S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9171--A
 
                           I N  A S S E M B L Y
 
                             February 3, 2022
                                ___________
 
 Introduced  by  M.  of  A.  JOYNER,  JACOBSON, ZINERMAN -- read once and
   referred to the Committee on Labor -- reported  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 creating a work  opportunity
   tax credit

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The tax law is amended by adding a new section 48  to  read
 as follows:
   §  48. WORK OPPORTUNITY TAX CREDIT. (A) GENERAL. A TAXPAYER SUBJECT TO
 TAX UNDER ARTICLE NINE-A, TWENTY-TWO, OR THIRTY-THREE  OF  THIS  CHAPTER
 SHALL  BE  ALLOWED  A  CREDIT AGAINST SUCH TAX IN AN AMOUNT EQUAL TO ONE
 HUNDRED PERCENT OF THE CREDIT THAT IS  ALLOWED  TO  THE  TAXPAYER  UNDER
 SECTION  51  OF THE INTERNAL REVENUE CODE THAT IS ATTRIBUTABLE TO QUALI-
 FIED WAGES PAID TO A NEW YORK RESIDENT WHO IS A  MEMBER  OF  A  TARGETED
 GROUP  AND  FOR WHOM A CERTIFICATE TO THAT EFFECT HAS BEEN ISSUED BY THE
 DEPARTMENT OF LABOR.
   (B) DEFINITIONS. THE TERMS  "QUALIFIED  WAGES"  AND  "TARGETED  GROUP"
 SHALL  HAVE  THE  SAME MEANINGS AS IN SECTION 51 OF THE INTERNAL REVENUE
 CODE.
   (C) WAGES WHICH ARE THE BASIS OF THE CREDIT UNDER THIS SECTION MAY NOT
 BE USED AS THE BASIS FOR ANY OTHER CREDIT ALLOWED UNDER THIS CHAPTER.
   (D) CROSS-REFERENCES. FOR APPLICATION OF THE CREDIT  PROVIDED  FOR  IN
 THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
   (1) ARTICLE 9-A: SECTION 210-B, SUBDIVISION 59;
   (2) ARTICLE 22: SECTION 606, SUBSECTION (BBB);
   (3) ARTICLE 33: SECTION 1511, SUBDIVISION (EE).
   §  2. Section 210-B of the tax law is amended by adding a new subdivi-
 sion 59 to read as follows:
   59. WORK OPPORTUNITY TAX CREDIT. (A) ALLOWANCE OF CREDIT.  A  TAXPAYER
 SHALL  BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION FORTY-
 EIGHT OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS  ARTICLE.    SUCH
 CREDIT MAY NOT EXCEED ONE THOUSAND DOLLARS IN ANY GIVEN TAX YEAR.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD14561-02-2
 A. 9171--A                          2
 
   (B)  APPLICATION  OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
 FOR ANY TAXABLE YEAR MAY NOT REDUCE THE TAX DUE FOR SUCH  YEAR  TO  LESS
 THAN  THE  AMOUNT  PRESCRIBED  IN  PARAGRAPH  (D)  OF SUBDIVISION ONE OF
 SECTION TWO HUNDRED TEN OF THIS ARTICLE. HOWEVER, IF THE AMOUNT  OF  THE
 CREDIT  ALLOWED  UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE
 TAX TO SUCH AMOUNT OR IF THE TAXPAYER OTHERWISE PAYS TAX  BASED  ON  THE
 FIXED DOLLAR MINIMUM AMOUNT, ANY AMOUNT OF CREDIT THUS NOT DEDUCTIBLE IN
 SUCH TAXABLE YEAR WILL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
 ED  IN ACCORDANCE WITH THE PROVISIONS OF SECTION ONE THOUSAND EIGHTY-SIX
 OF THIS CHAPTER. PROVIDED, HOWEVER, THE PROVISIONS OF SUBSECTION (C)  OF
 SECTION  ONE  THOUSAND  EIGHTY-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO
 INTEREST SHALL BE PAID THEREON.
   § 3. Section 606 of the tax law is amended by adding a new  subsection
 (bbb) to read as follows:
   (BBB) WORK OPPORTUNITY TAX CREDIT. (1) ALLOWANCE OF CREDIT. A TAXPAYER
 SHALL  BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION FORTY-
 EIGHT OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS  ARTICLE.    SUCH
 CREDIT MAY NOT EXCEED ONE THOUSAND DOLLARS IN ANY GIVEN TAX YEAR.
   (2)  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.
   §  4.  Section 1511 of the tax law is amended by adding a new subdivi-
 sion (ee) to read as follows:
   (EE) WORK OPPORTUNITY TAX CREDIT. (1) A TAXPAYER SHALL  BE  ALLOWED  A
 CREDIT,  TO BE COMPUTED AS PROVIDED IN SECTION FORTY-EIGHT OF THIS CHAP-
 TER, AGAINST THE TAX IMPOSED BY THIS  ARTICLE.    SUCH  CREDIT  MAY  NOT
 EXCEED ONE THOUSAND DOLLARS IN ANY GIVEN TAX YEAR.
   (2)  APPLICATION  OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
 SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO BE LESS THAN  THE  MINIMUM
 FIXED  BY  PARAGRAPH  FOUR OF SUBDIVISION (A) OF SECTION FIFTEEN HUNDRED
 TWO OR SECTION FIFTEEN HUNDRED  TWO-A  OF  THIS  ARTICLE,  WHICHEVER  IS
 APPLICABLE.  HOWEVER,  IF  THE  AMOUNT  OF THE CREDIT ALLOWED UNDER THIS
 SUBDIVISION FOR ANY TAXABLE YEAR REDUCES  THE  TAXPAYER'S  TAX  TO  SUCH
 AMOUNT,  ANY  AMOUNT OF CREDIT THUS NOT DEDUCTIBLE WILL BE TREATED AS AN
 OVERPAYMENT OF TAX TO BE CREDITED IN ACCORDANCE WITH THE  PROVISIONS  OF
 SECTION  ONE THOUSAND EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER, THE
 PROVISIONS OF SUBSECTION (C) OF SECTION  ONE  THOUSAND  EIGHTY-EIGHT  OF
 THIS CHAPTER NOTWITHSTANDING, NO INTEREST SHALL BE PAID THEREON.
   § 5. This act shall take effect April 1, 2023 and shall apply to taxa-
 ble  years  beginning  on  and  after January 1, 2023 and shall apply to
 wages paid to individuals hired on and after such effective date.