NY State Senate Bill 2017-S3688

Senate Bill S3688

Vetoed By Governor

2017-2018 Legislative Session

Establishes a small business tax credit for the employment of disabled persons

download bill text pdf

Archive: Last Bill Status Via A1369 - Vetoed by Governor

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Vetoed By Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Dec 07, 2018	tabled vetoed memo.269
Nov 26, 2018	delivered to governor
Jun 06, 2018	returned to assembly passed senate 3rd reading cal.1549 substituted for s3688a
Jun 06, 2018	substituted by a1369a ordered to third reading cal.1549
Jun 05, 2018	committee discharged and committed to rules
May 10, 2018	print number 3688a
May 10, 2018	amend (t) and recommit to investigations and government operations
Jan 03, 2018	referred to investigations and government operations
Jan 25, 2017	referred to investigations and government operations

Votes

- Jun 6, 2018 - Floor Vote
  A1369
  
  61
  
  Aye
  
  0
  
  Nay
  
  0
  
  Absent
  
  2
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 6, 2018
      
      aye (61)
      
      Addabbo Jr.
      
      Akshar
      
      Alcantara
      
      Avella
      
      Bailey
      
      Benjamin
      
      Bonacic
      
      Boyle
      
      Breslin
      
      Brooks
      
      Carlucci
      
      Comrie
      
      DeFrancisco
      
      Dilan
      
      Felder
      
      Flanagan
      
      Funke
      
      Gallivan
      
      Gianaris
      
      Golden
      
      Griffo
      
      Hamilton
      
      Hannon
      
      Helming
      
      Hoylman-Sigal
      
      Jacobs
      
      Kaminsky
      
      Kavanagh
      
      Kennedy
      
      Klein
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Little
      
      Marcellino
      
      Marchione
      
      Mayer
      
      Montgomery
      
      Murphy
      
      O'Mara
      
      Ortt
      
      Parker
      
      Peralta
      
      Persaud
      
      Phillips
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Sanders Jr.
      
      Savino
      
      Sepúlveda
      
      Serino
      
      Serrano
      
      Seward
      
      Stavisky
      
      Stewart-Cousins
      
      Tedisco
      
      Valesky
      
      Young
      
      excused (2)
      
      Amedore
      
      Croci
  Jun 5, 2018 - Rules Committee Vote
  S3688
  
  25
  
  Aye
  
  0
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Rules Committee Vote: Jun 5, 2018
      
      aye (25)
      
      Bonacic
      
      Breslin
      
      DeFrancisco
      
      Dilan
      
      Flanagan
      
      Gianaris
      
      Griffo
      
      Hannon
      
      Kennedy
      
      Klein
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Little
      
      Marcellino
      
      Montgomery
      
      Parker
      
      Ranzenhofer
      
      Rivera
      
      Robach
      
      Savino
      
      Seward
      
      Stewart-Cousins
      
      Valesky

Bill Amendments

Original

A (Active)

co-Sponsors

2017-S3688 - Details

Law Section:: Tax Law
Laws Affected:: Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S4107
2013-2014: S1907
2015-2016: S4093
2019-2020: S5545

2017-S3688 - Summary

Establishes a small business tax credit for the employment of disabled persons.

2017-S3688 - Sponsor Memo

                                 BILL NUMBER:  S3688

 TITLE OF BILL :  An act to amend the tax law, in relation to
establishing a small business tax credit for the employment of
disabled persons

 PURPOSE OR GENERAL IDEA OF BILL :

To stimulate employment of disabled persons and retain their services.

 SUMMARY OF SPECIFIC PROVISIONS :

Section 1: Amendment to section 210-B, subdivision 49 of the tax law,
for the providence of a business tax credit for the employer in
regards to the employment of disabled persons for the duration of
twelve months or more for a minimum of thirty-five hours per a week.
Tax credit range will range between five thousand to twenty-five
thousand dollars.

Section 2: The adoption of a new clause (xli) in section 606 of the
tax law, specifying preceded amendment.

Section 3: Amendment to section 606 of the tax law, detailing the
components of the business tax credit for the employment of disabled
persons in a company of one hundred employees or less and establishes
a $5 million cap on the credit each year. The bill also specifies that

a taxpayer shall not be allowed to claim this credit if the
calculation of this credit has been claimed for another tax credit.

Section 4: The effective date.

 JUSTIFICATION :

With the struggles one experiences in today's economy, it is a
continuous uphill battle to seek and retain viable employment.
Disabled persons, by far, face unprecedented challenges. A 2004 Harris
poll cited disabled persons are nearly twice as likely as people
without disabilities to have an annual household income of $15,000 or
less. According to a 2009 Bureau of Labor Statistics study, the
unemployment rate of persons with a disability was fifteen percent,
compared to nine percent for those without a disability.  Further, a
2006 disability status report published by Cornell University
determined twenty-two percent of persons with disabilities are
employed full-time, compared to fifty-seven percent of persons without
disabilities. There are also income discrepancies: a median salary of
$65,000 for persons without disabilities, compared to a $36,000 median
salary for persons with disabilities.

To stimulate employment for their services, a tax credit is being
proposed to small business owners that retain disabled persons within
their company for twelve months or more at a minimum of thirty-five
hours of employment per a week. Their services will contribute to the
economic growth of New York State, create greater awareness of their
overlooked skills, and establish fairness with confidence.

 PRIOR LEGISLATIVE HISTORY :

2015: S. 4093 - Referred to Investigations and Government Operations.
2016: S. 4093C - Referred to Investigations and Government Operations.

 FISCAL IMPLICATIONS :

To be determined

 EFFECTIVE DATE :
This act shall take effect immediately and apply to taxable years
beginning on or after January 1, 2018.

2017-S3688 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3688
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 25, 2017
                                ___________
 
 Introduced  by  Sens.  ADDABBO,  COMRIE,  DILAN, PARKER, PERKINS -- read
   twice and ordered printed, and when printed to  be  committed  to  the
   Committee on Investigations and Government Operations
 
 AN  ACT  to amend the tax law, in relation to establishing a small busi-
   ness tax credit for the employment of disabled persons

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  210-B  of the tax law is amended by adding a new
 subdivision 49 to read as follows:
   49. SMALL BUSINESS  TAX  CREDIT;  DISABLED  PERSONS.  (A)  GENERAL.  A
 TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
 IT,  TO  BE  COMPUTED  AS  PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX
 IMPOSED BY THIS ARTICLE FOR EACH DISABLED PERSON HIRED DURING A  TAXABLE
 YEAR,  PROVIDED  THAT  SUCH  DISABLED PERSON IS EMPLOYED FOR THIRTY-FIVE
 HOURS OR MORE PER WEEK AND REMAINS IN THE EMPLOY OF  SUCH  TAXPAYER  FOR
 TWELVE MONTHS OR MORE.
   (B)  AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL EQUAL
 FIVE THOUSAND DOLLARS PER HIRED DISABLED PERSON  BUT  SHALL  NOT  EXCEED
 TWENTY-FIVE THOUSAND DOLLARS.
   (C)  CARRYOVERS.  THE  CREDIT  ALLOWED  UNDER  THIS SUBDIVISION MAY BE
 CLAIMED AND IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH  THE  CREDIT
 IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
 TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
 TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
   (D)  DEFINITIONS.  AS  USED  IN  THIS  SUBDIVISION, THE TERM "DISABLED
 PERSON" SHALL MEAN A PERSON WHO SUFFERS FROM  ANY  PHYSICAL,  MENTAL  OR
 MEDICAL  IMPAIRMENT RESULTING FROM ANATOMICAL, PHYSIOLOGICAL, GENETIC OR
 NEUROLOGICAL CONDITIONS WHICH PREVENTS THE EXERCISE OF A  NORMAL  BODILY
 FUNCTION OR IS DEMONSTRABLE BY MEDICALLY ACCEPTED CLINICAL OR LABORATORY
 DIAGNOSTIC TECHNIQUES.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00368-01-7

 S. 3688                             2
 
   (E)  AGGREGATE  AMOUNT.  THE  AGGREGATE  AMOUNT OF TAX CREDITS ALLOWED
 PURSUANT TO THE AUTHORITY OF THIS SUBDIVISION AND  SUBSECTION  (CCC)  OF
 SECTION  SIX  HUNDRED  SIX OF THIS CHAPTER SHALL BE FIVE MILLION DOLLARS
 EACH YEAR.  SUCH AGGREGATE AMOUNTS OF CREDITS SHALL BE ALLOCATED BY  THE
 COMMISSIONER.    IF THE TOTAL AMOUNT OF ALLOCATED CREDITS APPLIED FOR IN
 ANY PARTICULAR YEAR EXCEEDS THE AGGREGATE AMOUNT OF TAX CREDITS  ALLOWED
 FOR SUCH YEAR UNDER THIS SECTION, SUCH EXCESS SHALL BE TREATED AS HAVING
 BEEN APPLIED FOR ON THE FIRST DAY OF THE SUBSEQUENT YEAR.
   (F)  CLAIM  OF  CREDIT.  A TAXPAYER SHALL NOT BE ALLOWED TO CLAIM THIS
 CREDIT TO THE EXTENT THE BASIS OF THE CALCULATION  OF  THIS  CREDIT  HAS
 BEEN CLAIMED FOR ANOTHER TAX CREDIT UNDER THIS CHAPTER.
   §  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding a new  clause  (xliii)  to  read  as
 follows:
 (XLIII) SMALL BUSINESS TAX CREDIT;   AMOUNT OF CREDIT UNDER
 DISABLED PERSONS UNDER               SUBDIVISION FORTY-NINE
 SUBSECTION (CCC)                     OF SECTION TWO HUNDRED
                                      TEN-B
   § 3.  Section 606 of the tax law is amended by adding a new subsection
 (ccc) to read as follows:
   (CCC)  SMALL  BUSINESS  TAX  CREDIT;  DISABLED PERSONS. (1) GENERAL. A
 TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
 IT, TO BE COMPUTED AS PROVIDED  IN  THIS  SUBSECTION,  AGAINST  THE  TAX
 IMPOSED  BY THIS ARTICLE FOR EACH DISABLED PERSON HIRED DURING A TAXABLE
 YEAR, PROVIDED THAT SUCH DISABLED PERSON  IS  EMPLOYED  FOR  THIRTY-FIVE
 HOURS  OR  MORE  PER WEEK AND REMAINS IN THE EMPLOY OF SUCH TAXPAYER FOR
 TWELVE MONTHS OR MORE.
   (2) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
 FIVE  THOUSAND  DOLLARS  PER  HIRED DISABLED PERSON BUT SHALL NOT EXCEED
 TWENTY-FIVE THOUSAND DOLLARS.
   (3) CARRYOVERS. THE  CREDIT  ALLOWED  UNDER  THIS  SUBSECTION  MAY  BE
 CLAIMED  AND  IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH THE CREDIT
 IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
 TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBSECTION MAY NOT BE  USED
 TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
   (4)  DEFINITIONS.  AS  USED  IN  THIS  SUBSECTION,  THE TERM "DISABLED
 PERSON" SHALL MEAN A PERSON WHO SUFFERS FROM  ANY  PHYSICAL,  MENTAL  OR
 MEDICAL  IMPAIRMENT RESULTING FROM ANATOMICAL, PHYSIOLOGICAL, GENETIC OR
 NEUROLOGICAL CONDITIONS WHICH PREVENTS THE EXERCISE OF A  NORMAL  BODILY
 FUNCTION OR IS DEMONSTRABLE BY MEDICALLY ACCEPTED CLINICAL OR LABORATORY
 DIAGNOSTIC TECHNIQUES.
   (5)  AGGREGATE  AMOUNT.  THE  AGGREGATE  AMOUNT OF TAX CREDITS ALLOWED
 PURSUANT TO THE AUTHORITY OF THIS SUBSECTION AND SUBDIVISION  FORTY-NINE
 OF  SECTION  TWO  HUNDRED  TEN-B  OF  THIS CHAPTER SHALL BE FIVE MILLION
 DOLLARS EACH YEAR. SUCH AGGREGATE AMOUNTS OF CREDITS SHALL BE  ALLOCATED
 BY  THE  COMMISSIONER.  IF THE TOTAL AMOUNT OF ALLOCATED CREDITS APPLIED
 FOR IN ANY PARTICULAR YEAR EXCEEDS THE AGGREGATE AMOUNT OF  TAX  CREDITS
 ALLOWED  FOR  SUCH YEAR UNDER THIS SECTION, SUCH EXCESS SHALL BE TREATED
 AS HAVING BEEN APPLIED FOR ON THE FIRST DAY OF THE SUBSEQUENT YEAR.
   (6) CLAIM OF CREDIT. A TAXPAYER SHALL NOT BE  ALLOWED  TO  CLAIM  THIS
 CREDIT  TO  THE  EXTENT  THE BASIS OF THE CALCULATION OF THIS CREDIT HAS
 BEEN CLAIMED FOR ANOTHER TAX CREDIT UNDER THIS CHAPTER.
   § 4. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2018.

co-Sponsors

2017-S3688A (ACTIVE) - Details

Law Section:: Tax Law
Laws Affected:: Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S4107
2013-2014: S1907
2015-2016: S4093
2019-2020: S5545

2017-S3688A (ACTIVE) - Summary

Establishes a small business tax credit for the employment of disabled persons.

2017-S3688A (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S3688A

SPONSOR: ADDABBO
 
TITLE OF BILL:  An act to amend the tax law, in relation to establish-
ing a small business tax credit for the employment of disabled persons;
and providing for the repeal of such provisions upon expiration thereof

 
PURPOSE OR GENERAL IDEA OF BILL:

To stimulate employment of disabled persons and retain their services.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1: Amendment to section 210-B, subdivision 53 of the tax law,
for the providence of a business tax credit for the employer in regards
to the employment of disabled persons for the duration of twelve months
or more for a minimum of thirty-five hours per a week.  Tax credit range
will range between five thousand to twenty-five thousand dollars.

Section 2: The adoption of a new clause (xliv) in section 606 of the tax
law, specifying preceded amendment.

Section 3: Amendment to section 606 of the tax law, detailing the compo-
nents of the business tax credit for the employment of disabled persons
in a company of one hundred employees or less and establishes a $5
million cap on the credit each year. The bill also specifies that a
taxpayer shall not be allowed to claim this credit if the calculation of
this credit has been claimed for another tax credit.

Section 4: The effective date.

 
JUSTIFICATION:

With the struggles one experiences in today's economy, it is a contin-
uous uphill battle to seek and retain viable employment.  Disabled
persons, by far, face unprecedented challenges. According to a 2015
Bureau of Labor Statistics study, the unemployment rate of persons with
a disability was ten point seven percent, compared to five percent for
those without a disability. Further, a 2015 disability status report
published by Cornell University determined twenty-two percent of persons
with disabilities are employed full-time, compared to fifty-eight point
six percent of persons without disabilities. There are also income
discrepancies: a median salary of $65,000 for persons without disabili-
ties, compared to a $36,000 median salary for persons with disabilities.

To stimulate employment for their services, a tax credit is being
proposed to small business owners that retain disabled persons within
their company for twelve months or more at a minimum of thirty-five
hours of employment per a week. Their services will contribute to the
economic growth of New York State, create greater awareness of their
overlooked skills, and establish fairness with confidence.

 
PRIOR LEGISLATIVE HISTORY:

2016: 5513-C - Passed Assembly/S.4093-C A - Died in Investigations and
Government Operations;
2014-2013: A.570-A - Died in Ways and Means/S.1907-A - Died in Investi-
gations and Government Operations;

2012: A.8385-A - died in Ways and Means/S.4107-A - Died in Investi-
gations and Government Operations;
2011: A.8385-referred to Ways and Means.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately and apply to taxable years begin-
ning on or after January 1, 2019 and shall expire and be deemed repealed
December 31, 2024.

2017-S3688A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3688--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 25, 2017
                                ___________
 
 Introduced  by  Sens.  ADDABBO,  COMRIE, DILAN, PARKER -- read twice and
   ordered printed, and when printed to be committed to the Committee  on
   Investigations and Government Operations -- recommitted to the Commit-
   tee  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 establishing a small busi-
   ness tax credit for the employment of disabled persons; 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. Section 210-B of the tax law is amended  by  adding  a  new
 subdivision 53 to read as follows:
   53.  SMALL  BUSINESS  TAX  CREDIT;  DISABLED  PERSONS.  (A) GENERAL. A
 TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
 IT, TO BE COMPUTED AS PROVIDED IN  THIS  SUBDIVISION,  AGAINST  THE  TAX
 IMPOSED  BY THIS ARTICLE FOR EACH DISABLED PERSON HIRED DURING A TAXABLE
 YEAR, PROVIDED THAT SUCH DISABLED PERSON  IS  EMPLOYED  FOR  THIRTY-FIVE
 HOURS  OR  MORE  PER WEEK AND REMAINS IN THE EMPLOY OF SUCH TAXPAYER FOR
 TWELVE MONTHS OR MORE.
   (B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
 FIVE  THOUSAND  DOLLARS  PER  HIRED DISABLED PERSON BUT SHALL NOT EXCEED
 TWENTY-FIVE THOUSAND DOLLARS.
   (C) CARRYOVERS. THE CREDIT  ALLOWED  UNDER  THIS  SUBDIVISION  MAY  BE
 CLAIMED  AND  IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH THE CREDIT
 IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
 TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
 TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
   (D) DEFINITIONS. AS USED  IN  THIS  SUBDIVISION,  THE  TERM  "DISABLED
 PERSON"  SHALL  MEAN  A  PERSON WHO SUFFERS FROM ANY PHYSICAL, MENTAL OR
 MEDICAL IMPAIRMENT RESULTING FROM ANATOMICAL, PHYSIOLOGICAL, GENETIC  OR
 NEUROLOGICAL  CONDITIONS  WHICH PREVENTS THE EXERCISE OF A NORMAL BODILY
 FUNCTION OR IS DEMONSTRABLE BY MEDICALLY ACCEPTED CLINICAL OR LABORATORY
 DIAGNOSTIC TECHNIQUES.

 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00368-03-8

 S. 3688--A                          2
 
   (E) AGGREGATE AMOUNT. THE AGGREGATE  AMOUNT  OF  TAX  CREDITS  ALLOWED
 PURSUANT  TO  THE  AUTHORITY OF THIS SUBDIVISION AND SUBSECTION (JJJ) OF
 SECTION SIX HUNDRED SIX OF THIS CHAPTER SHALL BE  FIVE  MILLION  DOLLARS
 EACH  YEAR.  SUCH AGGREGATE AMOUNTS OF CREDITS SHALL BE ALLOCATED BY THE
 COMMISSIONER.    IF THE TOTAL AMOUNT OF ALLOCATED CREDITS APPLIED FOR IN
 ANY PARTICULAR YEAR EXCEEDS THE AGGREGATE AMOUNT OF TAX CREDITS  ALLOWED
 FOR SUCH YEAR UNDER THIS SECTION, SUCH EXCESS SHALL BE TREATED AS HAVING
 BEEN APPLIED FOR ON THE FIRST DAY OF THE SUBSEQUENT YEAR.
   (F)  CLAIM  OF  CREDIT.  A TAXPAYER SHALL NOT BE ALLOWED TO CLAIM THIS
 CREDIT TO THE EXTENT THE BASIS OF THE CALCULATION  OF  THIS  CREDIT  HAS
 BEEN CLAIMED FOR ANOTHER TAX CREDIT UNDER THIS CHAPTER.
   §  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding a  new  clause  (xliv)  to  read  as
 follows:
 (XLIV) SMALL BUSINESS TAX CREDIT;    AMOUNT OF CREDIT UNDER
 DISABLED PERSONS UNDER               SUBDIVISION FIFTY-THREE
 SUBSECTION (JJJ)                     OF SECTION TWO HUNDRED
                                      TEN-B
   § 3.  Section 606 of the tax law is amended by adding a new subsection
 (jjj) to read as follows:
   (JJJ)  SMALL  BUSINESS  TAX  CREDIT;  DISABLED PERSONS. (1) GENERAL. A
 TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
 IT, TO BE COMPUTED AS PROVIDED  IN  THIS  SUBSECTION,  AGAINST  THE  TAX
 IMPOSED  BY THIS ARTICLE FOR EACH DISABLED PERSON HIRED DURING A TAXABLE
 YEAR, PROVIDED THAT SUCH DISABLED PERSON  IS  EMPLOYED  FOR  THIRTY-FIVE
 HOURS  OR  MORE  PER WEEK AND REMAINS IN THE EMPLOY OF SUCH TAXPAYER FOR
 TWELVE MONTHS OR MORE.
   (2) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
 FIVE  THOUSAND  DOLLARS  PER  HIRED DISABLED PERSON BUT SHALL NOT EXCEED
 TWENTY-FIVE THOUSAND DOLLARS.
   (3) CARRYOVERS. THE  CREDIT  ALLOWED  UNDER  THIS  SUBSECTION  MAY  BE
 CLAIMED  AND  IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH THE CREDIT
 IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
 TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBSECTION MAY NOT BE  USED
 TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
   (4)  DEFINITIONS.  AS  USED  IN  THIS  SUBSECTION,  THE TERM "DISABLED
 PERSON" SHALL MEAN A PERSON WHO SUFFERS FROM  ANY  PHYSICAL,  MENTAL  OR
 MEDICAL  IMPAIRMENT RESULTING FROM ANATOMICAL, PHYSIOLOGICAL, GENETIC OR
 NEUROLOGICAL CONDITIONS WHICH PREVENTS THE EXERCISE OF A  NORMAL  BODILY
 FUNCTION OR IS DEMONSTRABLE BY MEDICALLY ACCEPTED CLINICAL OR LABORATORY
 DIAGNOSTIC TECHNIQUES.
   (5)  AGGREGATE  AMOUNT.  THE  AGGREGATE  AMOUNT OF TAX CREDITS ALLOWED
 PURSUANT TO THE AUTHORITY OF THIS SUBSECTION AND SUBDIVISION FIFTY-THREE
 OF SECTION TWO HUNDRED TEN-B OF  THIS  CHAPTER  SHALL  BE  FIVE  MILLION
 DOLLARS  EACH YEAR. SUCH AGGREGATE AMOUNTS OF CREDITS SHALL BE ALLOCATED
 BY THE COMMISSIONER. IF THE TOTAL AMOUNT OF  ALLOCATED  CREDITS  APPLIED
 FOR  IN  ANY PARTICULAR YEAR EXCEEDS THE AGGREGATE AMOUNT OF TAX CREDITS
 ALLOWED FOR SUCH YEAR UNDER THIS SECTION, SUCH EXCESS SHALL  BE  TREATED
 AS HAVING BEEN APPLIED FOR ON THE FIRST DAY OF THE SUBSEQUENT YEAR.
   (6)  CLAIM  OF  CREDIT.  A TAXPAYER SHALL NOT BE ALLOWED TO CLAIM THIS
 CREDIT TO THE EXTENT THE BASIS OF THE CALCULATION  OF  THIS  CREDIT  HAS
 BEEN CLAIMED FOR ANOTHER TAX CREDIT UNDER THIS CHAPTER.
   § 4. This act shall take effect immediately and shall apply to taxable
 years  beginning  on  or  after  January 1, 2019 and shall expire and be
 deemed repealed December 31, 2024.

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Senate Bill S3688

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Sponsored By

Archive: Last Bill Status Via A1369 - Vetoed by Governor

Bill Amendments

co-Sponsors

2017-S3688 - Details

2017-S3688 - Summary

2017-S3688 - Sponsor Memo

2017-S3688 - Bill Text download pdf

co-Sponsors

2017-S3688A (ACTIVE) - Details

2017-S3688A (ACTIVE) - Summary

2017-S3688A (ACTIVE) - Sponsor Memo

2017-S3688A (ACTIVE) - Bill Text download pdf

Comments