NY State Senate Bill 2023-S4841

Senate Bill S4841

2023-2024 Legislative Session

Creates a jobs development incentive income tax credit available to employers who employ individuals previously receiving unemployment

download bill text pdf

Current Bill Status - In Senate Committee Budget And Revenue 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

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2024	referred to budget and revenue
Feb 15, 2023	referred to budget and revenue

co-Sponsors

2023-S4841 (ACTIVE) - Details

Current Committee:: Senate Budget And Revenue
Law Section:: Tax Law
Laws Affected:: Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:: 2009-2010: S5264
2011-2012: S3999
2013-2014: S2117
2015-2016: S3701
2017-2018: S3783
2019-2020: S4857
2021-2022: S5141

2023-S4841 (ACTIVE) - Summary

Creates a jobs development incentive income tax credit available to employers who employ individuals previously receiving unemployment.

2023-S4841 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S4841

SPONSOR: ASHBY
 
TITLE OF BILL:

An act to amend the tax law, in relation to a jobs development incentive
income tax credit available to employers who employ individuals previ-
ously receiving unemployment benefits

 
PURPOSE:

This bill would give incentives, through income tax credits, to busi-
nesses who hire individuals currently receiving unemployment benefits.

 
SUMMARY OF PROVISIONS:

Section 1, 2 and 3 - amends various sections of both the Corporate Fran-
chise Tax and the Personal Income Tax laws to grant employers incentive
tax credits for hiring people who are currently receiving unemployment
benefits. The credit would equal $2,400 for each creditable employee, as
defined in the section.

Section 4 - Effective date.

 
JUSTIFICATION:

During this COVID-19 economic recovery process, it is imperative the
state acts to help employers increase their workforce, and to help
return unemployed individuals to work. This bill accomplishes both of
these purposes by offering tax credits of up to $2,400 per employee to
employers- whether corporate, individual or an S corporation- for hiring
unemployed persons who meet specified criteria.

 
LEGISLATIVE HISTORY:

2009-10: S.5264-B-referred to Labor

2011: S.3999- referred to Investigations and Government Ops

2012: S.3999- Passed Senate; died in Assembly labor

2013-14: S.2117- referred to Investigations and Government Ops

2015: S. 3701-passed Senate; died in Assembly labor

2016: S.3701- referred to Investigations and Government Ops

2017-18: S.3783- referred to Investigations and Government Ops

2018-19: S.4857- referred to Budget and Revenues.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2023-S4841 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4841
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 15, 2023
                                ___________
 
 Introduced  by  Sen.  ASHBY  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law, in relation to a jobs development incentive
   income tax credit available to employers who employ individuals previ-
   ously receiving unemployment benefits

   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 59 to read as follows:
   59. JOBS DEVELOPMENT INCENTIVE TAX CREDIT. (A)  A  TAXPAYER  SHALL  BE
 ALLOWED  A  CREDIT,  TO BE COMPUTED AS HEREINAFTER PROVIDED, AGAINST THE
 TAX IMPOSED BY THIS ARTICLE IN THE AMOUNT PRESCRIBED BY THIS SUBDIVISION
 WHERE SUCH TAXPAYER EMPLOYS ONE OR MORE CREDITABLE EMPLOYEES.
   (B) THE AMOUNT OF THE  CREDIT  SHALL  BE  TWO  THOUSAND  FOUR  HUNDRED
 DOLLARS FOR EACH CREDITABLE EMPLOYEE.
   (C)  FOR THE PURPOSES OF THIS SUBDIVISION, "CREDITABLE EMPLOYEE" SHALL
 MEAN A NEW EMPLOYEE OF AN EMPLOYER WHO:
   (I) IS EMPLOYED BY THE EMPLOYER FOR THE FIRST TIME  ON  OR  AFTER  THE
 EFFECTIVE DATE OF THIS SUBDIVISION;
   (II) HAS FILED A CLAIM FOR UNEMPLOYMENT COMPENSATION IN THIS STATE;
   (III)  HAS  RECEIVED  UNEMPLOYMENT BENEFITS IN THIS STATE FOR AT LEAST
 TWO MONTHS;
   (IV) IS CURRENTLY RECEIVING UNEMPLOYMENT COMPENSATION BENEFITS  AS  OF
 THE  DATE  OF EMPLOYMENT AND SUCH BENEFITS ARE CHARGEABLE TO THE EXPERI-
 ENCE RATING ACCOUNT OF AN EMPLOYER UNDER THIS ARTICLE; OR  HAS  SUCCESS-
 FULLY  COMPLETED  A  TRAINING  PROGRAM  PURSUANT TO SECTION FIVE HUNDRED
 NINETY-NINE OF THE LABOR LAW;
   (V) PERFORMS SERVICES IN ACCORDANCE WITH SUBDIVISION ONE, TWO OR  FOUR
 OF SECTION FIVE HUNDRED ELEVEN OF THE LABOR LAW;
   (VI) REMAINS EMPLOYED BY THE EMPLOYER FOR AT LEAST TWENTY-FOUR CONSEC-
 UTIVE MONTHS; AND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09251-01-3

 S. 4841                             2
 
   (VII)  DURING  THE  ENTIRE  PERIOD SUCH EMPLOYMENT SHALL CONSIST OF AT
 LEAST THIRTY HOURS PER WEEK.
   (D)  FOR  THE  PURPOSES  OF THIS SUBDIVISION THE FOLLOWING TERMS SHALL
 HAVE THE FOLLOWING MEANINGS:
   (I) "NEW EMPLOYEE" SHALL MEAN ANY FULL TIME EMPLOYEE THAT  CAUSES  THE
 TOTAL  NUMBER  OF  EMPLOYEES TO INCREASE ABOVE BASE EMPLOYMENT OR CREDIT
 EMPLOYMENT, WHICHEVER IS HIGHER.
   (II) "BASE YEAR" SHALL MEAN CALENDAR YEAR TWO THOUSAND TWENTY-THREE.
   (III) "BASE EMPLOYMENT" SHALL MEAN THE  AVERAGE  NUMBER  OF  FULL-TIME
 EMPLOYEES  OR FULL-TIME EQUIVALENT EMPLOYEES DURING THE BASE YEAR. FOR A
 NEW BUSINESS, BASE EMPLOYMENT SHALL BEGIN AT ZERO.
   (IV) "CREDIT EMPLOYMENT" SHALL MEAN BASE EMPLOYMENT PLUS THE NUMBER OF
 NEW EMPLOYEES FOR WHICH A CREDIT IS EARNED.
   (E) AN EMPLOYER WHO HAS ONE OR  MORE  CREDITABLE  EMPLOYEES  SHALL  BE
 ELIGIBLE  TO APPLY FOR AND RECEIVE THE CREDIT ESTABLISHED IN THIS SUBDI-
 VISION. ELIGIBILITY FOR THE CREDIT SHALL BE ESTABLISHED AS OF  THE  TIME
 THE  CREDITABLE  EMPLOYEE  COMPLETES  TWENTY-FOUR  CONSECUTIVE MONTHS OF
 EMPLOYMENT, AND THE CREDIT SHALL BE CLAIMED  FOR  THE  TAXABLE  YEAR  IN
 WHICH THE TWENTY-FOURTH MONTH OF SUCH EMPLOYMENT IS COMPLETED.
   (F)  IN  NO  EVENT SHALL THE TOTAL AMOUNT OF ANY TAX CREDIT UNDER THIS
 SUBDIVISION FOR A TAXABLE YEAR EXCEED THE TAXPAYER'S INCOME TAX  LIABIL-
 ITY.  ANY  UNUSED  TAX  CREDIT SHALL BE ALLOWED TO BE CARRIED FORWARD TO
 APPLY TO THE TAXPAYER'S SUCCEEDING FIVE YEARS' TAX  LIABILITY.  NO  SUCH
 TAX  CREDIT  SHALL  BE  ALLOWED  THE  TAXPAYER  AGAINST PRIOR YEARS' TAX
 LIABILITY.
   (G) THE CREDIT SHALL BE CLAIMED AND GRANTED IN SUCH MANNER AS SHALL BE
 SPECIFIED BY RULES ADOPTED BY THE COMMISSIONER.
   § 2. Section 606 of the tax law is amended by adding a new  subsection
 (ooo) to read as follows:
   (OOO)  JOBS  DEVELOPMENT INCENTIVE TAX CREDIT. (1) A TAXPAYER SHALL BE
 ALLOWED A CREDIT, TO BE COMPUTED AS HEREINAFTER  PROVIDED,  AGAINST  THE
 TAX  IMPOSED BY THIS ARTICLE IN THE AMOUNT PRESCRIBED BY THIS SUBSECTION
 WHERE SUCH TAXPAYER EMPLOYS ONE OR MORE CREDITABLE EMPLOYEES.
   (2) THE AMOUNT OF THE  CREDIT  SHALL  BE  TWO  THOUSAND  FOUR  HUNDRED
 DOLLARS FOR EACH CREDITABLE EMPLOYEE.
   (3)  FOR  THE PURPOSES OF THIS SUBSECTION, "CREDITABLE EMPLOYEE" SHALL
 MEAN A NEW EMPLOYEE OF AN EMPLOYER WHO:
   (A) IS EMPLOYED BY THE EMPLOYER FOR THE FIRST TIME  ON  OR  AFTER  THE
 EFFECTIVE DATE OF THIS SUBSECTION;
   (B) HAS FILED A CLAIM FOR UNEMPLOYMENT COMPENSATION IN THIS STATE;
   (C)  HAS RECEIVED UNEMPLOYMENT BENEFITS IN THIS STATE FOR AT LEAST TWO
 MONTHS;
   (D) IS CURRENTLY RECEIVING UNEMPLOYMENT COMPENSATION  BENEFITS  AS  OF
 THE  DATE  OF EMPLOYMENT AND SUCH BENEFITS ARE CHARGEABLE TO THE EXPERI-
 ENCE RATING ACCOUNT OF AN EMPLOYER UNDER THIS ARTICLE; OR  HAS  SUCCESS-
 FULLY  COMPLETED  A  TRAINING  PROGRAM  PURSUANT TO SECTION FIVE HUNDRED
 NINETY-NINE OF THE LABOR LAW;
   (E) PERFORMS SERVICES IN ACCORDANCE WITH SUBDIVISION ONE, TWO OR  FOUR
 OF SECTION FIVE HUNDRED ELEVEN OF THE LABOR LAW;
   (F)  REMAINS EMPLOYED BY THE EMPLOYER FOR AT LEAST TWENTY-FOUR CONSEC-
 UTIVE MONTHS; AND
   (G) DURING THE ENTIRE PERIOD SUCH EMPLOYMENT SHALL CONSIST OF AT LEAST
 THIRTY HOURS PER WEEK.
   (4) FOR THE PURPOSES OF THIS SUBSECTION THE FOLLOWING TERMS SHALL HAVE
 THE FOLLOWING MEANINGS:
 S. 4841                             3
 
   (A) "NEW EMPLOYEE" SHALL MEAN ANY FULL TIME EMPLOYEE THAT  CAUSES  THE
 TOTAL  NUMBER  OF  EMPLOYEES TO INCREASE ABOVE BASE EMPLOYMENT OR CREDIT
 EMPLOYMENT, WHICHEVER IS HIGHER.
   (B) "BASE YEAR" SHALL MEAN CALENDAR YEAR TWO THOUSAND TWENTY-THREE.
   (C)  "BASE  EMPLOYMENT"  SHALL  MEAN  THE  AVERAGE NUMBER OF FULL TIME
 EMPLOYEES OR FULL TIME EQUIVALENT EMPLOYEES DURING THE BASE YEAR. FOR  A
 NEW BUSINESS, BASE EMPLOYMENT SHALL BEGIN AT ZERO.
   (D)  "CREDIT EMPLOYMENT" SHALL MEAN BASE EMPLOYMENT PLUS THE NUMBER OF
 NEW EMPLOYEES FOR WHICH A CREDIT IS EARNED.
   (5) AN EMPLOYER WHO HAS ONE OR  MORE  CREDITABLE  EMPLOYEES  SHALL  BE
 ELIGIBLE  TO  APPLY  FOR  AND  RECEIVE  THE  CREDIT  ESTABLISHED IN THIS
 SUBSECTION. ELIGIBILITY FOR THE CREDIT SHALL BE ESTABLISHED  AS  OF  THE
 TIME THE CREDITABLE EMPLOYEE COMPLETES TWENTY-FOUR CONSECUTIVE MONTHS OF
 EMPLOYMENT,  AND  THE  CREDIT  SHALL  BE CLAIMED FOR THE TAXABLE YEAR IN
 WHICH THE TWENTY-FOURTH MONTH OF SUCH EMPLOYMENT IS COMPLETED.
   (6) IN NO EVENT SHALL THE TOTAL AMOUNT OF ANY TAX  CREDIT  UNDER  THIS
 SUBSECTION  FOR  A TAXABLE YEAR EXCEED THE TAXPAYER'S INCOME TAX LIABIL-
 ITY. ANY UNUSED TAX CREDIT SHALL BE ALLOWED TO  BE  CARRIED  FORWARD  TO
 APPLY  TO  THE  TAXPAYER'S SUCCEEDING FIVE YEARS' TAX LIABILITY. NO SUCH
 TAX CREDIT SHALL BE  ALLOWED  THE  TAXPAYER  AGAINST  PRIOR  YEARS'  TAX
 LIABILITY.
   (7) THE CREDIT SHALL BE CLAIMED AND GRANTED IN SUCH MANNER AS SHALL BE
 SPECIFIED BY RULES ADOPTED BY THE COMMISSIONER.
   §  3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding a new clause (l) to read as follows:
 (L) JOBS DEVELOPMENT INCENTIVE       AMOUNT OF CREDIT UNDER
 TAX CREDIT UNDER SUBSECTION (OOO)    SUBDIVISION FIFTY-NINE OF SECTION
                                      TWO HUNDRED TEN-B OF THIS CHAPTER
   § 4. This act shall take effect immediately.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Senate Bill S4841

Share this bill

Sponsored By

Jacob Ashby