Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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Jan 08, 2020 |
referred to veterans, homeland security and military affairs |
Jan 23, 2019 |
referred to veterans, homeland security and military affairs |
Senate Bill S2230
2019-2020 Legislative Session
Sponsored By
(D) 10th Senate District
Archive: Last Bill Status - In Senate Committee Veterans, Homeland Security And Military Affairs Committee
- Introduced
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- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
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- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
(D) 26th Senate District
(D) 20th Senate District
2019-S2230 (ACTIVE) - Details
2019-S2230 (ACTIVE) - Sponsor Memo
BILL NUMBER: S2230 SPONSOR: SANDERS TITLE OF BILL: An act to amend the tax law, in relation to establishing a returning veterans tax credit for businesses that hire veterans and disabled veterans PURPOSE: To provide tax credits for businesses that hire veterans and disabled veterans. SUMMARY OF PROVISIONS: Section 1 amends section 210-B of the tax law to add a new subdivision 52 which provides for a returning veterans tax credit. The amount of the credit shall equal three thousand dollars per hired veteran and four thousand dollars per hired wounded veteran, not to exceed fifteen thou- sand dollars annually.
2019-S2230 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2230 2019-2020 Regular Sessions I N S E N A T E January 23, 2019 ___________ Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Veterans, Homeland Securi- ty and Military Affairs AN ACT to amend the tax law, in relation to establishing a returning veterans tax credit for businesses that hire veterans and disabled veterans 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. RETURNING VETERANS TAX CREDIT. (A) GENERAL. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR EACH VETERAN OR DISABLED VETERAN HIRED DURING A TAXABLE YEAR, PROVIDED THAT: (I) SUCH VETERAN IS A NEW EMPLOYEE AND IS EMPLOYED FOR THIRTY-FIVE HOURS OR MORE PER WEEK AND REMAINS IN THE EMPLOY OF SUCH TAXPAYER FOR TWELVE MONTHS OR MORE; OR (II) SUCH DISABLED VETERAN IS A NEW EMPLOYEE WHO IS EMPLOYED FOR SEVENTEEN AND ONE-HALF 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 THREE THOUSAND DOLLARS PER HIRED VETERAN AND FOUR THOUSAND DOLLARS PER HIRED DISABLED VETERAN BUT SHALL NOT EXCEED FIFTEEN THOUSAND 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 TEN 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 FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (I) "NEW EMPLOYEE" SHALL MEAN ANY FULL TIME EMPLOYEE THAT CAUSES THE TOTAL NUMBER OF EMPLOYEES TO INCREASE ABOVE BASE EMPLOYMENT OR CREDIT EMPLOYMENT, WHICHEVER IS HIGHER.
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