S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    625
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 5, 2023
                                ___________
 
 Introduced  by  Sens. HOYLMAN, HINCHEY, MYRIE, SALAZAR -- 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 providing a tax credit for
   the cost of subscriptions that  support  local  newspapers  and  other
   local  media and a payroll tax credit for compensation of journalists;
   and to provide for the repeal of such provisions upon expiration ther-
   eof
 
   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 "local
 journalism sustainability act".
   § 2. Section 606 of the tax law is amended by adding a new  subsection
 (bbb) to read as follows:
   (BBB)  CREDIT  FOR QUALIFYING PUBLICATION SUBSCRIPTIONS. (1) ALLOWANCE
 OF CREDIT.  FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY  FIRST,  TWO
 THOUSAND  TWENTY-FOUR, A CREDIT FOR QUALIFYING PUBLICATION SUBSCRIPTIONS
 SHALL BE ALLOWED TO A RESIDENT INDIVIDUAL OF THE STATE AGAINST  THE  TAX
 IMPOSED  BY THIS ARTICLE IN AN AMOUNT EQUAL TO THE APPLICABLE PERCENTAGE
 OF AMOUNTS PAID OR INCURRED FOR SUBSCRIPTIONS TO ONE OR MORE  QUALIFYING
 PUBLICATIONS FOR THE PERSONAL USE OF THE TAXPAYER.
   (2)  APPLICATION  OF CREDIT. THE CREDIT ALLOWED UNDER PARAGRAPH ONE OF
 THIS SUBSECTION TO ANY TAXPAYER FOR ANY TAXABLE YEAR  SHALL  NOT  EXCEED
 TWO  HUNDRED  FIFTY  DOLLARS  PER  TAX  YEAR AND SHALL BE SUBJECT TO THE
 APPLICABLE PERCENTAGES DESCRIBED IN THIS SUBSECTION.
   (3) DEFINITIONS. AS USED IN THIS SUBSECTION, THE FOLLOWING TERMS SHALL
 HAVE THE FOLLOWING MEANINGS:
   (A) "APPLICABLE PERCENTAGE" MEANS: (I) IN THE FIRST  TAXABLE  YEAR  TO
 WHICH  THIS  SECTION  APPLIES,  EIGHTY  PERCENT OF THE TOTAL COST OF THE
 SUBSCRIPTION OR SUBSCRIPTIONS, AND (II) IN ANY SUBSEQUENT TAXABLE  YEAR,
 FIFTY PERCENT OF THE TOTAL COST OF THE SUBSCRIPTION OR SUBSCRIPTIONS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02644-01-3
              

 S. 625                              2
 
   (B) "QUALIFYING PUBLICATION" MEANS, WITH RESPECT TO ANY CALENDAR YEAR,
 ANY PRINT OR DIGITAL PUBLICATION:
   (I)  THE  PRIMARY  PURPOSE  OF  WHICH IS TO SERVE A LOCAL COMMUNITY BY
 PROVIDING LOCAL NEWS, WHICH IS PUBLISHED  DURING  EACH  QUARTER  OF  THE
 CALENDAR  YEAR  AND  HAS BEEN PUBLISHED DURING EACH OF THE FOUR CALENDAR
 QUARTERS PRECEDING SUCH CALENDAR YEAR;
   (II) WHICH IS COVERED BY MEDIA LIABILITY INSURANCE FOR  SUCH  CALENDAR
 YEAR;
   (III)  WHICH  PUBLISHES  THE  OWNER'S  NAME  PURSUANT TO SECTION THREE
 HUNDRED THIRTY OF THE GENERAL BUSINESS  LAW,  PROVIDED  THAT  A  DIGITAL
 PUBLICATION  SHALL  PUBLISH  THE INFORMATION REQUIRED BY SUCH SECTION ON
 THE WEBSITE OF SUCH PUBLICATION; AND
   (IV) WHICH RECEIVES  SERVICES  FROM  NOT  MORE  THAN  FIFTEEN  HUNDRED
 PERSONS DURING SUCH CALENDAR QUARTER.
  (C)  (I) "LOCAL COMMUNITY" MEANS, WITH RESPECT TO ANY QUALIFYING PUBLI-
 CATION, A GEOGRAPHICALLY CONTIGUOUS AREA THAT DOES NOT EXCEED THE BOUND-
 ARIES OF:
  (I) THE METROPOLITAN OR MICROPOLITAN STATISTICAL AREA,  AS  DEFINED  BY
 THE  FEDERAL  OFFICE  OF  MANAGEMENT AND BUDGET, IN WHICH THE QUALIFYING
 PUBLICATION IS PRIMARILY DISTRIBUTED;
  (II) IF SUCH QUALIFYING PUBLICATION IS NOT PRIMARILY DISTRIBUTED  IN  A
 METROPOLITAN  OR MICROPOLITAN STATISTICAL AREA, THE COUNTY IN WHICH SUCH
 QUALIFYING PUBLICATION IS PRIMARILY DISTRIBUTED; OR
   (III) IF SUCH QUALIFYING PUBLICATION IS NOT PRIMARILY DISTRIBUTED IN A
 METROPOLITAN OR MICROPOLITAN STATISTICAL AREA OR A COUNTY, THE STATE.
   (II) A  DIGITAL  PUBLICATION  SHALL  BE  CONSIDERED  TO  BE  PRIMARILY
 DISTRIBUTED IN THE AREA WHERE SUCH PUBLICATION IS PRIMARILY CONSUMED.
   (4)  APPLICATION TO CERTAIN ORGANIZATIONS EXEMPT FROM TAX. IN THE CASE
 OF ANY PRINT OR DIGITAL PUBLICATION THAT IS PUBLISHED BY  ANY  ORGANIZA-
 TION  DESCRIBED  IN  SECTION 501(C) OF THE INTERNAL REVENUE CODE OF 1986
 AND EXEMPT FROM TAX UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE OF
 1986, SUCH PUBLICATION SHALL BE  TREATED  AS  A  QUALIFYING  PUBLICATION
 UNDER  THIS SUBSECTION ONLY IF: (I) THE PUBLICATION OF PRINT AND DIGITAL
 PUBLICATIONS IS THE PRIMARY ACTIVITY OF SUCH ORGANIZATION; AND (II)  ANY
 PERSON MAKING A CHARITABLE CONTRIBUTION (AS DEFINED IN SECTION 170(C) OF
 THE  INTERNAL  REVENUE  CODE  OF 1986) TO SUCH ORGANIZATION MAY ELECT TO
 TREAT SUCH CONTRIBUTION AS AN AMOUNT PAID OR INCURRED FOR A SUBSCRIPTION
 TO WHICH THIS SUBSECTION APPLIES IN LIEU OF TREATING  SUCH  CONTRIBUTION
 AS A CHARITABLE CONTRIBUTION FOR PURPOSES OF SECTION 170 OF THE INTERNAL
 REVENUE CODE OF 1986.
   (5)  LIMITATION.  THE  CREDIT ALLOWABLE UNDER THIS SUBSECTION SHALL BE
 ALLOWABLE FOR A PERIOD OF FIVE YEARS FROM THE  EFFECTIVE  DATE  OF  THIS
 SUBSECTION.  NO  CREDIT  SHALL  BE ALLOWED UNDER THIS SUBSECTION FOR ANY
 AMOUNT PAID OR INCURRED BY THE TAXPAYER IN  A  TAXABLE  YEAR  COMMENCING
 AFTER  THE  CLOSE  OF  THE  FIVE-YEAR PERIOD. NO CREDIT SHALL BE ALLOWED
 UNDER THIS SUBSECTION FOR ANY PORTION OF AN AMOUNT PAID OR INCURRED BY A
 TAXPAYER IN A TAXABLE YEAR FOR ANY  SUBSCRIPTION  OR  EXTENSION  THEREOF
 THAT  EXTENDS  BEYOND THE CLOSE OF THE FIVE-YEAR PERIOD BEGINNING ON THE
 EFFECTIVE DATE OF THIS SUBSECTION.
   § 3. The tax law is amended by adding a new section 24-d  to  read  as
 follows:
   §  24-D. PAYROLL CREDIT FOR COMPENSATION OF JOURNALISTS. (A) IN GENER-
 AL.  AN ELIGIBLE LOCAL NEWS JOURNALIST EMPLOYER WHICH IS SUBJECT TO  TAX
 UNDER  ARTICLES  NINE-A OR TWENTY-TWO OF THIS CHAPTER SHALL BE ALLOWED A
 CREDIT AGAINST SUCH TAX, TO BE COMPUTED AS PROVIDED IN THIS SECTION, FOR
 EACH CALENDAR QUARTER AN AMOUNT EQUAL TO THE  APPLICABLE  PERCENTAGE  OF
 S. 625                              3
 
 WAGES  PAID BY SUCH EMPLOYER TO LOCAL NEWS JOURNALISTS FOR SUCH CALENDAR
 QUARTER.
   (B) LIMITATIONS. (1) THE NUMBER OF LOCAL NEWS JOURNALISTS WHICH MAY BE
 TAKEN INTO ACCOUNT UNDER SUBDIVISION (A) OF THIS SECTION WITH RESPECT TO
 ANY  ELIGIBLE  LOCAL  NEWS  JOURNALIST EMPLOYER FOR ANY CALENDAR QUARTER
 SHALL NOT EXCEED ONE THOUSAND FIVE HUNDRED.
   (2) THE AMOUNT OF WAGES PAID WITH RESPECT TO ANY INDIVIDUAL WHICH  MAY
 BE  TAKEN  INTO ACCOUNT UNDER SUBDIVISION (A) OF THIS SECTION DURING ANY
 CALENDAR QUARTER BY THE ELIGIBLE LOCAL NEWS  JOURNALIST  EMPLOYER  SHALL
 NOT EXCEED TWELVE THOUSAND FIVE HUNDRED DOLLARS.
   (3) THE PROVISIONS OF THIS SECTION SHALL ONLY APPLY TO THE FIRST TWEN-
 TY CALENDAR QUARTERS BEGINNING AFTER THE EFFECTIVE DATE OF THIS SECTION.
   (4) THE CREDIT ALLOWED BY SUBDIVISION (A) OF THIS SECTION WITH RESPECT
 TO ANY CALENDAR QUARTER SHALL NOT EXCEED THE APPLICABLE EMPLOYMENT TAXES
 (REDUCED BY ANY CREDITS ALLOWED UNDER SUBSECTIONS (E) AND (F) OF SECTION
 3111 OF THE INTERNAL REVENUE CODE OF 1986, SECTIONS 7001 AND 7003 OF THE
 FAMILIES  FIRST  CORONAVIRUS RESPONSE ACT, AND SECTION 2301 OF THE CARES
 ACT) ON THE WAGES PAID WITH RESPECT TO THE EMPLOYMENT OF ALL THE EMPLOY-
 EES OF THE ELIGIBLE NEWSPAPER EMPLOYER FOR SUCH CALENDAR QUARTER.
   (5) THIS SECTION SHALL NOT APPLY WITH RESPECT TO  ANY  ELIGIBLE  LOCAL
 NEWS  JOURNALIST  EMPLOYER  FOR  ANY  CALENDAR  QUARTER IF SUCH EMPLOYER
 ELECTS (AT SUCH  TIME  AND  IN  SUCH  MANNER  AS  THE  COMMISSIONER  MAY
 PRESCRIBE) NOT TO HAVE THIS SECTION APPLY.
   (6)  ANY  WAGES  TAKEN  INTO ACCOUNT IN DETERMINING THE CREDIT ALLOWED
 UNDER THIS SECTION SHALL NOT BE  TAKEN  INTO  ACCOUNT  FOR  PURPOSES  OF
 DETERMINING ANY OTHER CREDIT ALLOWED UNDER THIS CHAPTER.
   (7)  THE  CREDIT ALLOWABLE UNDER THIS SECTION SHALL BE ALLOWABLE FOR A
 PERIOD OF FIVE YEARS FROM THE EFFECTIVE DATE OF THIS SECTION. NO  CREDIT
 SHALL  BE  ALLOWED UNDER THIS SECTION FOR ANY AMOUNT PAID OR INCURRED BY
 THE TAXPAYER IN A TAXABLE YEAR COMMENCING AFTER THE CLOSE OF  THE  FIVE-
 YEAR  PERIOD.  NO  CREDIT  SHALL  BE  ALLOWED UNDER THIS SECTION FOR ANY
 PORTION OF AN AMOUNT PAID OR INCURRED BY THE TAXPAYER IN A TAXABLE  YEAR
 FOR  ANY  WAGES  THAT  EXTEND  BEYOND  THE CLOSE OF THE FIVE-YEAR PERIOD
 BEGINNING ON THE EFFECTIVE DATE OF THIS SECTION.
   (C) DEFINITIONS. AS USED IN THIS SECTION, THE  FOLLOWING  TERMS  SHALL
 HAVE THE FOLLOWING MEANINGS:
   (1) "APPLICABLE PERCENTAGE" MEANS:
   (A)  IN  THE CASE OF EACH OF THE FIRST FOUR CALENDAR QUARTERS TO WHICH
 THIS SECTION APPLIES, FIFTY PERCENT; AND
   (B) IN THE CASE OF EACH CALENDAR QUARTER THEREAFTER, THIRTY PERCENT.
   (2) (A) "ELIGIBLE LOCAL NEWS JOURNALIST EMPLOYER" MEANS, WITH  RESPECT
 TO  ANY  CALENDAR  QUARTER, ANY EMPLOYER WHICH: (I) IS AN ELIGIBLE LOCAL
 NEWS ORGANIZATION OR A QUALIFYING BROADCAST STATION;  AND  (II)  EMPLOYS
 LOCAL NEWS JOURNALISTS.
   (B)  ALL  PERSONS TREATED AS A SINGLE EMPLOYER UNDER SUBSECTION (A) OR
 (B) OF SECTION 52 OF THE INTERNAL REVENUE CODE OF  1986,  OR  SUBSECTION
 (M) OR (O) OF SECTION 414 OF SUCH CODE, SHALL BE TREATED AS ONE EMPLOYER
 FOR PURPOSES OF THIS SECTION.
   (3)  "ELIGIBLE  LOCAL  NEWS  ORGANIZATION"  MEANS, WITH RESPECT TO ANY
 CALENDAR QUARTER, ANY EMPLOYER WHICH:
   (A) PUBLISHES ONE OR MORE QUALIFYING PUBLICATIONS DURING THE  CALENDAR
 QUARTER,
   (B) IS NOT A DISQUALIFIED ORGANIZATION; AND
   (C)  DID  NOT DERIVE MORE THAN FIFTY PERCENT OF ITS GROSS RECEIPTS FOR
 SUCH CALENDAR QUARTER FROM DISQUALIFIED ORGANIZATIONS.
 S. 625                              4
 
   (4) "QUALIFYING BROADCAST STATION" MEANS, WITH RESPECT TO ANY CALENDAR
 QUARTER, ANY EMPLOYER WHICH:
   (A)  OWNS OR OPERATES A BROADCAST STATION, AS DEFINED BY SECTION THREE
 OF THE FEDERAL COMMUNICATIONS ACT OF 1934;
   (B) IS NOT A DISQUALIFIED ORGANIZATION;
   (C) DID NOT DERIVE MORE THAN FIFTY PERCENT OF ITS GROSS  RECEIPTS  FOR
 SUCH CALENDAR QUARTER FROM DISQUALIFIED ORGANIZATIONS; AND
   (D)  DISCLOSES  ITS  OWNERSHIP TO THE PUBLIC AT SUCH TIMES AND IN SUCH
 MANNER AS IDENTIFIED BY THE COMMISSIONER.
   (5) "LOCAL NEWS JOURNALIST" MEANS, WITH RESPECT TO ANY ELIGIBLE  LOCAL
 NEWS JOURNALIST FOR ANY CALENDAR QUARTER, ANY FULL TIME EMPLOYEE WHO (A)
 PROVIDES QUALIFIED SERVICES FOR AN AVERAGE OF NOT LESS THAN THIRTY HOURS
 PER  WEEK  FOR  EACH  WEEK DURING WHICH SUCH EMPLOYEE IS EMPLOYED BY THE
 ELIGIBLE LOCAL NEWS JOURNALIST EMPLOYER DURING THE CALENDAR QUARTER, AND
 (B) RESIDES WITHIN FIFTY MILES OF THE LOCAL COMMUNITY  WITH  RESPECT  TO
 THE  QUALIFYING PUBLICATION OR QUALIFYING BROADCAST STATION WITH RESPECT
 TO WHICH THE QUALIFIED SERVICES ARE PROVIDED.
   (6) "QUALIFIED SERVICES" MEANS SERVICES WHICH  CONSIST  OF  GATHERING,
 PREPARING,  DIRECTING  THE  RECORDING OF, PRODUCING, COLLECTING,  PHOTO-
 GRAPHING,   RECORDING,   WRITING,   EDITING,  REPORTING,  PRESENTING  OR
 PUBLISHING  ORIGINAL LOCAL COMMUNITY NEWS FOR DISSEMINATION TO THE LOCAL
 COMMUNITY.
   (7) "QUALIFYING PUBLICATION" MEANS, WITH RESPECT TO ANY CALENDAR QUAR-
 TER, ANY PRINT OR DIGITAL PUBLICATION:
   (A) THE PRIMARY PURPOSE OF WHICH IS TO  SERVE  A  LOCAL  COMMUNITY  BY
 PROVIDING LOCAL NEWS, WHICH IS PUBLISHED DURING THE CALENDAR QUARTER AND
 HAS  BEEN  PUBLISHED DURING EACH OF THE FOUR CALENDAR QUARTERS PRECEDING
 SUCH CALENDAR QUARTER;
   (B) WHICH IS COVERED BY MEDIA LIABILITY INSURANCE  FOR  SUCH  CALENDAR
 QUARTER;
   (C) WHICH PUBLISHES THE OWNER'S NAME PURSUANT TO SECTION THREE HUNDRED
 THIRTY  OF THE GENERAL BUSINESS LAW, PROVIDED THAT A DIGITAL PUBLICATION
 SHALL PUBLISH THE INFORMATION REQUIRED BY SUCH SECTION ON THE WEBSITE OF
 SUCH PUBLICATION; AND
   (D) WHICH RECEIVES SERVICES FROM NOT MORE THAN FIFTEEN HUNDRED PERSONS
 DURING SUCH CALENDAR QUARTER.
   (8) (A) "LOCAL COMMUNITY" MEANS, WITH RESPECT TO ANY QUALIFYING PUBLI-
 CATION, A GEOGRAPHICALLY CONTIGUOUS AREA THAT DOES NOT EXCEED THE BOUND-
 ARIES OF:
   (I) THE METROPOLITAN OR MICROPOLITAN STATISTICAL AREA, AS  DEFINED  BY
 THE  FEDERAL  OFFICE  OF  MANAGEMENT AND BUDGET, IN WHICH THE QUALIFYING
 PUBLICATION IS PRIMARILY DISTRIBUTED;
   (II) IF SUCH QUALIFYING PUBLICATION IS NOT PRIMARILY DISTRIBUTED IN  A
 METROPOLITAN  OR MICROPOLITAN STATISTICAL AREA, THE COUNTY IN WHICH SUCH
 QUALIFYING PUBLICATION IS PRIMARILY DISTRIBUTED; OR
   (III) IF SUCH QUALIFYING PUBLICATION IS NOT PRIMARILY DISTRIBUTED IN A
 METROPOLITAN OR MICROPOLITAN STATISTICAL AREA OR A COUNTY, THE STATE.
   (B) A DIGITAL PUBLICATION SHALL BE CONSIDERED TO BE PRIMARILY DISTRIB-
 UTED IN THE AREA WHERE SUCH PUBLICATION IS PRIMARILY CONSUMED.
   (9) "DISQUALIFIED ORGANIZATION" MEANS:
   (A) ANY ORGANIZATION DESCRIBED IN SECTION 501(C)(4)  OF  THE  INTERNAL
 REVENUE CODE AND EXEMPT FROM TAX UNDER SECTION 501(A) OF SUCH CODE;
   (B)  ANY ORGANIZATION DESCRIBED IN SECTION 527 OF THE INTERNAL REVENUE
 CODE; OR
 S. 625                              5
 
   (C) ANY ORGANIZATION THAT IS CONTROLLED, DIRECTLY  OR  INDIRECTLY,  BY
 ONE  OR MORE ORGANIZATIONS DESCRIBED IN SUBPARAGRAPH (I) OR (II) OF THIS
 PARAGRAPH.
   (D)  MAXIMUM  AMOUNT  OF  CREDITS.  THE  MAXIMUM AMOUNT OF TAX CREDITS
 ALLOWED UNDER  THIS  SECTION,  SUBDIVISION  FIFTY-NINE  OF  SECTION  TWO
 HUNDRED  TEN-B  AND  SUBSECTION  (W)  OF SECTION SIX HUNDRED SIX OF THIS
 CHAPTER IN ANY CALENDAR YEAR SHALL BE ONE MILLION DOLLARS  PER  ELIGIBLE
 NEWSPAPER EMPLOYER.
   (E)   ADMINISTRATION.   THE   COMMISSIONER  SHALL  ISSUE  SUCH  FORMS,
 INSTRUCTIONS, REGULATIONS, AND GUIDANCE AS ARE NECESSARY:
   (1) TO ALLOW THE ADVANCE PAYMENT OF THE CREDIT UNDER  SUBDIVISION  (A)
 OF  THIS  SECTION,  SUBJECT TO THE LIMITATIONS PROVIDED IN THIS SECTION,
 BASED ON SUCH INFORMATION AS THE COMMISSIONER SHALL REQUIRE;
   (2) TO PROVIDE FOR THE RECONCILIATION OF SUCH ADVANCE PAYMENT WITH THE
 AMOUNT ADVANCED AT THE TIME OF FILING THE RETURN OF TAX FOR THE APPLICA-
 BLE CALENDAR QUARTER OR TAXABLE YEAR; AND
   (3) WITH RESPECT TO THE APPLICATION OF THE  CREDIT  UNDER  SUBDIVISION
 (A)  OF  THIS  SECTION  TO  THIRD-PARTY  PAYORS  (INCLUDING PROFESSIONAL
 EMPLOYER ORGANIZATIONS, CERTIFIED PROFESSIONAL  EMPLOYER  ORGANIZATIONS,
 OR  AGENTS  UNDER  SECTION  3504  OF THE INTERNAL REVENUE CODE OF 1986),
 INCLUDING  REGULATIONS  OR  GUIDANCE  ALLOWING  SUCH  PAYORS  TO  SUBMIT
 DOCUMENTATION  NECESSARY TO SUBSTANTIATE THE ELIGIBLE EMPLOYER STATUS OF
 EMPLOYERS THAT USE SUCH PAYORS.
   (F) TREATMENT OF DEPOSITS. THE COMMISSIONER SHALL  WAIVE  ANY  PENALTY
 UNDER  THIS  CHAPTER FOR ANY FAILURE TO MAKE A DEPOSIT OF ANY APPLICABLE
 EMPLOYMENT TAXES IF THE COMMISSIONER DETERMINES THAT  SUCH  FAILURE  WAS
 DUE  TO  THE  REASONABLE  ANTICIPATION  OF THE CREDIT ALLOWED UNDER THIS
 SECTION.
   (G) CROSS-REFERENCES. FOR APPLICATION OF THE CREDIT  PROVIDED  FOR  IN
 THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
   (1) ARTICLE 9-A: SECTION 210-B: SUBDIVISION 59.
   (2) ARTICLE 22: SECTION 606: SUBSECTIONS (I) AND (W).
   §  4. Section 210-B of the tax law is amended by adding a new subdivi-
 sion 59 to read as follows:
   59. PAYROLL CREDIT FOR COMPENSATION OF JOURNALISTS. (A)  ALLOWANCE  OF
 CREDIT.  A TAXPAYER WHO IS ELIGIBLE PURSUANT TO SECTION TWENTY-FOUR-D OF
 THIS CHAPTER SHALL BE ALLOWED A CREDIT TO BE  COMPUTED  AS  PROVIDED  IN
 SUCH SECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (B)  APPLICATION  OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
 FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO  LESS
 THAN  THE  AMOUNT  PRESCRIBED  IN  PARAGRAPH  (D)  OF SUBDIVISION ONE OF
 SECTION TWO HUNDRED TEN OF THIS ARTICLE; PROVIDED, HOWEVER, THAT IF  THE
 AMOUNT  OF  THE  CREDIT ALLOWABLE UNDER THIS SUBDIVISION FOR ANY TAXABLE
 YEAR REDUCES THE TAX TO SUCH AMOUNT OR IF THE  TAXPAYER  OTHERWISE  PAYS
 TAX BASED ON THE FIXED DOLLAR MINIMUM AMOUNT, THE EXCESS SHALL BE TREAT-
 ED  AS  AN  OVERPAYMENT  OF TAX TO BE CREDITED OR REFUNDED IN ACCORDANCE
 WITH THE PROVISIONS OF SECTION ONE THOUSAND EIGHTY-SIX OF THIS  CHAPTER;
 AND  PROVIDED, FURTHER, THAT THE PROVISIONS OF SUBSECTION (C) OF SECTION
 ONE THOUSAND EIGHTY-EIGHT OF THIS CHAPTER NOTWITHSTANDING,  NO  INTEREST
 SHALL BE PAID THEREON.
   §  5. Section 606 of the tax law is amended by adding a new subsection
 (w) to read as follows:
   (W) PAYROLL CREDIT FOR COMPENSATION OF JOURNALISTS. (1)  ALLOWANCE  OF
 CREDIT.  A TAXPAYER WHO IS ELIGIBLE PURSUANT TO SECTION TWENTY-FOUR-D OF
 THIS CHAPTER SHALL BE ALLOWED A CREDIT TO BE  COMPUTED  AS  PROVIDED  IN
 SUCH SECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
 S. 625                              6
 
   (2) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER
 THIS SUBSECTION FOR ANY TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR SUCH
 YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
 ED  OR  REFUNDED  AS  PROVIDED IN SECTION SIX HUNDRED EIGHTY-SIX OF THIS
 ARTICLE; PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   §  6. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding a new clause (1) to read as follows:
 (1) PAYROLL CREDIT FOR               AMOUNT OF CREDIT FOR THE SUM OF
 COMPENSATION OF JOURNALISTS          PAYROLL CREDIT FOR COMPENSATION
 UNDER SUBSECTION (W)                 OF JOURNALISTS UNDER SUBDIVISION
                                      FIFTY-NINE OF SECTION
                                      TWO HUNDRED TEN-B
   § 7. This act shall take effect immediately and  shall  apply  to  tax
 years commencing on and after January 1, 2024; provided that:
   (a) this act shall expire and be deemed repealed January 1, 2029; and
   (b)  the  expiration and repeal of this act shall not affect the proc-
 essing or allowance of any tax credit provided in this act for  any  tax
 year commencing prior to January 1, 2029.
   Effective  immediately,  the  addition, amendment and/or repeal of any
 rule or regulation necessary for the implementation of this act  on  its
 effective date are authorized to be made and completed on or before such
 date.

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  625--B
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 5, 2023
                                ___________
 
 Introduced  by  Sens.  HOYLMAN-SIGAL,  ADDABBO,  BRESLIN, BROUK, CLEARE,
   COMRIE, COONEY,  HARCKHAM,  HINCHEY,  JACKSON,  KENNEDY,  LIU,  MYRIE,
   PALUMBO,  RIVERA, SALAZAR, SKOUFIS, STAVISKY -- read twice and ordered
   printed, and when printed to be committed to the Committee  on  Budget
   and  Revenue  -- committee discharged, bill amended, ordered reprinted
   as amended and recommitted to said committee -- committee  discharged,
   bill  amended,  ordered  reprinted  as amended and recommitted to said
   committee
 
 AN ACT to amend the tax law, in relation  to  providing  a  payroll  tax
   credit  for compensation of journalists; and to provide 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.  This  act  shall  be known and may be cited as the "local
 journalism sustainability act".
   § 2. The tax law is amended by adding a new section 24-d  to  read  as
 follows:
   §  24-D. PAYROLL CREDIT FOR COMPENSATION OF JOURNALISTS. (A) IN GENER-
 AL.  AN ELIGIBLE NEWS JOURNALIST EMPLOYER WHICH IS SUBJECT TO TAX  UNDER
 ARTICLE  NINE-A  OR TWENTY-TWO OF THIS CHAPTER SHALL BE ALLOWED A CREDIT
 AGAINST SUCH TAX, TO BE COMPUTED AS PROVIDED IN THIS SECTION,  FOR  EACH
 CALENDAR  QUARTER  AN AMOUNT EQUAL TO THE APPLICABLE PERCENTAGE OF WAGES
 PAID BY SUCH EMPLOYER TO NEWS JOURNALISTS FOR SUCH CALENDAR QUARTER.
   (B) LIMITATIONS.  (1) THE AMOUNT OF WAGES PAID  WITH  RESPECT  TO  ANY
 INDIVIDUAL WHICH MAY BE TAKEN INTO ACCOUNT UNDER SUBDIVISION (A) OF THIS
 SECTION  DURING  ANY  CALENDAR  QUARTER  BY THE ELIGIBLE NEWS JOURNALIST
 EMPLOYER SHALL NOT EXCEED TWELVE THOUSAND FIVE HUNDRED  DOLLARS.  CREDIT
 IS  ALLOWED  FOR  INDIVIDUALS PAID IN EXCESS OF THIS AMOUNT BUT SHALL BE
 LIMITED TO A PORTION OF THE  WAGES  PAID  UP  TO  TWELVE  THOUSAND  FIVE
 HUNDRED DOLLARS PER QUARTER.
   (2) THE PROVISIONS OF THIS SECTION SHALL ONLY APPLY TO THE FIRST TWEN-
 TY CALENDAR QUARTERS BEGINNING AFTER THE EFFECTIVE DATE OF THIS SECTION.
   (3)  THIS  SECTION  SHALL  NOT APPLY WITH RESPECT TO ANY ELIGIBLE NEWS
 JOURNALIST EMPLOYER FOR ANY CALENDAR QUARTER IF SUCH EMPLOYER ELECTS (AT
 
              

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02644-08-3
 S. 625--B                           2
 
 SUCH TIME AND IN SUCH MANNER AS THE COMMISSIONER MAY PRESCRIBE)  NOT  TO
 HAVE THIS SECTION APPLY.
   (4)  ANY  WAGES  TAKEN  INTO ACCOUNT IN DETERMINING THE CREDIT ALLOWED
 UNDER THIS SECTION SHALL NOT BE  TAKEN  INTO  ACCOUNT  FOR  PURPOSES  OF
 DETERMINING ANY OTHER CREDIT ALLOWED UNDER THIS CHAPTER.
   (5)  THE  CREDIT ALLOWABLE UNDER THIS SECTION SHALL BE ALLOWABLE FOR A
 PERIOD OF FIVE YEARS FROM THE EFFECTIVE DATE OF THIS SECTION. NO  CREDIT
 SHALL  BE  ALLOWED UNDER THIS SECTION FOR ANY AMOUNT PAID OR INCURRED BY
 THE TAXPAYER IN A TAXABLE YEAR COMMENCING AFTER THE CLOSE OF  THE  FIVE-
 YEAR  PERIOD.  NO  CREDIT  SHALL  BE  ALLOWED UNDER THIS SECTION FOR ANY
 PORTION OF AN AMOUNT PAID OR INCURRED BY THE TAXPAYER IN A TAXABLE  YEAR
 FOR  ANY  WAGES  THAT  EXTEND  BEYOND  THE CLOSE OF THE FIVE-YEAR PERIOD
 BEGINNING ON THE EFFECTIVE DATE OF THIS SECTION.
   (C) DEFINITIONS. AS USED IN THIS SECTION, THE  FOLLOWING  TERMS  SHALL
 HAVE THE FOLLOWING MEANINGS:
   (1) "APPLICABLE PERCENTAGE" MEANS FIFTY PERCENT.
   (2) (A) "ELIGIBLE NEWS JOURNALIST EMPLOYER" MEANS, WITH RESPECT TO ANY
 CALENDAR QUARTER, ANY EMPLOYER WHICH: (I) IS A QUALIFYING PUBLICATION OR
 A QUALIFYING BROADCAST STATION; AND (II) EMPLOYS NEWS JOURNALISTS.
   (B)  ALL  PERSONS TREATED AS A SINGLE EMPLOYER UNDER SUBSECTION (A) OR
 (B) OF SECTION 52 OF THE INTERNAL REVENUE CODE OF  1986,  OR  SUBSECTION
 (M) OR (O) OF SECTION 414 OF SUCH CODE, SHALL BE TREATED AS ONE EMPLOYER
 FOR  PURPOSES  OF THIS PARAGRAPH; PROVIDED THAT EACH FCC LICENSED BROAD-
 CAST STATION OR QUALIFYING PUBLICATION WHICH SERVES  A  SEPARATE  MARKET
 SHALL  BE  TREATED AS A SEPARATE AND SINGLE NEWS JOURNALIST EMPLOYER FOR
 THE PURPOSES OF THIS TAX CREDIT.
   (3) (A) "QUALIFYING BROADCAST STATION"  MEANS,  WITH  RESPECT  TO  ANY
 CALENDAR QUARTER, ANY EMPLOYER WHICH:
   (I)  PROVIDES  LOCAL  COMMUNITY  NEWS,  WHICH  IS BROADCAST DURING THE
 CALENDAR QUARTER AND HAS BEEN BROADCAST DURING EACH OF THE FOUR CALENDAR
 QUARTERS PRECEDING SUCH CALENDAR QUARTER;
   (II) OWNS OR OPERATES A BROADCAST STATION, AS DEFINED BY SECTION THREE
 OF THE FEDERAL COMMUNICATIONS ACT OF 1934;
   (III) IS NOT A DISQUALIFIED ORGANIZATION;
   (IV) DID NOT DERIVE MORE THAN FIFTY PERCENT OF ITS GROSS RECEIPTS  FOR
 SUCH CALENDAR QUARTER FROM DISQUALIFIED ORGANIZATIONS; AND
   (V)  DISCLOSES  ITS  OWNERSHIP TO THE PUBLIC AT SUCH TIMES AND IN SUCH
 MANNER AS IDENTIFIED BY THE COMMISSIONER.
   (B) FOR PURPOSES OF THIS PARAGRAPH EACH FCC LICENSED BROADCAST STATION
 SERVING A SEPARATE MARKET SHALL BE TREATED AS A SEPARATE AND SINGLE NEWS
 JOURNALIST EMPLOYER.
   (4) "NEWS JOURNALIST" MEANS, WITH RESPECT TO ANY ELIGIBLE  NEWS  JOUR-
 NALIST FOR ANY CALENDAR QUARTER, ANY FULL TIME EMPLOYEE WHO (A) PROVIDES
 QUALIFIED SERVICES FOR AN AVERAGE OF NOT LESS THAN THIRTY HOURS PER WEEK
 FOR  EACH  WEEK  DURING  WHICH SUCH EMPLOYEE IS EMPLOYED BY THE ELIGIBLE
 NEWS JOURNALIST EMPLOYER DURING THE CALENDAR QUARTER,  AND  (B)  RESIDES
 WITHIN  THE  DESIGNATED  BROADCAST  MARKET  OR  FIFTY MILES OF THE LOCAL
 COMMUNITY WITH RESPECT  TO  THE  QUALIFYING  PUBLICATION  OR  QUALIFYING
 BROADCAST  STATION  WITH  RESPECT  TO  WHICH  THE QUALIFIED SERVICES ARE
 PROVIDED.
   (5) "QUALIFIED SERVICES" MEANS SERVICES WHICH  CONSIST  OF  GATHERING,
 PREPARING,  DIRECTING  THE  RECORDING OF, PRODUCING, COLLECTING,  PHOTO-
 GRAPHING,   RECORDING,   WRITING,   EDITING,  REPORTING,  PRESENTING  OR
 PUBLISHING ORIGINAL NEWS FOR DISSEMINATION TO THE LOCAL COMMUNITY.
   (6) "QUALIFYING PUBLICATION" MEANS, WITH RESPECT TO ANY CALENDAR QUAR-
 TER, ANY PRINT OR DIGITAL PUBLICATION:
 S. 625--B                           3
 
   (A) WHICH PROVIDES LOCAL COMMUNITY NEWS, WHICH IS PUBLISHED DURING THE
 CALENDAR QUARTER AND HAS BEEN PUBLISHED DURING EACH OF THE FOUR CALENDAR
 QUARTERS PRECEDING SUCH CALENDAR QUARTER;
   (B) IS NOT A DISQUALIFIED ORGANIZATION;
   (C)  DID  NOT DERIVE MORE THAN FIFTY PERCENT OF ITS GROSS RECEIPTS FOR
 SUCH CALENDAR QUARTER FROM DISQUALIFIED ORGANIZATIONS;
   (D) WHICH IS COVERED BY MEDIA LIABILITY INSURANCE  FOR  SUCH  CALENDAR
 QUARTER; AND
   (E) WHICH PUBLISHES THE OWNER'S NAME PURSUANT TO SECTION THREE HUNDRED
 THIRTY  OF THE GENERAL BUSINESS LAW, PROVIDED THAT A DIGITAL PUBLICATION
 SHALL PUBLISH THE INFORMATION REQUIRED BY SUCH SECTION ON THE WEBSITE OF
 SUCH PUBLICATION.
   (7) (A) "LOCAL COMMUNITY" MEANS, WITH RESPECT TO ANY QUALIFYING PUBLI-
 CATION, A GEOGRAPHICALLY CONTIGUOUS AREA THAT DOES NOT EXCEED THE BOUND-
 ARIES OF:
   (I) THE METROPOLITAN OR MICROPOLITAN STATISTICAL AREA, AS  DEFINED  BY
 THE  FEDERAL  OFFICE  OF  MANAGEMENT AND BUDGET, IN WHICH THE QUALIFYING
 PUBLICATION IS PRIMARILY DISTRIBUTED;
   (II) IF SUCH QUALIFYING PUBLICATION IS NOT PRIMARILY DISTRIBUTED IN  A
 METROPOLITAN  OR MICROPOLITAN STATISTICAL AREA, THE COUNTY IN WHICH SUCH
 QUALIFYING PUBLICATION IS PRIMARILY DISTRIBUTED; OR
   (III) IF SUCH QUALIFYING PUBLICATION IS NOT PRIMARILY DISTRIBUTED IN A
 METROPOLITAN OR MICROPOLITAN STATISTICAL AREA OR A COUNTY, THE STATE.
   (B) A DIGITAL PUBLICATION SHALL BE CONSIDERED TO BE PRIMARILY DISTRIB-
 UTED IN THE AREA WHERE SUCH PUBLICATION  IS  INTENDED  TO  BE  PRIMARILY
 CONSUMED.
   (8) "DISQUALIFIED ORGANIZATION" MEANS:
   (A)  ANY  ORGANIZATION  DESCRIBED IN SECTION 501(C)(4) OF THE INTERNAL
 REVENUE CODE AND EXEMPT FROM TAX UNDER SECTION 501(A) OF SUCH CODE;
   (B) ANY ORGANIZATION DESCRIBED IN SECTION 527 OF THE INTERNAL  REVENUE
 CODE; OR
   (C)  ANY  ORGANIZATION  THAT IS CONTROLLED, DIRECTLY OR INDIRECTLY, BY
 ONE OR MORE ORGANIZATIONS DESCRIBED IN SUBPARAGRAPH (A) OR (B)  OF  THIS
 PARAGRAPH.
   (D)  MAXIMUM  AMOUNT  OF  CREDITS.  THE  MAXIMUM AMOUNT OF TAX CREDITS
 ALLOWED UNDER THIS SECTION, SUBDIVISION SIXTY  OF  SECTION  TWO  HUNDRED
 TEN-B  AND  SUBSECTION (W) OF SECTION SIX HUNDRED SIX OF THIS CHAPTER IN
 ANY CALENDAR YEAR SHALL BE ONE MILLION DOLLARS PER ELIGIBLE  NEWS  JOUR-
 NALIST EMPLOYER.
   (E)   ADMINISTRATION.   THE   COMMISSIONER  SHALL  ISSUE  SUCH  FORMS,
 INSTRUCTIONS, REGULATIONS, AND GUIDANCE AS ARE NECESSARY:
   (1) TO ALLOW THE ADVANCE PAYMENT OF THE CREDIT UNDER  SUBDIVISION  (A)
 OF  THIS  SECTION,  SUBJECT TO THE LIMITATIONS PROVIDED IN THIS SECTION,
 BASED ON SUCH INFORMATION AS THE COMMISSIONER SHALL REQUIRE;
   (2) TO PROVIDE FOR THE RECONCILIATION OF SUCH ADVANCE PAYMENT WITH THE
 AMOUNT ADVANCED AT THE TIME OF FILING THE RETURN OF TAX FOR THE APPLICA-
 BLE CALENDAR QUARTER OR TAXABLE YEAR; AND
   (3) WITH RESPECT TO THE APPLICATION OF THE  CREDIT  UNDER  SUBDIVISION
 (A)  OF  THIS  SECTION  TO  THIRD-PARTY  PAYORS  (INCLUDING PROFESSIONAL
 EMPLOYER ORGANIZATIONS, CERTIFIED PROFESSIONAL  EMPLOYER  ORGANIZATIONS,
 OR  AGENTS  UNDER  SECTION  3504  OF THE INTERNAL REVENUE CODE OF 1986),
 INCLUDING  REGULATIONS  OR  GUIDANCE  ALLOWING  SUCH  PAYORS  TO  SUBMIT
 DOCUMENTATION  NECESSARY TO SUBSTANTIATE THE ELIGIBLE EMPLOYER STATUS OF
 EMPLOYERS THAT USE SUCH PAYORS.
   (F) TREATMENT OF DEPOSITS. THE COMMISSIONER SHALL  WAIVE  ANY  PENALTY
 UNDER  THIS  CHAPTER FOR ANY FAILURE TO MAKE A DEPOSIT OF ANY APPLICABLE
 S. 625--B                           4
 
 EMPLOYMENT TAXES IF THE COMMISSIONER DETERMINES THAT  SUCH  FAILURE  WAS
 DUE  TO  THE  REASONABLE  ANTICIPATION  OF THE CREDIT ALLOWED UNDER THIS
 SECTION.
   (G)  CROSS-REFERENCES.  FOR  APPLICATION OF THE CREDIT PROVIDED FOR IN
 THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
   (1) ARTICLE 9-A: SECTION 210-B: SUBDIVISION 60.
   (2) ARTICLE 22: SECTION 606: SUBSECTIONS (I) AND (W).
   § 3. Section 210-B of the tax law is amended by adding a new  subdivi-
 sion 60 to read as follows:
   60.  PAYROLL  CREDIT FOR COMPENSATION OF JOURNALISTS. (A) ALLOWANCE OF
 CREDIT. A TAXPAYER WHO IS ELIGIBLE PURSUANT TO SECTION TWENTY-FOUR-D  OF
 THIS  CHAPTER  SHALL  BE  ALLOWED A CREDIT TO BE COMPUTED AS PROVIDED IN
 SUCH SECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (B) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER  THIS  SUBDIVISION
 FOR  ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS
 THAN THE AMOUNT PRESCRIBED  IN  PARAGRAPH  (D)  OF  SUBDIVISION  ONE  OF
 SECTION  TWO HUNDRED TEN OF THIS ARTICLE; PROVIDED, HOWEVER, THAT IF THE
 AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBDIVISION  FOR  ANY  TAXABLE
 YEAR  REDUCES  THE  TAX TO SUCH AMOUNT OR IF THE TAXPAYER OTHERWISE PAYS
 TAX BASED ON THE FIXED DOLLAR MINIMUM AMOUNT, THE EXCESS SHALL BE TREAT-
 ED AS AN OVERPAYMENT OF TAX TO BE CREDITED  OR  REFUNDED  IN  ACCORDANCE
 WITH  THE PROVISIONS OF SECTION ONE THOUSAND EIGHTY-SIX OF THIS CHAPTER;
 AND PROVIDED, FURTHER, THAT THE PROVISIONS OF SUBSECTION (C) OF  SECTION
 ONE  THOUSAND  EIGHTY-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO INTEREST
 SHALL BE PAID THEREON.
   § 4. Section 606 of the tax law is amended by adding a new  subsection
 (w) to read as follows:
   (W)  PAYROLL  CREDIT FOR COMPENSATION OF JOURNALISTS. (1) ALLOWANCE OF
 CREDIT. A TAXPAYER WHO IS ELIGIBLE PURSUANT TO SECTION TWENTY-FOUR-D  OF
 THIS  CHAPTER  SHALL  BE  ALLOWED A CREDIT TO BE COMPUTED AS PROVIDED IN
 SUCH SECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (2) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER
 THIS SUBSECTION FOR ANY TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR SUCH
 YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
 ED OR REFUNDED AS PROVIDED IN SECTION SIX  HUNDRED  EIGHTY-SIX  OF  THIS
 ARTICLE; PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   §  5. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by  adding  a  new  clause  (li)  to  read  as
 follows:
 (LI) PAYROLL CREDIT FOR              AMOUNT OF CREDIT FOR THE SUM OF
 COMPENSATION OF JOURNALISTS          PAYROLL CREDIT FOR COMPENSATION
 UNDER SUBSECTION (W)                 OF JOURNALISTS UNDER SUBDIVISION
                                      SIXTY OF SECTION
                                      TWO HUNDRED TEN-B
   §  6.  This  act  shall take effect immediately and shall apply to tax
 years commencing on and after January 1, 2024; provided that:
   (a) this act shall expire and be deemed repealed January 1, 2029; and
   (b) the expiration and repeal of this act shall not affect  the  proc-
 essing  or  allowance of any tax credit provided in this act for any tax
 year commencing prior to January 1, 2029.
   Effective immediately, the addition, amendment and/or  repeal  of  any
 rule  or  regulation necessary for the implementation of this act on its
 effective date are authorized to be made and completed on or before such
 date.

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  625--C
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 5, 2023
                                ___________
 
 Introduced  by  Sens.  HOYLMAN-SIGAL, ADDABBO, ASHBY, BORRELLO, BRESLIN,
   BROUK, CLEARE, COMRIE, COONEY, HARCKHAM,  HINCHEY,  JACKSON,  KENNEDY,
   LIU,  MANNION,  MYRIE,  PALUMBO,  RIVERA,  SALAZAR,  SERRANO, SKOUFIS,
   STAVISKY -- read twice and ordered printed, and  when  printed  to  be
   committed  to  the  Committee  on  Budget  and  Revenue  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee  --  committee  discharged,  bill  amended,  ordered
   reprinted  as amended and recommitted to said committee -- recommitted
   to the Committee on Budget and Revenue 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  providing  a  payroll  tax
   credit  for compensation of journalists; and to provide 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.  This  act  shall  be known and may be cited as the "local
 journalism sustainability act".
   § 2. The tax law is amended by adding a new section 24-d  to  read  as
 follows:
   §  24-D. PAYROLL CREDIT FOR COMPENSATION OF JOURNALISTS. (A) IN GENER-
 AL.  AN ELIGIBLE NEWS JOURNALIST EMPLOYER WHICH IS SUBJECT TO TAX  UNDER
 ARTICLE  NINE-A  OR TWENTY-TWO OF THIS CHAPTER SHALL BE ALLOWED A CREDIT
 AGAINST SUCH TAX, TO BE COMPUTED AS PROVIDED IN THIS SECTION,  FOR  EACH
 CALENDAR  QUARTER  AN AMOUNT EQUAL TO THE APPLICABLE PERCENTAGE OF WAGES
 PAID BY SUCH EMPLOYER TO NEWS JOURNALISTS FOR SUCH CALENDAR QUARTER.
   (B) LIMITATIONS.  (1) THE AMOUNT OF WAGES PAID  WITH  RESPECT  TO  ANY
 INDIVIDUAL WHICH MAY BE TAKEN INTO ACCOUNT UNDER SUBDIVISION (A) OF THIS
 SECTION  DURING  ANY  CALENDAR  QUARTER  BY THE ELIGIBLE NEWS JOURNALIST
 EMPLOYER SHALL NOT EXCEED TWELVE THOUSAND FIVE HUNDRED  DOLLARS.  CREDIT
 IS  ALLOWED  FOR  INDIVIDUALS PAID IN EXCESS OF THIS AMOUNT BUT SHALL BE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02644-10-4
              

 S. 625--C                           2
 
 LIMITED TO A PORTION OF THE  WAGES  PAID  UP  TO  TWELVE  THOUSAND  FIVE
 HUNDRED DOLLARS PER QUARTER.
   (2)  THE PROVISIONS OF THIS SECTION SHALL ONLY APPLY TO THE FIRST FOUR
 CALENDAR QUARTERS BEGINNING AFTER THE EFFECTIVE DATE OF THIS SECTION.
   (3) THIS SECTION SHALL NOT APPLY WITH RESPECT  TO  ANY  ELIGIBLE  NEWS
 JOURNALIST EMPLOYER FOR ANY CALENDAR QUARTER IF SUCH EMPLOYER ELECTS (AT
 SUCH  TIME  AND IN SUCH MANNER AS THE COMMISSIONER MAY PRESCRIBE) NOT TO
 HAVE THIS SECTION APPLY.
   (4) ANY WAGES TAKEN INTO ACCOUNT IN  DETERMINING  THE  CREDIT  ALLOWED
 UNDER  THIS  SECTION  SHALL  NOT  BE  TAKEN INTO ACCOUNT FOR PURPOSES OF
 DETERMINING ANY OTHER CREDIT ALLOWED UNDER THIS CHAPTER.
   (5) THE CREDIT ALLOWABLE UNDER THIS SECTION SHALL BE ALLOWABLE  FOR  A
 PERIOD  OF  ONE  YEAR FROM THE EFFECTIVE DATE OF THIS SECTION. NO CREDIT
 SHALL BE ALLOWED UNDER THIS SECTION FOR ANY AMOUNT PAID OR  INCURRED  BY
 THE  TAXPAYER  IN  A TAXABLE YEAR COMMENCING AFTER THE CLOSE OF THE ONE-
 YEAR PERIOD. NO CREDIT SHALL BE  ALLOWED  UNDER  THIS  SECTION  FOR  ANY
 PORTION  OF AN AMOUNT PAID OR INCURRED BY THE TAXPAYER IN A TAXABLE YEAR
 FOR ANY WAGES THAT EXTEND BEYOND THE CLOSE OF THE ONE-YEAR PERIOD BEGIN-
 NING ON THE EFFECTIVE DATE OF THIS SECTION.
   (C) DEFINITIONS. AS USED IN THIS SECTION, THE  FOLLOWING  TERMS  SHALL
 HAVE THE FOLLOWING MEANINGS:
   (1) "APPLICABLE PERCENTAGE" MEANS FIFTY PERCENT.
   (2) (A) "ELIGIBLE NEWS JOURNALIST EMPLOYER" MEANS, WITH RESPECT TO ANY
 CALENDAR QUARTER, ANY EMPLOYER WHICH: (I) IS A QUALIFYING PUBLICATION OR
 A QUALIFYING BROADCAST STATION; (II) EMPLOYS NEWS JOURNALISTS; AND (III)
 EMPLOYS A TOTAL OF ONE HUNDRED EMPLOYEES OR FEWER.
   (B)  ALL  PERSONS TREATED AS A SINGLE EMPLOYER UNDER SUBSECTION (A) OR
 (B) OF SECTION 52 OF THE INTERNAL REVENUE CODE OF  1986,  OR  SUBSECTION
 (M) OR (O) OF SECTION 414 OF SUCH CODE, SHALL BE TREATED AS ONE EMPLOYER
 FOR  PURPOSES  OF THIS PARAGRAPH; PROVIDED THAT EACH FCC LICENSED BROAD-
 CAST STATION OR QUALIFYING PUBLICATION WHICH SERVES  A  SEPARATE  MARKET
 SHALL  BE  TREATED AS A SEPARATE AND SINGLE NEWS JOURNALIST EMPLOYER FOR
 THE PURPOSES OF THIS TAX CREDIT.
   (3) (A) "QUALIFYING BROADCAST STATION"  MEANS,  WITH  RESPECT  TO  ANY
 CALENDAR QUARTER, ANY EMPLOYER WHICH:
   (I)  PROVIDES  LOCAL  COMMUNITY  NEWS,  WHICH  IS BROADCAST DURING THE
 CALENDAR QUARTER AND HAS BEEN BROADCAST DURING EACH OF THE FOUR CALENDAR
 QUARTERS PRECEDING SUCH CALENDAR QUARTER;
   (II) OWNS OR OPERATES A BROADCAST STATION, AS DEFINED BY SECTION THREE
 OF THE FEDERAL COMMUNICATIONS ACT OF 1934;
   (III) IS NOT A DISQUALIFIED ORGANIZATION;
   (IV) DID NOT DERIVE MORE THAN FIFTY PERCENT OF ITS GROSS RECEIPTS  FOR
 SUCH CALENDAR QUARTER FROM DISQUALIFIED ORGANIZATIONS; AND
   (V)  DISCLOSES  ITS  OWNERSHIP TO THE PUBLIC AT SUCH TIMES AND IN SUCH
 MANNER AS IDENTIFIED BY THE COMMISSIONER.
   (B) FOR PURPOSES OF THIS PARAGRAPH EACH FCC LICENSED BROADCAST STATION
 SERVING A SEPARATE MARKET SHALL BE TREATED AS A SEPARATE AND SINGLE NEWS
 JOURNALIST EMPLOYER.
   (4) "NEWS JOURNALIST" MEANS, WITH RESPECT TO ANY ELIGIBLE  NEWS  JOUR-
 NALIST FOR ANY CALENDAR QUARTER, ANY FULL TIME EMPLOYEE WHO (A) PROVIDES
 QUALIFIED SERVICES FOR AN AVERAGE OF NOT LESS THAN THIRTY HOURS PER WEEK
 FOR  EACH  WEEK  DURING  WHICH SUCH EMPLOYEE IS EMPLOYED BY THE ELIGIBLE
 NEWS JOURNALIST EMPLOYER DURING THE CALENDAR QUARTER,  AND  (B)  RESIDES
 WITHIN  THE  DESIGNATED  BROADCAST  MARKET  OR  FIFTY MILES OF THE LOCAL
 COMMUNITY WITH RESPECT  TO  THE  QUALIFYING  PUBLICATION  OR  QUALIFYING
 S. 625--C                           3
 
 BROADCAST  STATION  WITH  RESPECT  TO  WHICH  THE QUALIFIED SERVICES ARE
 PROVIDED.
   (5)  "QUALIFIED  SERVICES"  MEANS SERVICES WHICH CONSIST OF GATHERING,
 PREPARING, DIRECTING THE RECORDING OF, PRODUCING,  COLLECTING,    PHOTO-
 GRAPHING,    RECORDING,    WRITING,    EDITING, REPORTING, PRESENTING OR
 PUBLISHING ORIGINAL NEWS FOR DISSEMINATION TO THE LOCAL COMMUNITY.
   (6) "QUALIFYING PUBLICATION" MEANS, WITH RESPECT TO ANY CALENDAR QUAR-
 TER, ANY PRINT OR DIGITAL PUBLICATION:
   (A) WHICH PROVIDES LOCAL COMMUNITY NEWS, WHICH IS PUBLISHED DURING THE
 CALENDAR QUARTER AND HAS BEEN PUBLISHED DURING EACH OF THE FOUR CALENDAR
 QUARTERS PRECEDING SUCH CALENDAR QUARTER;
   (B) IS NOT A DISQUALIFIED ORGANIZATION;
   (C) DID NOT DERIVE MORE THAN FIFTY PERCENT OF ITS GROSS  RECEIPTS  FOR
 SUCH CALENDAR QUARTER FROM DISQUALIFIED ORGANIZATIONS;
   (D)  WHICH  IS  COVERED BY MEDIA LIABILITY INSURANCE FOR SUCH CALENDAR
 QUARTER; AND
   (E) WHICH PUBLISHES THE OWNER'S NAME PURSUANT TO SECTION THREE HUNDRED
 THIRTY OF THE GENERAL BUSINESS LAW, PROVIDED THAT A DIGITAL  PUBLICATION
 SHALL PUBLISH THE INFORMATION REQUIRED BY SUCH SECTION ON THE WEBSITE OF
 SUCH PUBLICATION.
   (7) (A) "LOCAL COMMUNITY" MEANS, WITH RESPECT TO ANY QUALIFYING PUBLI-
 CATION, A GEOGRAPHICALLY CONTIGUOUS AREA THAT DOES NOT EXCEED THE BOUND-
 ARIES OF:
   (I)  THE  METROPOLITAN OR MICROPOLITAN STATISTICAL AREA, AS DEFINED BY
 THE FEDERAL OFFICE OF MANAGEMENT AND BUDGET,  IN  WHICH  THE  QUALIFYING
 PUBLICATION IS PRIMARILY DISTRIBUTED;
   (II)  IF SUCH QUALIFYING PUBLICATION IS NOT PRIMARILY DISTRIBUTED IN A
 METROPOLITAN OR MICROPOLITAN STATISTICAL AREA, THE COUNTY IN WHICH  SUCH
 QUALIFYING PUBLICATION IS PRIMARILY DISTRIBUTED; OR
   (III) IF SUCH QUALIFYING PUBLICATION IS NOT PRIMARILY DISTRIBUTED IN A
 METROPOLITAN OR MICROPOLITAN STATISTICAL AREA OR A COUNTY, THE STATE.
   (B) A DIGITAL PUBLICATION SHALL BE CONSIDERED TO BE PRIMARILY DISTRIB-
 UTED  IN  THE  AREA  WHERE  SUCH PUBLICATION IS INTENDED TO BE PRIMARILY
 CONSUMED.
   (8) "DISQUALIFIED ORGANIZATION" MEANS:
   (A) ANY ORGANIZATION DESCRIBED IN SECTION 501(C)(4)  OF  THE  INTERNAL
 REVENUE CODE AND EXEMPT FROM TAX UNDER SECTION 501(A) OF SUCH CODE;
   (B)  ANY ORGANIZATION DESCRIBED IN SECTION 527 OF THE INTERNAL REVENUE
 CODE; OR
   (C) ANY ORGANIZATION THAT IS CONTROLLED, DIRECTLY  OR  INDIRECTLY,  BY
 ONE  OR  MORE ORGANIZATIONS DESCRIBED IN SUBPARAGRAPH (A) OR (B) OF THIS
 PARAGRAPH.
   (D) MAXIMUM AMOUNT OF CREDITS.  THE  MAXIMUM  AMOUNT  OF  TAX  CREDITS
 ALLOWED  UNDER  THIS  SECTION,  SUBDIVISION SIXTY OF SECTION TWO HUNDRED
 TEN-B AND SUBSECTION (W) OF SECTION SIX HUNDRED SIX OF THIS  CHAPTER  IN
 ANY  CALENDAR  YEAR  SHALL  BE TWO HUNDRED THOUSAND DOLLARS PER ELIGIBLE
 NEWS JOURNALIST EMPLOYER. THE MAXIMUM  AMOUNT  OF  TAX  CREDITS  ALLOWED
 UNDER  THIS  SECTION, SUBDIVISION SIXTY OF SECTION TWO HUNDRED TEN-B AND
 SUBSECTION (W) OF SECTION SIX  HUNDRED  SIX  OF  THIS  CHAPTER  FOR  ALL
 TAXPAYERS IN THE STATE IS TWENTY MILLION DOLLARS.
   (E)   ADMINISTRATION.   THE   COMMISSIONER  SHALL  ISSUE  SUCH  FORMS,
 INSTRUCTIONS, REGULATIONS, AND GUIDANCE AS ARE NECESSARY:
   (1) TO ALLOW THE ADVANCE PAYMENT OF THE CREDIT UNDER  SUBDIVISION  (A)
 OF  THIS  SECTION,  SUBJECT TO THE LIMITATIONS PROVIDED IN THIS SECTION,
 BASED ON SUCH INFORMATION AS THE COMMISSIONER SHALL REQUIRE;
 S. 625--C                           4
 
   (2) TO PROVIDE FOR THE RECONCILIATION OF SUCH ADVANCE PAYMENT WITH THE
 AMOUNT ADVANCED AT THE TIME OF FILING THE RETURN OF TAX FOR THE APPLICA-
 BLE CALENDAR QUARTER OR TAXABLE YEAR; AND
   (3)  WITH  RESPECT  TO THE APPLICATION OF THE CREDIT UNDER SUBDIVISION
 (A) OF  THIS  SECTION  TO  THIRD-PARTY  PAYORS  (INCLUDING  PROFESSIONAL
 EMPLOYER  ORGANIZATIONS,  CERTIFIED PROFESSIONAL EMPLOYER ORGANIZATIONS,
 OR AGENTS UNDER SECTION 3504 OF THE  INTERNAL  REVENUE  CODE  OF  1986),
 INCLUDING  REGULATIONS  OR  GUIDANCE  ALLOWING  SUCH  PAYORS  TO  SUBMIT
 DOCUMENTATION NECESSARY TO SUBSTANTIATE THE ELIGIBLE EMPLOYER STATUS  OF
 EMPLOYERS THAT USE SUCH PAYORS.
   (F)  TREATMENT  OF  DEPOSITS. THE COMMISSIONER SHALL WAIVE ANY PENALTY
 UNDER THIS CHAPTER FOR ANY FAILURE TO MAKE A DEPOSIT OF  ANY  APPLICABLE
 EMPLOYMENT  TAXES  IF  THE COMMISSIONER DETERMINES THAT SUCH FAILURE WAS
 DUE TO THE REASONABLE ANTICIPATION OF  THE  CREDIT  ALLOWED  UNDER  THIS
 SECTION.
   (G)  CROSS-REFERENCES.  FOR  APPLICATION OF THE CREDIT PROVIDED FOR IN
 THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
   (1) ARTICLE 9-A: SECTION 210-B: SUBDIVISION 60.
   (2) ARTICLE 22: SECTION 606: SUBSECTIONS (I) AND (W).
   § 3. Section 210-B of the tax law is amended by adding a new  subdivi-
 sion 60 to read as follows:
   60.  PAYROLL  CREDIT FOR COMPENSATION OF JOURNALISTS. (A) ALLOWANCE OF
 CREDIT. A TAXPAYER WHO IS ELIGIBLE PURSUANT TO SECTION TWENTY-FOUR-D  OF
 THIS  CHAPTER  SHALL  BE  ALLOWED A CREDIT TO BE COMPUTED AS PROVIDED IN
 SUCH SECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (B) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER  THIS  SUBDIVISION
 FOR  ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS
 THAN THE AMOUNT PRESCRIBED  IN  PARAGRAPH  (D)  OF  SUBDIVISION  ONE  OF
 SECTION  TWO HUNDRED TEN OF THIS ARTICLE; PROVIDED, HOWEVER, THAT IF THE
 AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBDIVISION  FOR  ANY  TAXABLE
 YEAR  REDUCES  THE  TAX TO SUCH AMOUNT OR IF THE TAXPAYER OTHERWISE PAYS
 TAX BASED ON THE FIXED DOLLAR MINIMUM AMOUNT, THE EXCESS SHALL BE TREAT-
 ED AS AN OVERPAYMENT OF TAX TO BE CREDITED  OR  REFUNDED  IN  ACCORDANCE
 WITH  THE PROVISIONS OF SECTION ONE THOUSAND EIGHTY-SIX OF THIS CHAPTER;
 AND PROVIDED, FURTHER, THAT THE PROVISIONS OF SUBSECTION (C) OF  SECTION
 ONE  THOUSAND  EIGHTY-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO INTEREST
 SHALL BE PAID THEREON.
   § 4. Section 606 of the tax law is amended by adding a new  subsection
 (w) to read as follows:
   (W)  PAYROLL  CREDIT FOR COMPENSATION OF JOURNALISTS. (1) ALLOWANCE OF
 CREDIT. A TAXPAYER WHO IS ELIGIBLE PURSUANT TO SECTION TWENTY-FOUR-D  OF
 THIS  CHAPTER  SHALL  BE  ALLOWED A CREDIT TO BE COMPUTED AS PROVIDED IN
 SUCH SECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (2) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER
 THIS SUBSECTION FOR ANY TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR SUCH
 YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
 ED OR REFUNDED AS PROVIDED IN SECTION SIX  HUNDRED  EIGHTY-SIX  OF  THIS
 ARTICLE; PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   §  5. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by  adding  a  new  clause  (li)  to  read  as
 follows:
 (LI) PAYROLL CREDIT FOR              AMOUNT OF CREDIT FOR THE SUM OF
 COMPENSATION OF JOURNALISTS          PAYROLL CREDIT FOR COMPENSATION
 UNDER SUBSECTION (W)                 OF JOURNALISTS UNDER SUBDIVISION
                                      SIXTY OF SECTION
                                      TWO HUNDRED TEN-B
 S. 625--C                           5
 
   §  6.  This  act  shall take effect immediately and shall apply to tax
 years commencing on and after January 1, 2024; provided that:
   (a) this act shall expire and be deemed repealed January 1, 2029; and
   (b)  the  expiration and repeal of this act shall not affect the proc-
 essing or allowance of any tax credit provided in this act for  any  tax
 year commencing prior to January 1, 2029.
   Effective  immediately,  the  addition, amendment and/or repeal of any
 rule or regulation necessary for the implementation of this act  on  its
 effective date are authorized to be made and completed on or before such
 date.

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  625--D
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 5, 2023
                                ___________
 
 Introduced  by  Sens.  HOYLMAN-SIGAL, ADDABBO, ASHBY, BORRELLO, BRESLIN,
   BROUK, CHU, CLEARE,  COMRIE,  COONEY,  FERNANDEZ,  HARCKHAM,  HINCHEY,
   JACKSON,  KENNEDY,  LIU,  MANNION,  MARTINEZ,  MYRIE, PALUMBO, RIVERA,
   SALAZAR, SEPULVEDA, SERRANO,  SKOUFIS,  STAVISKY  --  read  twice  and
   ordered  printed, and when printed to be committed to the Committee on
   Budget and Revenue --  committee  discharged,  bill  amended,  ordered
   reprinted  as  amended  and recommitted to said committee -- committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee -- recommitted to the Committee on Budget and Reven-
   ue in accordance with Senate Rule 6, sec. 8 --  committee  discharged,
   bill  amended,  ordered  reprinted  as amended and recommitted to said
   committee -- committee discharged, bill amended, ordered reprinted  as
   amended and recommitted to said committee
 
 AN  ACT  to  amend  the  tax law, in relation to providing a payroll tax
   credit for compensation of journalists; 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. This act shall be known and may  be  cited  as  the  "local
 journalism sustainability act".
   §  2.  The  tax law is amended by adding a new section 24-d to read as
 follows:
   § 24-D. PAYROLL CREDIT FOR COMPENSATION OF JOURNALISTS. (A) IN  GENER-
 AL.   AN ELIGIBLE NEWS JOURNALIST EMPLOYER WHICH IS SUBJECT TO TAX UNDER
 ARTICLE NINE-A OR TWENTY-TWO OF THIS CHAPTER SHALL BE ALLOWED  A  CREDIT
 AGAINST  SUCH  TAX, TO BE COMPUTED AS PROVIDED IN THIS SECTION, FOR EACH
 CALENDAR QUARTER AN AMOUNT EQUAL TO THE APPLICABLE PERCENTAGE  OF  WAGES
 PAID BY SUCH EMPLOYER TO NEWS JOURNALISTS FOR SUCH CALENDAR QUARTER.
   (B)  LIMITATIONS.    (1)  THE AMOUNT OF WAGES PAID WITH RESPECT TO ANY
 INDIVIDUAL WHICH MAY BE TAKEN INTO ACCOUNT UNDER SUBDIVISION (A) OF THIS
 SECTION DURING ANY CALENDAR QUARTER  BY  THE  ELIGIBLE  NEWS  JOURNALIST
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02644-12-4
              

 S. 625--D                           2
 
 EMPLOYER  SHALL  NOT EXCEED TWELVE THOUSAND FIVE HUNDRED DOLLARS. CREDIT
 IS ALLOWED FOR INDIVIDUALS PAID IN EXCESS OF THIS AMOUNT  BUT  SHALL  BE
 LIMITED  TO  A  PORTION  OF  THE  WAGES  PAID UP TO TWELVE THOUSAND FIVE
 HUNDRED DOLLARS PER QUARTER.
   (2)  THE PROVISIONS OF THIS SECTION SHALL ONLY APPLY TO THE FIRST FOUR
 CALENDAR QUARTERS BEGINNING AFTER THE EFFECTIVE DATE OF THIS SECTION.
   (3) THIS SECTION SHALL NOT APPLY WITH RESPECT  TO  ANY  ELIGIBLE  NEWS
 JOURNALIST EMPLOYER FOR ANY CALENDAR QUARTER IF SUCH EMPLOYER ELECTS (AT
 SUCH  TIME  AND IN SUCH MANNER AS THE COMMISSIONER MAY PRESCRIBE) NOT TO
 HAVE THIS SECTION APPLY.
   (4) ANY WAGES TAKEN INTO ACCOUNT IN  DETERMINING  THE  CREDIT  ALLOWED
 UNDER  THIS  SECTION  SHALL  NOT  BE  TAKEN INTO ACCOUNT FOR PURPOSES OF
 DETERMINING ANY OTHER CREDIT ALLOWED UNDER THIS CHAPTER.
   (5) THE CREDIT ALLOWABLE UNDER THIS SECTION SHALL BE ALLOWABLE  FOR  A
 PERIOD  OF  ONE  YEAR FROM THE EFFECTIVE DATE OF THIS SECTION. NO CREDIT
 SHALL BE ALLOWED UNDER THIS SECTION FOR ANY AMOUNT PAID OR  INCURRED  BY
 THE  TAXPAYER  IN  A TAXABLE YEAR COMMENCING AFTER THE CLOSE OF THE ONE-
 YEAR PERIOD. NO CREDIT SHALL BE  ALLOWED  UNDER  THIS  SECTION  FOR  ANY
 PORTION  OF AN AMOUNT PAID OR INCURRED BY THE TAXPAYER IN A TAXABLE YEAR
 FOR ANY WAGES THAT EXTEND BEYOND THE CLOSE OF THE ONE-YEAR PERIOD BEGIN-
 NING ON THE EFFECTIVE DATE OF THIS SECTION.
   (C) DEFINITIONS. AS USED IN THIS SECTION, THE  FOLLOWING  TERMS  SHALL
 HAVE THE FOLLOWING MEANINGS:
   (1) "APPLICABLE PERCENTAGE" MEANS FIFTY PERCENT.
   (2) (A) "ELIGIBLE NEWS JOURNALIST EMPLOYER" MEANS, WITH RESPECT TO ANY
 CALENDAR QUARTER, ANY EMPLOYER WHICH: (I) IS A QUALIFYING PUBLICATION OR
 A QUALIFYING BROADCAST STATION; (II) EMPLOYS NEWS JOURNALISTS; AND (III)
 EMPLOYS A TOTAL OF ONE HUNDRED EMPLOYEES OR FEWER.
   (B)  ALL  PERSONS TREATED AS A SINGLE EMPLOYER UNDER SUBSECTION (A) OR
 (B) OF SECTION 52 OF THE INTERNAL REVENUE CODE OF  1986,  OR  SUBSECTION
 (M) OR (O) OF SECTION 414 OF SUCH CODE, SHALL BE TREATED AS ONE EMPLOYER
 FOR  PURPOSES  OF THIS PARAGRAPH; PROVIDED THAT EACH FCC LICENSED BROAD-
 CAST STATION OR QUALIFYING PUBLICATION WHICH SERVES  A  SEPARATE  MARKET
 SHALL  BE  TREATED AS A SEPARATE AND SINGLE NEWS JOURNALIST EMPLOYER FOR
 THE PURPOSES OF THIS TAX CREDIT.
   (3) (A) "QUALIFYING BROADCAST STATION"  MEANS,  WITH  RESPECT  TO  ANY
 CALENDAR QUARTER, ANY EMPLOYER WHICH:
   (I)  PROVIDES  LOCAL  COMMUNITY  NEWS,  WHICH  IS BROADCAST DURING THE
 CALENDAR QUARTER AND HAS BEEN BROADCAST DURING EACH OF THE FOUR CALENDAR
 QUARTERS PRECEDING SUCH CALENDAR QUARTER;
   (II) OWNS OR OPERATES A BROADCAST STATION, AS DEFINED BY SECTION THREE
 OF THE FEDERAL COMMUNICATIONS ACT OF 1934;
   (III) IS NOT A DISQUALIFIED ORGANIZATION;
   (IV) DID NOT DERIVE MORE THAN FIFTY PERCENT OF ITS GROSS RECEIPTS  FOR
 SUCH CALENDAR QUARTER FROM DISQUALIFIED ORGANIZATIONS; AND
   (V)  DISCLOSES  ITS  OWNERSHIP TO THE PUBLIC AT SUCH TIMES AND IN SUCH
 MANNER AS IDENTIFIED BY THE COMMISSIONER.
   (B) FOR PURPOSES OF THIS PARAGRAPH EACH FCC LICENSED BROADCAST STATION
 SERVING A SEPARATE MARKET SHALL BE TREATED AS A SEPARATE AND SINGLE NEWS
 JOURNALIST EMPLOYER.
   (4) "NEWS JOURNALIST" MEANS, WITH RESPECT TO ANY ELIGIBLE  NEWS  JOUR-
 NALIST FOR ANY CALENDAR QUARTER, ANY FULL TIME EMPLOYEE WHO (A) PROVIDES
 QUALIFIED SERVICES FOR AN AVERAGE OF NOT LESS THAN THIRTY HOURS PER WEEK
 FOR  EACH  WEEK  DURING  WHICH SUCH EMPLOYEE IS EMPLOYED BY THE ELIGIBLE
 NEWS JOURNALIST EMPLOYER DURING THE CALENDAR QUARTER,  AND  (B)  RESIDES
 WITHIN  THE  DESIGNATED  BROADCAST  MARKET  OR  FIFTY MILES OF THE LOCAL
 S. 625--D                           3
 
 COMMUNITY WITH RESPECT  TO  THE  QUALIFYING  PUBLICATION  OR  QUALIFYING
 BROADCAST  STATION  WITH  RESPECT  TO  WHICH  THE QUALIFIED SERVICES ARE
 PROVIDED.
   (5)  "QUALIFIED  SERVICES"  MEANS SERVICES WHICH CONSIST OF GATHERING,
 PREPARING, DIRECTING THE RECORDING OF, PRODUCING,  COLLECTING,    PHOTO-
 GRAPHING,    RECORDING,    WRITING,    EDITING, REPORTING, PRESENTING OR
 PUBLISHING ORIGINAL NEWS FOR DISSEMINATION TO THE LOCAL COMMUNITY.
   (6) "QUALIFYING PUBLICATION" MEANS, WITH RESPECT TO ANY CALENDAR QUAR-
 TER, ANY PRINT OR DIGITAL PUBLICATION:
   (A) WHICH PROVIDES LOCAL COMMUNITY NEWS, WHICH IS PUBLISHED DURING THE
 CALENDAR QUARTER AND HAS BEEN PUBLISHED DURING EACH OF THE FOUR CALENDAR
 QUARTERS PRECEDING SUCH CALENDAR QUARTER;
   (B) IS NOT A DISQUALIFIED ORGANIZATION;
   (C) DID NOT DERIVE MORE THAN FIFTY PERCENT OF ITS GROSS  RECEIPTS  FOR
 SUCH CALENDAR QUARTER FROM DISQUALIFIED ORGANIZATIONS;
   (D)  WHICH  IS  COVERED BY MEDIA LIABILITY INSURANCE FOR SUCH CALENDAR
 QUARTER; AND
   (E) WHICH PUBLISHES THE OWNER'S NAME PURSUANT TO SECTION THREE HUNDRED
 THIRTY OF THE GENERAL BUSINESS LAW, PROVIDED THAT A DIGITAL  PUBLICATION
 SHALL PUBLISH THE INFORMATION REQUIRED BY SUCH SECTION ON THE WEBSITE OF
 SUCH PUBLICATION.
   (7) (A) "LOCAL COMMUNITY" MEANS, WITH RESPECT TO ANY QUALIFYING PUBLI-
 CATION, A GEOGRAPHICALLY CONTIGUOUS AREA THAT DOES NOT EXCEED THE BOUND-
 ARIES OF:
   (I)  THE  METROPOLITAN OR MICROPOLITAN STATISTICAL AREA, AS DEFINED BY
 THE FEDERAL OFFICE OF MANAGEMENT AND BUDGET,  IN  WHICH  THE  QUALIFYING
 PUBLICATION IS PRIMARILY DISTRIBUTED;
   (II)  IF SUCH QUALIFYING PUBLICATION IS NOT PRIMARILY DISTRIBUTED IN A
 METROPOLITAN OR MICROPOLITAN STATISTICAL AREA, THE COUNTY IN WHICH  SUCH
 QUALIFYING PUBLICATION IS PRIMARILY DISTRIBUTED; OR
   (III) IF SUCH QUALIFYING PUBLICATION IS NOT PRIMARILY DISTRIBUTED IN A
 METROPOLITAN OR MICROPOLITAN STATISTICAL AREA OR A COUNTY, THE STATE.
   (B) A DIGITAL PUBLICATION SHALL BE CONSIDERED TO BE PRIMARILY DISTRIB-
 UTED  IN  THE  AREA  WHERE  SUCH PUBLICATION IS INTENDED TO BE PRIMARILY
 CONSUMED.
   (8) "DISQUALIFIED ORGANIZATION" MEANS:
   (A) ANY ORGANIZATION DESCRIBED IN SECTION 501(C)(4)  OF  THE  INTERNAL
 REVENUE CODE AND EXEMPT FROM TAX UNDER SECTION 501(A) OF SUCH CODE;
   (B)  ANY ORGANIZATION DESCRIBED IN SECTION 527 OF THE INTERNAL REVENUE
 CODE; OR
   (C) ANY ORGANIZATION THAT IS CONTROLLED, DIRECTLY  OR  INDIRECTLY,  BY
 ONE  OR  MORE ORGANIZATIONS DESCRIBED IN SUBPARAGRAPH (A) OR (B) OF THIS
 PARAGRAPH.
   (D) MAXIMUM AMOUNT OF CREDITS.  THE  MAXIMUM  AMOUNT  OF  TAX  CREDITS
 ALLOWED  UNDER  THIS  SECTION,  SUBDIVISION SIXTY OF SECTION TWO HUNDRED
 TEN-B AND SUBSECTION (W) OF SECTION SIX HUNDRED SIX OF THIS  CHAPTER  IN
 ANY  CALENDAR  YEAR  SHALL  BE TWO HUNDRED THOUSAND DOLLARS PER ELIGIBLE
 NEWS JOURNALIST EMPLOYER. THE MAXIMUM  AMOUNT  OF  TAX  CREDITS  ALLOWED
 UNDER  THIS  SECTION, SUBDIVISION SIXTY OF SECTION TWO HUNDRED TEN-B AND
 SUBSECTION (W) OF SECTION SIX  HUNDRED  SIX  OF  THIS  CHAPTER  FOR  ALL
 TAXPAYERS IN THE STATE IS TWENTY MILLION DOLLARS.
   (E)   ADMINISTRATION.   THE   COMMISSIONER  SHALL  ISSUE  SUCH  FORMS,
 INSTRUCTIONS, REGULATIONS, AND GUIDANCE AS ARE NECESSARY:
   (1) TO ALLOW THE ADVANCE PAYMENT OF THE CREDIT UNDER  SUBDIVISION  (A)
 OF  THIS  SECTION,  SUBJECT TO THE LIMITATIONS PROVIDED IN THIS SECTION,
 BASED ON SUCH INFORMATION AS THE COMMISSIONER SHALL REQUIRE;
 S. 625--D                           4
 
   (2) TO PROVIDE FOR THE RECONCILIATION OF SUCH ADVANCE PAYMENT WITH THE
 AMOUNT ADVANCED AT THE TIME OF FILING THE RETURN OF TAX FOR THE APPLICA-
 BLE CALENDAR QUARTER OR TAXABLE YEAR; AND
   (3)  WITH  RESPECT  TO THE APPLICATION OF THE CREDIT UNDER SUBDIVISION
 (A) OF  THIS  SECTION  TO  THIRD-PARTY  PAYORS  (INCLUDING  PROFESSIONAL
 EMPLOYER  ORGANIZATIONS,  CERTIFIED PROFESSIONAL EMPLOYER ORGANIZATIONS,
 OR AGENTS UNDER SECTION 3504 OF THE  INTERNAL  REVENUE  CODE  OF  1986),
 INCLUDING  REGULATIONS  OR  GUIDANCE  ALLOWING  SUCH  PAYORS  TO  SUBMIT
 DOCUMENTATION NECESSARY TO SUBSTANTIATE THE ELIGIBLE EMPLOYER STATUS  OF
 EMPLOYERS THAT USE SUCH PAYORS.
   (F)  TREATMENT  OF  DEPOSITS. THE COMMISSIONER SHALL WAIVE ANY PENALTY
 UNDER THIS CHAPTER FOR ANY FAILURE TO MAKE A DEPOSIT OF  ANY  APPLICABLE
 EMPLOYMENT  TAXES  IF  THE COMMISSIONER DETERMINES THAT SUCH FAILURE WAS
 DUE TO THE REASONABLE ANTICIPATION OF  THE  CREDIT  ALLOWED  UNDER  THIS
 SECTION.
   (G)  CROSS-REFERENCES.  FOR  APPLICATION OF THE CREDIT PROVIDED FOR IN
 THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
   (1) ARTICLE 9-A: SECTION 210-B: SUBDIVISION 60.
   (2) ARTICLE 22: SECTION 606: SUBSECTIONS (I) AND (W).
   § 3. Section 210-B of the tax law is amended by adding a new  subdivi-
 sion 60 to read as follows:
   60.  PAYROLL  CREDIT FOR COMPENSATION OF JOURNALISTS. (A) ALLOWANCE OF
 CREDIT. A TAXPAYER WHO IS ELIGIBLE PURSUANT TO SECTION TWENTY-FOUR-D  OF
 THIS  CHAPTER  SHALL  BE  ALLOWED A CREDIT TO BE COMPUTED AS PROVIDED IN
 SUCH SECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (B) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER  THIS  SUBDIVISION
 FOR  ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS
 THAN THE AMOUNT PRESCRIBED  IN  PARAGRAPH  (D)  OF  SUBDIVISION  ONE  OF
 SECTION  TWO HUNDRED TEN OF THIS ARTICLE; PROVIDED, HOWEVER, THAT IF THE
 AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBDIVISION  FOR  ANY  TAXABLE
 YEAR  REDUCES  THE  TAX TO SUCH AMOUNT OR IF THE TAXPAYER OTHERWISE PAYS
 TAX BASED ON THE FIXED DOLLAR MINIMUM AMOUNT, THE EXCESS SHALL BE TREAT-
 ED AS AN OVERPAYMENT OF TAX TO BE CREDITED  OR  REFUNDED  IN  ACCORDANCE
 WITH  THE PROVISIONS OF SECTION ONE THOUSAND EIGHTY-SIX OF THIS CHAPTER;
 AND PROVIDED, FURTHER, THAT THE PROVISIONS OF SUBSECTION (C) OF  SECTION
 ONE  THOUSAND  EIGHTY-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO INTEREST
 SHALL BE PAID THEREON.
   § 4. Section 606 of the tax law is amended by adding a new  subsection
 (w) to read as follows:
   (W)  PAYROLL  CREDIT FOR COMPENSATION OF JOURNALISTS. (1) ALLOWANCE OF
 CREDIT. A TAXPAYER WHO IS ELIGIBLE PURSUANT TO SECTION TWENTY-FOUR-D  OF
 THIS  CHAPTER  SHALL  BE  ALLOWED A CREDIT TO BE COMPUTED AS PROVIDED IN
 SUCH SECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (2) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER
 THIS SUBSECTION FOR ANY TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR SUCH
 YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
 ED OR REFUNDED AS PROVIDED IN SECTION SIX  HUNDRED  EIGHTY-SIX  OF  THIS
 ARTICLE; PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   §  5. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by  adding  a  new  clause  (li)  to  read  as
 follows:
 (LI) PAYROLL CREDIT FOR              AMOUNT OF CREDIT FOR THE SUM OF
 COMPENSATION OF JOURNALISTS          PAYROLL CREDIT FOR COMPENSATION
 UNDER SUBSECTION (W)                 OF JOURNALISTS UNDER SUBDIVISION
                                      SIXTY OF SECTION
                                      TWO HUNDRED TEN-B
 S. 625--D                           5
 
   §  6.  This  act  shall take effect immediately and shall apply to tax
 years commencing on and after January 1, 2024; provided that:
   (a) this act shall expire and be deemed repealed January 1, 2025; and
   (b)  the  expiration and repeal of this act shall not affect the proc-
 essing or allowance of any tax credit provided in this act for  any  tax
 year commencing prior to January 1, 2025.
   Effective  immediately,  the  addition, amendment and/or repeal of any
 rule or regulation necessary for the implementation of this act  on  its
 effective date are authorized to be made and completed on or before such
 date.