEN HUNDRED FIFTY-SIX S 4. Section 606 of the tax law is amended by adding a new subsection (s-1) to read as follows: (S-1) CREDIT FOR HIRING UNEMPLOYED VETERANS. A TAXPAYER SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR THE HIRING OF QUALIFIED INDIVIDUALS, AS DEFINED IN SUBDIVISION TWENTY-FOUR-A OF SECTION TWO HUNDRED TEN OF THIS CHAPTER AND THE RETENTION OF SUCH INDIVIDUALS FOR A PERIOD OF ONE YEAR. THE AMOUNT OF THE CREDIT SHALL BE ONE THOUSAND DOLLARS PER RETAINED WORKER. IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBSECTION SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS. S 5. Section 1456 of the tax law is amended by adding a new subsection (j-1) to read as follows: (J-1) CREDIT FOR HIRING UNEMPLOYED VETERANS. A TAXPAYER SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR THE HIRING OF QUALIFIED INDIVIDUALS, AS DEFINED IN SUBDIVISION TWENTY-FOUR-A OF SECTION TWO HUNDRED TEN OF THIS CHAPTER AND THE RETENTION OF SUCH INDIVIDUALS FOR A PERIOD OF ONE YEAR. THE AMOUNT OF THE CREDIT SHALL BE ONE THOUSAND DOLLARS PER RETAINED WORKER. THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX TO LESS THAN THE DOLLAR AMOUNT FIXED AS A MINIMUM TAX BY SUBSECTION (B) OF SECTION FOURTEEN HUNDRED FIFTY-FIVE OF THIS ARTICLE. IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, THE EXCESS MAY BE CARRIED OVER TO
THE FOLLOWING YEAR OR YEARS, AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS. S 6. Section 1511 of the tax law is amended by adding a new subdivi- sion (cc) to read as follows: (CC) CREDIT FOR HIRING UNEMPLOYED VETERANS. (1) A TAXPAYER SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR THE HIRING OF QUALIFIED INDIVIDUALS, AS DEFINED IN SUBDIVISION TWENTY-FOUR-A OF SECTION TWO HUNDRED TEN OF THIS CHAPTER AND THE RETENTION OF SUCH INDIVIDUALS FOR A PERIOD OF ONE YEAR. THE AMOUNT OF THE CREDIT SHALL BE ONE THOUSAND DOLLARS PER RETAINED WORKER. (2) THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX TO LESS THAN THE MINIMUM TAX FIXED BY THIS ARTICLE. HOWEVER, IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS SUBDIVI- SION FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT THUS NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS. S 7. This act shall take effect on the sixtieth day after it shall have become a law and shall apply to taxable years commencing on or after January 1, 2013; provided however, that this act shall expire January 1, 2015 when upon such date the provisions of this act shall be deemed repealed.

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