This bill has been amended

Bill S4154-2011

Relates to providing a tax credit to businesses for qualified expenses relating to occupational wellness

Relates to providing a tax credit to businesses for qualified expenses relating to occupational wellness; provides such credit shall equal, up to one hundred dollars per employee and shall not exceed one hundred thousand dollars per employer, the amount paid by the taxpayer during the taxable year for qualified expenses relating to occupational wellness.

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  • Jan 4, 2012: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • Mar 21, 2011: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Memo

BILL NUMBER:S4154

TITLE OF BILL: An act to amend the tax law, in relation to providing an occupational wellness tax credit for businesses; and providing for the repeal of such provisions upon expiration thereof

PURPOSE: In the interest of the health and well being of individuals, and the collectivity of New York State as a whole, this legislation will grant qualified employers, that provide occupational wellness programs to their employees, a tax credit of up to $200 per year, per employee.

SUMMARY OF PROVISIONS: Section 1-- Details the legislative findings and intent relative to the value and benefit of occupational wellness programs to the overall health and well-being of individual employees and to the associated business or corporate enterprise offering such programs.

Section 2-- Details the application process, criteria and requirements pertaining to the prospective agreement between the Department of Health (hereinafter, the Department) and an applicant for an occupational wellness tax credit. Among other provisions, this section provides that the applicant applying for credit submit a detailed application to the Department, outlining the occupational wellness plan to be implemented including information relative to goals, costs, and expected results and benefits of the program. Requirements pertaining to the agreement for a tax credit between the Commissioner of the Department and the applicant are enumerated, including a maintenance of plan clause, a detailed reporting mechanism, a non-compliance with agreement clause, and limitation of the credit application to "qualified employees." This section further provides that the Commissioner of the Department award tax credits on a competitive basis, in writing, within 45 days of receiving an application. Requirements for application approval are provided, including a priority to small businesses in the amount of $10 Million in dedicated funding, a preference for "new programs," weighing the strength of the application and ensuring geographical diversity.

Section 3-- Amends Section 210 of the tax law by adding a new subdivision 22a, that establishes the occupational wellness tax credit. This section formally allows "taxpayers" a tax credit for providing an occupational wellness program to their employees. This section spells out the range of activities that fall under the definition of an occupational wellness program, that will qualify for the tax credit associated thereto. Specifically, this section provides that the Department shall determine the relevant components of an occupational wellness program, including, but not limited to provision of health and lifestyle education and information, conduction of health screenings and clinical testing, encouragement of fitness enhancement opportunities,

and provision of a formal Employee Assistance Program. This section further provides that the amount of credit to be allowed to a singular "taxpayer" for a given year shall not exceed two hundred dollars per employee, capped at an absolute maximum of ten thousand dollars per employer. The amount of credit issued to all "taxpayers" under this subdivision shall not exceed twenty million dollars annually.

Section 4-- Amends section 606 of the tax law by adding a new subsection (numbered hh) that will compute the amount of the occupational wellness tax credit, under subdivision 22-a of Section 210 of the tax law.

Section 5-- Establishes the same exact provisions in Section 606 of the tax law as provided for in Section 3 of the instant bill, amending Section 210 of the tax law. For more elucidation, see Section 3 above.

Section 6-- Clarifies that in addition to state funds appropriated for program purposes under this act, the Commissioner of the Department may accept grants from public or private sources to further the ends of the occupational wellness tax credit program. Allows the Commissioner of the Department to contract with independent organizations relative to the development of criteria for occupational wellness programs.

Section 7-- Requires the Commissioner of the Department to submit an annual report, concerning the occupational wellness program, to the Governor, Temporary President of the Senate and the Speaker of the Assembly.

Section 8-- Establishes the effective date of this act and provides a five year sunset provision.

JUSTIFICATION: Spiraling health care costs are a penultimate issue facing our state. Employers continually worry as the cost of providing health care increases to unprecedented levels. Chronic diseases, many of which can be ameliorated, if not prevented, by diet and exercise, result in disability and premature death. The average per capita spending on health care increased 99% between 1990 and 2002. In 2001, premiums for employer-sponsored health insurance increased by 11.0%. For reasons related to the fiscal, as well as physical well-being of New York State, the legislature must take an interest in and play an active role in keeping its workforce healthy.

Almost every American is adversely affected by chronic disease in one way or another--through the death of a loved one; a family member's struggle with lifelong illness, disability, or compromised quality of life; or the huge personal and societal financial toll wrought by chronic disease. More than 1.7 million Americans die of a chronic disease each year. The five chronic diseases are heart disease, stroke, diabetes, cancer, and chronic pulmonary diseases such as asthma, bronchitis and emphysema. One million Americans can no longer perform daily tasks, such as walking or bathing, without help due to a stroke. Expenditures for health care have continued to rise. Much of these costs can be attributed to the diagnosis and treatment of

chronic diseases and conditions such as diabetes, obesity; cardiovascular disease and asthma.

Although chronic diseases are among the most common and costly of all health problems, they are also among the mast preventable. Many of the disease Conditions responsible for skyrocketing expenditures can be traced back to modifiable risk factors. Individual behavior and lifestyle choices influence the development and course of these chronic Conditions. unhealthy behaviors, such as poor diet, lack of physical activity, and tobacco and alcohol use are risk factors for many chronic Conditions. For example, overweight and obesity are risk factors for type 2 diabetes, Congestive heart failure, stroke, and hypertension. Encouraging individuals to adopt healthy habits and have health screenings may reduce the burden of chronic disease. society and employers are increasingly designing programs to promote healthy behaviors. Companies are increasingly spending enormous amounts of money on health care and productivity when you start adding up the medical dollars, absenteeism, disability, workers compensation, and safety issues. Large employers such as Johnson & Johnson (J & J) and DuPont Corporation, among others, have reported the effectiveness of their occupational health promotion programs. Human capital is an employer's greatest investment toward business success. An occupational wellness program benefits employers by improving morale, reducing turnover, reducing absenteeism due to illness and injury, and decrease health insurance costs. J & J calculated a $225 per employee, per year savings in health care expenditures due to lower utilization of health care services. Furthermore, J & J saw results within three years. Other big companies such as Citibank, Steelcase Corporation of Michigan, United Airlines, Travelers Corporation, Motorola and DuPont all reported returns of $1.42-$16 for every dollar spent on employee wellness programs.

When companies promote wellness and healthy living to their employees, they can save on health care costs and reduce absenteeism. Studies demonstrate that the health of employees impacts a business's bottom line by helping companies reduce health care costs an average of $3.72 for each dollar invested. In addition, companies average $5.06 in reduced absenteeism for each dollar invested in a wellness program. These programs save companies money, boost productivity, and motivate employees.

A healthy employee with few health risks spends less money on medical care due to fewer chronic illnesses and avoidance of serious health incidents. On the other hand, poor health leads to symptoms and clinical outcomes that lower functionality and increase the need for expensive medical care. Absences from work leads to lost productivity, whereas healthy workers get the job done better, faster, and cheaper. Therefore, healthy employees not only cost less in medical care, they also are more functional at work, absent less often, experience fewer injuries, and return to work more quickly after illness or injury.

This bill would encourage employers to create occupational work and wellness programs by allowing tax credits for establishing such programs. A model program would include formal training as a component of job related instruction which provides information on

subjects relating to personal and family health levels, encourages opportunities for employees' fitness-related activities and provides incentives for employees who regularly engage in physical activity.

Despite the evidence that prevention works, the focus in our health care system over the past century has not been on prevention of chronic disease, but on a treatment of short-term, acute health problems. As a nation, we have emphasized expensive cures for disease rather than cost effective prevention.

With an employer-based health program that embraces prevention and healthy behavior, we can become a healthier nation. Evidence indicates that with education and social support, people can and will take charge of their health. The state must therefore support initiatives that focus on individual responsibility and behavior change related to health.

If we are serious about improving the health and quality of life of Americans, while lowering health care costs in the long term, we cannot afford to ignore the power of prevention.

LEGISLATIVE HISTORY: Senate 3835 of 2005-2006; Referred to Committee Senate 2595 of 2007-2008; Referred to Investigations and Government Operations

FISCAL IMPLICATIONS: Short-term, to be determined; Long-term, beneficial savings to the State.

LOCAL FISCAL IMPLICATIONS: None specifically noted, at present.

EFFECTIVE DATE: Immediately, with provisions.


Text

STATE OF NEW YORK ________________________________________________________________________ 4154 2011-2012 Regular Sessions IN SENATE March 21, 2011 ___________
Introduced by Sen. SMITH -- 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 providing an occupational wellness tax credit for businesses; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings and intent. The legislature hereby finds that healthier employees experience less absenteeism, greater productivity, better mental performance, and increased job satisfaction, performance and morale. The legislature hereby finds that occupational wellness programs directly prevent the leading causes of premature death and disability in the United States. Furthermore, the vital importance of this issue was recently crystallized by the United States Centers for Disease Control and Prevention (CDC) who earmarked $14 million to study occupational wellness programs. The legislature hereby finds that there is a significant state inter- est in encouraging a proactive approach to preventing illness and inju- ry, as opposed to the traditional reactive, sick-care method. A reorien- tation of our systematic approach to health care is exemplified by United States Senate Bill 2558, the Healthy Lifestyles and Prevention (HeLP) America Act of 2004 and New York State Senate Bill 5774-A of 1999-2000, The Wellness and Preventative Health Care Program. The legislature hereby finds that individual studies and evaluations of wellness programs have concluded that such endeavors have dual, rein- forcing, and parallel benefits. In the first instance, employees have become more fit, reduced obesity, lessened stress levels, quit smoking, and achieved other propitious outcomes. Secondarily, wellness programs
have increased overall productivity, economic viability, and reduced health care costs. The legislature hereby finds that encouragement of a healthy life- style, while accruing concrete benefits to employees and employers alike, in the final analysis -- empowers individuals, strengthens fami- lies, and promotes a greater quality of life. The legislature intends to ensconce the ethic of a healthy workforce into the fabric of our personal and professional lives, while realizing the tertiary benefits of savings on insurance premiums as the result of reducing the number and instance of health insurance and workers' compensation claims filed by employees. S 2. Agreement for tax credits; application, criteria and require- ments. 1. Application criteria. (a) The department of health shall promulgate an application form for taxpayers to apply for a credit established in subdivision 22-a of section 210 and subsection (ss) of section 606 of the tax law. The application form shall include all relevant information deemed necessary by the commissioner of health. (b) Application. An application submitted in writing to the commis- sioner of health shall include a detailed description of the wellness plan to be implemented. Such description shall include, but not be limited to, the purpose of the plan, target goals, type or nature of plan, estimated cost of plan, expected results and benefits and enunci- ation of a program coordinator as a liaison to the department of health. 2. Agreement. After receipt of an application pursuant to subdivision one of this section, the commissioner of health shall enter into an agreement with an applicant for a credit established in subdivision 22-a of section 210 and subsection (ss) of section 606 of the tax law. The agreement shall include, but not be limited to: (a) A requirement that such plan be maintained for the duration of the tax credit. (b) A requirement that the taxpayer shall annually report to the commissioner of health concerning the number of employees participating, costs, benefits, results and any other information the commissioner of health deems necessary to carry out the purposes of this act. (c) A non-compliance with agreement clause. If the commissioner of health determines that a taxpayer who has received credit is not comply- ing with the tax credit agreement, such commissioner shall, after giving the taxpayer an opportunity to remedy non-compliance, terminate the tax credit. (d) Requirements that specify that the credit can only be applied to qualified employees. The credit shall not apply to independent contrac- tors of the taxpayer. 3. Requirements. Tax credits shall be awarded by the commissioner of health on a competitive basis in writing within 45 days. Requirements for consideration shall include, but not be limited to: (a) A requirement that priority shall be given to small businesses. (b) A requirement that priority shall be given to new programs. (c) Tax credits shall be awarded on a competitive basis. The commis- sioner of health shall award tax credits on the basis of the strength of the applicants' proposals, as well as the goal of ensuring that wellness and preventive health care programs are distributed across the state. 4. Definitions. For the purposes of this section: (a) "Independent contractor" shall mean an employee who does not work directly under the auspices and purview of the business applying for the credit established in this act.
(b) "New program" shall mean a program in a business that did not have an existing wellness program prior to the effective date of this act. (c) "Qualified employee" shall mean an individual, excluding general executive officers, in the case of a corporation, employed for at least 35 hours per week and for at least one-half of the taxable year. Such employee shall reside in New York state or work in New York state but reside outside the state and shall not be an independent contractor. (d) "Small businesses" shall mean any corporation, limited liability company or partnership having 100 or less employees. (e) "Taxpayer" means any corporation or any partnership doing business for profit within the state of New York subject to tax under the tax law. S 3. Section 210 of the tax law is amended by adding a new subdivision 22-a to read as follows: 22-A. OCCUPATIONAL WELLNESS 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 PROVIDING AN OCCUPATIONAL WELLNESS PROGRAM TO ITS EMPLOYEES. (B) OCCUPATIONAL WELLNESS PROGRAM. AN OCCUPATIONAL WELLNESS PROGRAM IS A COORDINATED AND SYSTEMATIC ORGANIZATIONAL ENDEAVOR WHICH HELPS TO PROMOTE GOOD HEALTH, HELPS TO PREVENT OR MITIGATE ACUTE OR CHRONIC SICK- NESS OR DISEASE AND MINIMIZES ADVERSE HEALTH CONSEQUENCES DUE TO LIFE- STYLE. AN OCCUPATIONAL WELLNESS PROGRAM SHALL INCLUDE RELEVANT COMPO- NENTS, AS DETERMINED BY THE DEPARTMENT OF HEALTH, INCLUDING, BUT NOT LIMITED TO: (I) PROVIDING INFORMATION AND GUIDANCE ON SUBJECTS INCLUDING, BUT NOT LIMITED TO, PERSONAL AND FAMILY HEALTH, HEALTH EDUCATION, NUTRITION, PHYSICAL ACTIVITY, PREVENTIVE HEALTH CARE, STRESS MANAGEMENT, SMOKING CESSATION, ANGER MANAGEMENT, CONFLICT MANAGEMENT, ANXIETY, DEPRESSION, SLEEP DISORDERS, MOOD DISORDERS, LIFESTYLE PATTERNS, HEALTHY FOOD CHOIC- ES, OBESITY, SUBSTANCE ABUSE AND WEIGHT LOSS; (II) ASSESSING EMPLOYEE HEALTH LEVELS, INCLUDING, BUT NOT LIMITED TO, BIOMETRICS TESTING, HEALTH SCREENING TESTS, QUESTIONNAIRES AND CLINICAL TESTING; (III) ENCOURAGING OR PROVIDING INSTRUCTION IN AND OPPORTUNITY FOR FITNESS ENHANCEMENT ACTIVITIES, INCLUDING, BUT NOT LIMITED TO, AEROBIC EXERCISE, WEIGHT BEARING EXERCISE, YOGA, PILATES, MUSCLE STRETCHING OR MARTIAL ARTS; (IV) ENCOURAGING OR PROVIDING INCENTIVES FOR EMPLOYEES WHO REGULARLY ENGAGE IN PHYSICAL ACTIVITY AND PREVENTIVE HEALTH CARE, INCLUDING, BUT NOT LIMITED TO, HEALTH SCREENINGS OR MEMBERSHIPS WITH A FITNESS CENTER; OR (V) PROVIDING AN EMPLOYEE ASSISTANCE PROGRAM (EAP). FOR THE PURPOSE OF THIS SUBPARAGRAPH, "EMPLOYEE ASSISTANCE PROGRAM" SHALL MEAN A PROGRAM WHICH INCLUDES EARLY INTERVENTION STRATEGY AND COUNSELING FOR BOTH WORK AND PERSONAL PROBLEMS. AN EMPLOYEE ASSISTANCE PROGRAM SHALL OFFER PROGRAMS INCLUDING, BUT NOT LIMITED TO, COUNSELING TO EMPLOYEES WHO NEED HELP WITH ISSUES RELATED TO DRUGS, ALCOHOL, FINANCES, STRESS, FAMILY PROBLEMS AND OTHER PERSONAL PROBLEMS. (C) AMOUNT OF CREDIT. A CREDIT SHALL BE ALLOWED FOR THE AMOUNT OF EXPENDITURES FOR OCCUPATIONAL WELLNESS INCURRED BY AN EMPLOYER. THE AMOUNT OF CREDIT SHALL NOT EXCEED ONE HUNDRED DOLLARS PER EMPLOYEE FOR WHOM SUCH PROGRAMS HAVE BEEN PROVIDED DURING THE TAXABLE YEAR IN WHICH SUCH EXPENDITURES WERE MADE AND SHALL NOT EXCEED ONE HUNDRED THOUSAND DOLLARS PER EMPLOYER PER TAXABLE YEAR. TAXPAYERS SHALL BE REQUIRED TO REAPPLY FOR THE CREDIT ESTABLISHED BY THIS SUBDIVISION ON AN ANNUAL
BASIS. THE DEPARTMENT OF HEALTH SHALL ESTABLISH THE CRITERIA FOR WHICH TAXPAYERS SHALL RECEIVE SUCH CREDIT. THE DEPARTMENT OF HEALTH MAY CONTRACT WITH INDEPENDENT ORGANIZATIONS TO DEVELOP CRITERIA FOR WHICH TAXPAYERS SHALL RECEIVE SUCH CREDIT. THE AMOUNT OF CREDIT ISSUED TO ALL TAXPAYERS COMBINED UNDER THIS SUBDIVISION SHALL NOT EXCEED TWENTY MILLION DOLLARS ANNUALLY. FUNDS NOT DISPERSED IN A GIVEN YEAR SHALL CARRY OVER TO THE NEXT YEAR. (D) CARRYOVER. THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE 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, IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY NOT BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS, AND MAY NOT BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS. S 4. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 of the tax law is amended by adding a new clause (xxxii) to read as follows: (XXXII) OCCUPATIONAL WELLNESS AMOUNT OF CREDIT UNDER CREDIT UNDER SUBDIVISION TWENTY-TWO-A SUBSECTION (SS) OF SECTION TWO HUNDRED TEN S 5. Section 606 of the tax law is amended by adding a new subsection (ss) to read as follows: (SS) OCCUPATIONAL WELLNESS 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 PROVIDING AN OCCUPATIONAL WELLNESS PROGRAM TO ITS EMPLOYEES. (2) OCCUPATIONAL WELLNESS PROGRAM. AN OCCUPATIONAL WELLNESS PROGRAM IS A COORDINATED AND SYSTEMATIC ORGANIZATIONAL ENDEAVOR WHICH HELPS TO PROMOTE GOOD HEALTH, HELPS TO PREVENT OR MITIGATE ACUTE OR CHRONIC SICK- NESS OR DISEASE, AND MINIMIZES ADVERSE HEALTH CONSEQUENCES DUE TO LIFE- STYLE. AN OCCUPATIONAL WELLNESS PROGRAM SHALL INCLUDE RELEVANT COMPO- NENTS, AS DETERMINED BY THE DEPARTMENT OF HEALTH, INCLUDING, BUT NOT LIMITED TO: (A) PROVIDING INFORMATION AND GUIDANCE ON SUBJECTS INCLUDING, BUT NOT LIMITED TO, RELATING TO PERSONAL AND FAMILY HEALTH, HEALTH EDUCATION, NUTRITION, PHYSICAL ACTIVITY, PREVENTIVE HEALTH CARE, STRESS MANAGEMENT, SMOKING CESSATION, ANGER MANAGEMENT, CONFLICT MANAGEMENT, ANXIETY, DEPRESSION, SLEEP DISORDERS, MOOD DISORDERS, LIFESTYLE PATTERNS, HEALTHY FOOD CHOICES, OBESITY, SUBSTANCE ABUSE AND WEIGHT LOSS; (B) ASSESSING AND TARGETING PROGRAMS ADDRESSING EMPLOYEE HEALTH RISKS AND NEEDS, INCLUDING, BUT NOT LIMITED TO, BIOMETRICS TESTING, HEALTH SCREENING TESTS, QUESTIONNAIRES AND CLINICAL TESTING; (C) ENCOURAGING OR PROVIDING INSTRUCTION IN AND OPPORTUNITY FOR FITNESS ENHANCEMENT ACTIVITIES, INCLUDING, BUT NOT LIMITED TO, AEROBIC EXERCISE, WEIGHT BEARING EXERCISE, YOGA, PILATES, MUSCLE STRETCHING OR MARTIAL ARTS; (D) ENCOURAGING OR PROVIDING INCENTIVES FOR EMPLOYEES WHO REGULARLY ENGAGE IN PHYSICAL ACTIVITY AND PREVENTIVE HEALTH CARE, INCLUDING, BUT NOT LIMITED TO, HEALTH SCREENINGS OR MEMBERSHIP WITH A FITNESS CENTER; OR (E) PROVIDES AN EMPLOYEE ASSISTANCE PROGRAM (EAP). FOR THE PURPOSE OF THIS SUBPARAGRAPH, "EMPLOYEE ASSISTANCE PROGRAM" SHALL MEAN A PROGRAM WHICH INCLUDES EARLY INTERVENTION STRATEGY AND COUNSELING FOR BOTH WORK
AND PERSONAL PROBLEMS. AN EMPLOYEE ASSISTANCE PROGRAM SHALL OFFER PROGRAMS INCLUDING, BUT NOT LIMITED TO, COUNSELING TO EMPLOYEES WHO NEED HELP WITH ISSUES RELATED TO DRUGS, ALCOHOL, FINANCES, STRESS, FAMILY PROBLEMS AND OTHER PERSONAL PROBLEMS. (3) AMOUNT OF CREDIT. A CREDIT SHALL BE ALLOWED FOR THE AMOUNT OF EXPENDITURES FOR OCCUPATIONAL WELLNESS INCURRED BY AN EMPLOYER. THE AMOUNT OF CREDIT SHALL NOT EXCEED ONE HUNDRED DOLLARS PER EMPLOYEE FOR WHOM SUCH PROGRAMS HAVE BEEN PROVIDED DURING THE TAXABLE YEAR IN WHICH SUCH EXPENDITURES WERE MADE AND SHALL NOT EXCEED ONE HUNDRED THOUSAND DOLLARS PER EMPLOYER PER TAXABLE YEAR. TAXPAYERS SHALL BE REQUIRED TO REAPPLY FOR THE CREDIT ESTABLISHED BY THIS SUBSECTION ON AN ANNUAL BASIS. THE DEPARTMENT OF HEALTH SHALL ESTABLISH THE CRITERIA FOR WHICH TAXPAYERS SHALL RECEIVE SUCH CREDIT. THE DEPARTMENT OF HEALTH MAY CONTRACT WITH INDEPENDENT ORGANIZATIONS TO DEVELOP CRITERIA FOR WHICH TAXPAYERS SHALL RECEIVE SUCH CREDIT. THE AMOUNT OF CREDIT ISSUED TO ALL TAXPAYERS COMBINED UNDER THIS SUBSECTION SHALL NOT EXCEED TWENTY MILLION DOLLARS ANNUALLY. FUNDS NOT DISPERSED IN A GIVEN FISCAL YEAR SHALL CARRY OVER TO THE NEXT FISCAL YEAR. (4) CARRYOVER. IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH TAX YEAR, THE EXCESS MAY NOT BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS, AND MAY NOT BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS. S 6. Additional funding. In addition to state funds appropriated for programs under this act, the commissioner of health may accept grants from public or private sources for the program established by this act. The commissioner of health may contract with independent organizations to develop criteria regarding occupational wellness programs. S 7. Reporting requirement. The commissioner of health shall submit an annual report to the governor, the temporary president of the senate, and the speaker of the assembly. Such report shall include an evaluation of how the occupational wellness programs and credits established by this act are functioning and whether this act has been successful in getting more businesses to create occupational wellness programs. S 8. This act shall take effect immediately and shall apply to taxable years beginning on and after the first of January next succeeding the date on which it shall have become a law; provided that the provisions of this act shall expire and be deemed repealed 5 years after such effective date.

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