Assembly Bill A391A

2015-2016 Legislative Session

Establishes a small business tax credit for the employment of unemployed veterans

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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

co-Sponsors

2015-A391 - Details

See Senate Version of this Bill:
S4548
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A10155
2013-2014: A1800
2017-2018: A2627, S3252
2019-2020: S4708
2021-2022: S5282

2015-A391 - Summary

Establishes a small business tax credit for the employment of unemployed veterans.

2015-A391 - Bill Text download pdf

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

                                   391

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2015
                               ___________

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

AN ACT to amend the tax law, in relation to establishing a  small  busi-
  ness tax credit for the employment of unemployed veterans

  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 49 to read as follows:
  49.  SMALL  BUSINESS  TAX CREDIT; UNEMPLOYED VETERANS.  (A) GENERAL. A
TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
IT, TO BE COMPUTED AS PROVIDED IN  THIS  SUBDIVISION,  AGAINST  THE  TAX
IMPOSED BY THIS ARTICLE FOR EACH UNEMPLOYED VETERAN HIRED DURING A TAXA-
BLE  YEAR, PROVIDED THAT SUCH UNEMPLOYED 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
FIVE THOUSAND DOLLARS PER HIRED UNEMPLOYED VETERAN BUT SHALL NOT  EXCEED
TWENTY-FIVE 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 TERM "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 EXPEDITION-
ARY MEDAL, OR GLOBAL WAR ON TERRORISM EXPEDITIONARY MEDAL, AND  WHO  WAS
DISCHARGED OR RELEASED THEREFROM UNDER HONORABLE CONDITIONS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00601-01-5
              

co-Sponsors

2015-A391A (ACTIVE) - Details

See Senate Version of this Bill:
S4548
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A10155
2013-2014: A1800
2017-2018: A2627, S3252
2019-2020: S4708
2021-2022: S5282

2015-A391A (ACTIVE) - Summary

Establishes a small business tax credit for the employment of unemployed veterans.

2015-A391A (ACTIVE) - Bill Text download pdf

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

                                 391--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by  M.  of  A.  SKARTADOS, LAVINE, BRABENEC -- read once and
  referred to the Committee on Ways and  Means  --  recommitted  to  the
  Committee on Ways and Means in accordance with Assembly Rule 3, sec. 2
  --  committee  discharged,  bill amended, ordered reprinted as amended
  and recommitted to said committee

AN ACT to amend the tax law, in relation to establishing a  small  busi-
  ness tax credit for the employment of unemployed veterans

  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 49 to read as follows:
  49.  SMALL  BUSINESS  TAX CREDIT; UNEMPLOYED VETERANS.  (A) GENERAL. A
TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
IT, TO BE COMPUTED AS PROVIDED IN  THIS  SUBDIVISION,  AGAINST  THE  TAX
IMPOSED BY THIS ARTICLE FOR EACH UNEMPLOYED VETERAN HIRED DURING A TAXA-
BLE  YEAR, PROVIDED THAT SUCH UNEMPLOYED 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
FIVE THOUSAND DOLLARS PER HIRED UNEMPLOYED VETERAN BUT SHALL NOT  EXCEED
TWENTY-FIVE 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 TERM "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 EXPEDITION-

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

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