Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 04, 2012 |
referred to ways and means |
Jan 25, 2011 |
referred to ways and means |
Assembly Bill A3417
2011-2012 Legislative Session
Sponsored By
SCHIMMINGER
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
Actions
co-Sponsors
Sam Hoyt
multi-Sponsors
Sandy Galef
Brian Kolb
William Magee
2011-A3417 (ACTIVE) - Details
2011-A3417 (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 regulations of the department of taxation and finance promulgated in consultation with the department of labor.
2011-A3417 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3417 2011-2012 Regular Sessions I N A S S E M B L Y January 25, 2011 ___________ Introduced by M. of A. SCHIMMINGER, HOYT -- Multi-Sponsored by -- M. of A. GALEF, KOLB, MAGEE -- read once and referred to the Committee on Ways and Means 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 ELEVEN 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 CONSUL- TATION WITH THE DEPARTMENT OF LABOR, SHALL PROMULGATE RULES AND REGU- LATIONS TO DETERMINE AND IDENTIFY ELIGIBLE TRAINING PROGRAMS PURSUANT TO THIS PARAGRAPH. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06184-01-1
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