Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2010 |
referred to investigations and government operations |
Apr 09, 2009 |
referred to investigations and government operations |
Senate Bill S4106
2009-2010 Legislative Session
Sponsored By
(D, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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
Actions
2009-S4106 (ACTIVE) - Details
2009-S4106 (ACTIVE) - Summary
Establishes a five percent investment tax credit against the franchise tax imposed upon corporations for a portion of training or retraining expenses incurred by them in an eligible business facility, pursuant to rules and regulation of the department of taxation and finance promulgated in consultation with the department of labor.
2009-S4106 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4106 TITLE OF BILL : An act to amend the tax law, in relation to providing for a tax credit for certain training or retraining expenses incurred by a taxpayer subject to the provisions of article 9-A of such law PURPOSE OF THE BILL : Provides for a corporate franchise tax credit for employee training expenses in an eligible business facility. SUMMARY OF SPECIFIC PROVISIONS : § 1- Amends subdivision 12 of § 210 of the tax law by adding a new paragraph (n) which allows for a tax credit in the amount equal to 5% of the expenditures paid or incurred by a taxpayer for training or retraining of employees, pursuant to Department of Labor review. § 2- Effective date. JUSTIFICATION : More so than ever, reports and newspaper articles are documenting the shortages in today's job market of skilled employees. A combination of high automation levels in the workplace and low employee language skills have resulted in a major schism between job demand and supply. Some corporations are claiming that fewer than 30% of employment candidates met entry level skill and ability requirements. This
2009-S4106 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4106 2009-2010 Regular Sessions I N S E N A T E April 9, 2009 ___________ Introduced by Sen. AUBERTINE -- 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 for a tax credit for certain training or retraining expenses incurred by a taxpayer subject to the provisions of article 9-A of such law THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 12 of section 210 of the tax law is amended by adding a new paragraph (n) to read as follows: (N) IN ADDITION TO THE CREDIT ALLOWED BY PARAGRAPH (A) OF THIS SUBDI- VISION, FOR TAXABLE YEARS BEGINNING AFTER DECEMBER THIRTY-FIRST, TWO THOUSAND NINE THERE SHALL BE ALLOWED A CREDIT IN AN AMOUNT EQUAL TO FIVE PERCENT OF THE EXPENDITURES PAID OR INCURRED BY A TAXPAYER FOR TRAINING OR RETRAINING OF EMPLOYEES IF SUCH TRAINING WAS GIVEN BY A TAXPAYER IN AN ELIGIBLE BUSINESS FACILITY. THE COMMISSIONER, IN CONSULTATION WITH THE DEPARTMENT OF LABOR, SHALL PROMULGATE RULES AND REGULATIONS TO DETERMINE AND IDENTIFY ELIGIBLE TRAINING PROGRAMS PURSUANT TO THIS PARA- GRAPH. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03947-01-9
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.