Senate Bill S5573A

2015-2016 Legislative Session

Establishes the work opportunity tax credit for businesses with fifty employees or less for hiring a long term unemployed person

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Archive: Last Bill Status - In Senate Committee Finance Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

2015-S5573 - Details

Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: S1517
2019-2020: S2119
2021-2022: S637
2023-2024: S5846

2015-S5573 - Summary

Establishes the work opportunity tax credit for businesses with fifty employees or less for hiring a long term unemployed person.

2015-S5573 - Sponsor Memo

2015-S5573 - Bill Text download pdf

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

                                  5573

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              May 14, 2015
                               ___________

Introduced  by  Sen.  AVELLA -- 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 establishing the work oppor-
  tunity tax credit

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

  Section  1.  Section  210-B  of the tax law is amended by adding a new
subdivision 51 to read as follows:
  51. WORK OPPORTUNITY TAX CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT,
AGAINST THE TAX IMPOSED BY THIS ARTICLE, OF TWO  THOUSAND  FOUR  HUNDRED
DOLLARS  FOR  EACH  LONG  TERM  UNEMPLOYED PERSON HIRED DURING A TAXABLE
YEAR. SUCH TAX CREDIT SHALL BE APPLICABLE ONLY TO  BUSINESSES  EMPLOYING
FIFTY  OR FEWER EMPLOYEES. FOR THE PURPOSES OF THIS SUBDIVISION, A "LONG
TERM UNEMPLOYED PERSON" SHALL BE AN INDIVIDUAL WHO HAS BEEN  A  RESIDENT
OF  NEW YORK FOR THREE YEARS IMMEDIATELY PRECEDING HIRING AND WHO, PRIOR
TO BEING HIRED BY THE  BUSINESS  ELIGIBLE  FOR  THE  CREDIT  ESTABLISHED
PURSUANT  TO  THIS SUBDIVISION, HAD BEEN UNEMPLOYED AND RECEIVING PUBLIC
ASSISTANCE FOR SIX CONSECUTIVE MONTHS  OR  MORE,  AND  IS  RETAINED  FOR
FULL-TIME EMPLOYMENT BY SUCH BUSINESS FOR AT LEAST ONE YEAR.
  S  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding  a  new  clause  (xli)  to  read  as
follows:

(XLI) WORK OPPORTUNITY TAX CREDIT    AMOUNT OF CREDIT UNDER
UNDER SUBSECTION (CCC)               SUBDIVISION FIFTY-ONE OF
                                     SECTION TWO HUNDRED TEN-B

  S  3. Section 606 of the tax law is amended by adding a new subsection
(ccc) to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11010-01-5

              

2015-S5573A (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: S1517
2019-2020: S2119
2021-2022: S637
2023-2024: S5846

2015-S5573A (ACTIVE) - Summary

Establishes the work opportunity tax credit for businesses with fifty employees or less for hiring a long term unemployed person.

2015-S5573A (ACTIVE) - Sponsor Memo

2015-S5573A (ACTIVE) - Bill Text download pdf

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

                                 5573--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              May 14, 2015
                               ___________

Introduced  by  Sen.  AVELLA -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations -- recommitted to the Committee on Investigations  and
  Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN ACT to amend the tax law, in relation to establishing the work oppor-
  tunity tax credit

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

  Section 1. Section 210-B of the tax law is amended  by  adding  a  new
subdivision 51 to read as follows:
  51. WORK OPPORTUNITY TAX CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT,
AGAINST  THE  TAX  IMPOSED BY THIS ARTICLE, OF TWO THOUSAND FOUR HUNDRED
DOLLARS FOR EACH LONG TERM UNEMPLOYED  PERSON  HIRED  DURING  A  TAXABLE
YEAR.  SUCH  TAX CREDIT SHALL BE APPLICABLE ONLY TO BUSINESSES EMPLOYING
FIFTY OR FEWER EMPLOYEES. FOR THE PURPOSES OF THIS SUBDIVISION, A  "LONG
TERM  UNEMPLOYED  PERSON" SHALL BE AN INDIVIDUAL WHO HAS BEEN A RESIDENT
OF NEW YORK FOR THREE YEARS IMMEDIATELY PRECEDING HIRING AND WHO,  PRIOR
TO  BEING  HIRED  BY  THE  BUSINESS  ELIGIBLE FOR THE CREDIT ESTABLISHED
PURSUANT TO THIS SUBDIVISION, HAD BEEN UNEMPLOYED AND  RECEIVING  PUBLIC
ASSISTANCE  FOR  SIX  CONSECUTIVE  MONTHS  OR  MORE, AND IS RETAINED FOR
FULL-TIME EMPLOYMENT BY SUCH BUSINESS FOR AT LEAST ONE YEAR.
  S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
of  the  tax  law  is  amended  by  adding a new clause (xli) to read as
follows:

(XLI) WORK OPPORTUNITY TAX CREDIT    AMOUNT OF CREDIT UNDER
UNDER SUBSECTION (CCC)               SUBDIVISION FIFTY-ONE OF
                                     SECTION TWO HUNDRED TEN-B

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11010-02-6

              

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