Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2020 |
referred to ways and means |
Apr 18, 2019 |
print number 419a |
Apr 18, 2019 |
amend and recommit to ways and means |
Jan 09, 2019 |
referred to ways and means |
Assembly Bill A419A
2019-2020 Legislative Session
Sponsored By
BRAUNSTEIN
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
Bill Amendments
co-Sponsors
Phil Steck
Didi Barrett
Aileen Gunther
William Colton
multi-Sponsors
Peter Abbate
Clifford Crouch
David McDonough
Walter T. Mosley
2019-A419 - Details
2019-A419 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 419 2019-2020 Regular Sessions I N A S S E M B L Y (PREFILED) January 9, 2019 ___________ Introduced by M. of A. BRAUNSTEIN, STECK, BARRETT, GUNTHER, COLTON, M. G. MILLER, SANTABARBARA, SIMOTAS, COOK, DiPIETRO, JOHNS, CAHILL -- Multi-Sponsored by -- M. of A. ABBATE, CROUCH, McDONOUGH, MOSLEY, PERRY -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to establishing a small busi- ness tax credit for the employment of persons sixty-five years of age or older 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; PERSONS AGE SIXTY-FIVE OR OLDER. (A) GENERAL. A TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR EACH PERSON AGE SIXTY-FIVE OR OLDER HIRED DURING A TAXABLE YEAR, PROVIDED THAT SUCH PERSON AGE SIXTY-FIVE OR OLDER 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 PERSON AGE SIXTY-FIVE OR OLDER 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. § 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.
co-Sponsors
Phil Steck
Didi Barrett
Aileen Gunther
William Colton
multi-Sponsors
Peter Abbate
Clifford Crouch
David McDonough
Walter T. Mosley
2019-A419A (ACTIVE) - Details
2019-A419A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 419--A 2019-2020 Regular Sessions I N A S S E M B L Y (PREFILED) January 9, 2019 ___________ Introduced by M. of A. BRAUNSTEIN, STECK, BARRETT, GUNTHER, COLTON, M. G. MILLER, SANTABARBARA, SIMOTAS, COOK, DiPIETRO, JOHNS, CAHILL -- Multi-Sponsored by -- M. of A. ABBATE, CROUCH, McDONOUGH, MOSLEY, PERRY -- read once and referred to the Committee on Ways and Means -- 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 persons sixty-five years of age or older 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 54 to read as follows: 54. SMALL BUSINESS TAX CREDIT; PERSONS AGE SIXTY-FIVE OR OLDER. (A) GENERAL. A TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR EACH PERSON AGE SIXTY-FIVE OR OLDER HIRED DURING A TAXABLE YEAR, PROVIDED THAT SUCH PERSON AGE SIXTY-FIVE OR OLDER IS EMPLOYED FOR THIRTY-FIVE HOURS OR MORE PER WEEK, EARNS LESS THAN SEVENTY-FIVE THOUSAND DOLLARS ANNUALLY, 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 TWO THOUSAND FIVE HUNDRED DOLLARS PER HIRED PERSON AGE SIXTY-FIVE OR OLDER BUT SHALL NOT EXCEED TEN MILLION DOLLARS ANNUALLY. (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. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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