Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 17, 2020 |
held for consideration in ways and means |
Jan 08, 2020 |
referred to ways and means |
Jan 24, 2019 |
referred to ways and means |
Assembly Bill A2590
2019-2020 Legislative Session
Sponsored By
CROUCH
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
David DiPietro
Joseph Giglio
Peter Lawrence
Angelo J. Morinello
multi-Sponsors
Stephen Hawley
2019-A2590 (ACTIVE) - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§606 & 210-B, Tax L
- Versions Introduced in 2017-2018 Legislative Session:
-
A9568
2019-A2590 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2590 2019-2020 Regular Sessions I N A S S E M B L Y January 24, 2019 ___________ Introduced by M. of A. CROUCH, DiPIETRO, GIGLIO, LAWRENCE, MORINELLO, NORRIS -- Multi-Sponsored by -- M. of A. HAWLEY -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to creating a doing business with a vocational program tax credit 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 (jjj) to read as follows: (JJJ) DOING BUSINESS WITH A VOCATIONAL PROGRAM TAX CREDIT. (1) ALLOW- ANCE OF CREDIT. A TAXPAYER WHO OWNS A BUSINESS THAT MAKES PURCHASES FROM A VOCATIONAL PROGRAM SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN PARAGRAPH THREE OF THIS SUBSECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE. TO QUALIFY FOR THE CREDIT PROVIDED IN THIS SECTION, A TAXPAYER MUST BE A NEW YORK RESIDENT AND OWN A BUSINESS LOCATED IN NEW YORK. (2) DEFINITION. FOR THE PURPOSES OF THIS SUBSECTION, THE TERM "VOCA- TIONAL PROGRAM" SHALL HAVE THE SAME DEFINITION AS SET FORTH BY THE COMMISSIONER OF THE OFFICE OF PEOPLE WITH DEVELOPMENTAL DISABILITIES. (3) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL EQUAL ONE HUNDRED PERCENT OF THE PURCHASES MADE BY THE TAXPAYER TO A BUSINESS THAT IS A VOCATIONAL PROGRAM. (4) APPLICATION OF CREDIT. 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. § 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: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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