Assembly Bill A8036

2015-2016 Legislative Session

Provides a tax credit for certain newly hired SUNY college faculty members and administrators

download bill text pdf

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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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2015-A8036 (ACTIVE) - Details

See Senate Version of this Bill:
S7144
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: A4995, S4988
2019-2020: A5284

2015-A8036 (ACTIVE) - Summary

Provides a tax credit for newly hired SUNY college faculty members and administrators who are minorities and who have relocated to New York to work at a SUNY campus.

2015-A8036 (ACTIVE) - Bill Text download pdf 

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

                                  8036

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              June 4, 2015
                               ___________

Introduced  by  M.  of  A.  CRESPO, RIVERA, ARROYO, DAVILA, DILAN, MOYA,
  RODRIGUEZ, RAMOS, PICHARDO, ROZIC, LINARES, SEPULVEDA -- read once and
  referred to the Committee on Ways and Means

AN ACT to amend the tax law, in relation to providing a tax  credit  for
  certain newly hired SUNY college faculty members and administrators

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
subsection (ccc) to read as follows:
  (CCC) EMPLOYEE RELOCATION; STATE UNIVERSITY OF NEW YORK CAMPUS CREDIT.
(1)  FOR  TAXABLE  YEARS BEGINNING ON JANUARY FIRST, TWO THOUSAND SEVEN-
TEEN, A RESIDENT TAXPAYER WHO IS A NEWLY HIRED FACULTY MEMBER OR  ADMIN-
ISTRATOR, WHO RELOCATED TO NEW YORK TO WORK AT A STATE UNIVERSITY OF NEW
YORK  CAMPUS,  AND  WHO IS A MINORITY, SHALL BE ALLOWED A CREDIT AGAINST
THE TAX IMPOSED BY THIS ARTICLE EQUAL TO THIRTY PERCENT OF  HIS  OR  HER
GROSS  INCOME.  SUCH  QUALIFIED PERSONS SHALL HAVE BEEN HIRED TO WORK AT
ANY STATE UNIVERSITY CAMPUS EXCLUDING THOSE CAMPUSES  IN  NASSAU,  WEST-
CHESTER  AND  PUTNAM  COUNTIES.  FOR  PURPOSES OF THIS SECTION, THE TERM
"NEWLY HIRED" SHALL MEAN FACULTY MEMBERS AND ADMINISTRATORS WHO ARE  NOT
CURRENTLY EMPLOYED BY THE STATE UNIVERSITY OF NEW YORK.
  (2)  IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR,  THE  EXCESS
SHALL  BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11472-01-5

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