Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 14, 2016 |
print number 1237a |
Jan 14, 2016 |
amend and recommit to investigations and government operations |
Jan 06, 2016 |
referred to investigations and government operations |
Jan 09, 2015 |
referred to investigations and government operations |
Senate Bill S1237A
2015-2016 Legislative Session
Sponsored By
(D, WF) 21st 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
Bill Amendments
2015-S1237 - Details
2015-S1237 - Summary
Provides a 50% tax credit for new income tax revenue generated by a new employee; provides credit may be taken up to 10 years; provides that the Department of Economic Development must monitor and certify the additional employment for any business which applies for the credit; provides any company taking the credit must maintain employment in the state for twice the number of years as the term of the tax credit
2015-S1237 - Sponsor Memo
BILL NUMBER:S1237 TITLE OF BILL: An act to amend the tax law, in relation to job creation tax credits PURPOSE OR GENERAL IDEA OF BILL: This bill provides a tax credit for any business which creates new employment in New York State. The credit will be 500 of the new income tax revenue created as a result of the additional jobs created. SUMMARY OF SPECIFIC PROVISIONS: Establishes the Job Creation Tax Credit Act of 2013. The bill provides a 50% tax credit for new income tax revenue generated by a new employee. The credit may be taken for up to 10 years. The State Department of Economic Development must monitor and certify the additional employment for any business which applies for the credit. Any company taking the credit must maintain employment in the state for twice the number of years as the term of the tax credit. The Tax Commissioner may recoup the credit if the company fails to comply with the requirements for receiving the credit. The Department of Economic Development shall annually report to the Governor and Legislative Leaders (Majority and Minority) on the number and amounts of credits taken, as well as the number of firms participating. The tax credit program will be fully evaluated five years after enactment. JUSTIFICATION: The State of New York has experienced a severe economic
2015-S1237 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1237 2015-2016 Regular Sessions I N S E N A T E January 9, 2015 ___________ Introduced by Sen. PARKER -- 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 job creation tax credits 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 "Job Creation Tax Credit Act of 2015". S 2. Section 210-B of the tax law is amended by adding a new subdivi- sion 49 to read as follows: 49. JOB CREATION TAX CREDIT. (A) AS USED IN THIS SUBDIVISION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (1) "FULL-TIME EMPLOYEE" MEANS AN INDIVIDUAL WHO IS EMPLOYED FOR CONSIDERATION FOR AT LEAST THIRTY-FIVE HOURS A WEEK, OR WHO RENDERS ANY OTHER STANDARD OF SERVICE GENERALLY ACCEPTED BY CUSTOM OR SPECIFIED BY CONTRACT AS FULL-TIME EMPLOYMENT. (2) "NEW EMPLOYEE" MEANS A FULL-TIME EMPLOYEE FIRST EMPLOYED BY A TAXPAYER IN THE PROJECT THAT IS THE SUBJECT OF THE TAX CREDIT AUTHORIZED UNDER THIS SUBDIVISION IN THE TAXABLE YEAR IN WHICH THE TAXPAYER SEEKS THE CREDIT. "NEW EMPLOYEE" ALSO MAY INCLUDE AN EMPLOYEE REHIRED OR CALLED BACK FROM LAY-OFF TO WORK IN A NEW FACILITY OR ON A NEW PRODUCT OR SERVICE ESTABLISHED OR PRODUCED BY THE TAXPAYER DURING THE TAXABLE YEAR IN WHICH THE CREDIT IS SOUGHT. "NEW EMPLOYEE" SHALL NOT INCLUDE ANY EMPLOYEE OF THE TAXPAYER WHO WAS PREVIOUSLY EMPLOYED IN THIS STATE BY A RELATED MEMBER OF THE TAXPAYER AND WHOSE EMPLOYMENT WAS SHIFTED TO THE TAXPAYER DURING THE TAXABLE YEAR IN WHICH THE CREDIT IS SOUGHT. IN ADDI- TION, "NEW EMPLOYEE" SHALL NOT INCLUDE A CHILD, GRANDCHILD, PARENT, OR SPOUSE, OTHER THAN A SPOUSE WHO IS LEGALLY SEPARATED FROM THE INDIVID- UAL, OR ANY INDIVIDUAL WHO IS AN EMPLOYEE OF THE TAXPAYER AND WHO HAS A DIRECT OR INDIRECT OWNERSHIP INTEREST OF AT LEAST FIVE PERCENT IN THE PROFITS, CAPITAL, OR VALUE OF THE TAXPAYER. OWNERSHIP INTEREST SHALL BE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02833-01-5
2015-S1237A (ACTIVE) - Details
2015-S1237A (ACTIVE) - Summary
Provides a 50% tax credit for new income tax revenue generated by a new employee; provides credit may be taken up to 10 years; provides that the Department of Economic Development must monitor and certify the additional employment for any business which applies for the credit; provides any company taking the credit must maintain employment in the state for twice the number of years as the term of the tax credit
2015-S1237A (ACTIVE) - Sponsor Memo
BILL NUMBER: S1237A TITLE OF BILL : An act to amend the tax law, in relation to job creation tax credits PURPOSE OR GENERAL IDEA OF BILL : This bill provides a tax credit for any business which creates new employment in New York State. The credit will be 500 of the new income tax revenue created as a result of the additional jobs created. SUMMARY OF SPECIFIC PROVISIONS : Establishes the Job Creation Tax Credit Act of 2013. The bill provides a 50% tax credit for new income tax revenue generated by a new employee. The credit may be taken for up to 10 years. The State Department of Economic Development must monitor and certify the additional employment for any business which applies for the credit. Any company taking the credit must maintain employment in the state for twice the number of years as the term of the tax credit. The Tax Commissioner may recoup the credit if the company fails to comply with the requirements for receiving the credit. The Department of Economic Development shall annually report to the Governor and Legislative Leaders (Majority and Minority) on the number and amounts of credits taken, as well as the number of firms participating. The tax credit
2015-S1237A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1237--A 2015-2016 Regular Sessions I N S E N A T E January 9, 2015 ___________ Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations -- recommitted to the Committee on Investigations and Government Operations 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 job creation tax credits 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 "Job Creation Tax Credit Act of 2016". S 2. Section 210-B of the tax law is amended by adding a new subdivi- sion 49 to read as follows: 49. JOB CREATION TAX CREDIT. (A) AS USED IN THIS SUBDIVISION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (1) "FULL-TIME EMPLOYEE" MEANS AN INDIVIDUAL WHO IS EMPLOYED FOR CONSIDERATION FOR AT LEAST THIRTY-FIVE HOURS A WEEK, OR WHO RENDERS ANY OTHER STANDARD OF SERVICE GENERALLY ACCEPTED BY CUSTOM OR SPECIFIED BY CONTRACT AS FULL-TIME EMPLOYMENT. (2) "NEW EMPLOYEE" MEANS A FULL-TIME EMPLOYEE FIRST EMPLOYED BY A TAXPAYER IN THE PROJECT THAT IS THE SUBJECT OF THE TAX CREDIT AUTHORIZED UNDER THIS SUBDIVISION IN THE TAXABLE YEAR IN WHICH THE TAXPAYER SEEKS THE CREDIT. "NEW EMPLOYEE" ALSO MAY INCLUDE AN EMPLOYEE REHIRED OR CALLED BACK FROM LAY-OFF TO WORK IN A NEW FACILITY OR ON A NEW PRODUCT OR SERVICE ESTABLISHED OR PRODUCED BY THE TAXPAYER DURING THE TAXABLE YEAR IN WHICH THE CREDIT IS SOUGHT. "NEW EMPLOYEE" SHALL NOT INCLUDE ANY EMPLOYEE OF THE TAXPAYER WHO WAS PREVIOUSLY EMPLOYED IN THIS STATE BY A RELATED MEMBER OF THE TAXPAYER AND WHOSE EMPLOYMENT WAS SHIFTED TO THE TAXPAYER DURING THE TAXABLE YEAR IN WHICH THE CREDIT IS SOUGHT. IN ADDI- TION, "NEW EMPLOYEE" SHALL NOT INCLUDE A CHILD, GRANDCHILD, PARENT, OR SPOUSE, OTHER THAN A SPOUSE WHO IS LEGALLY SEPARATED FROM THE INDIVID- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02833-02-6
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