NY State Senate Bill 2021-S4680

Senate Bill S4680

2021-2022 Legislative Session

Establishes a small business tax credit for certain efforts taken to improve such small business's facility in an effort to reduce the spread of infectious diseases

download bill text pdf

Archive: Last Bill Status - In Senate Committee Budget And Revenue 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

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 05, 2022	referred to budget and revenue
Feb 08, 2021	referred to budget and revenue

2021-S4680 (ACTIVE) - Details

See Assembly Version of this Bill:: A3566
Current Committee:: Senate Budget And Revenue
Law Section:: Tax Law
Laws Affected:: Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:: 2019-2020: A10543
2023-2024: S4301, A3695

2021-S4680 (ACTIVE) - Summary

Establishes a small business tax credit for certain efforts taken to improve such small business's facility in an effort to reduce the spread of infectious diseases.

2021-S4680 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S4680

SPONSOR: PALUMBO
 
TITLE OF BILL:

An act to amend the tax law, in relation to establishing a small busi-
ness tax credit for certain efforts taken to improve such small busi-
ness's facility in an effort to reduce the spread of infectious diseases

 
PURPOSE:

To incentivize businesses to make improvements to their facility in
order to better stop the spread of infectious diseases which will both
improve our State's public health and allow many businesses the ability
to operate in a safer manner.

 
SUMMARY OF PROVISIONS:

Section 1. Would amend section 210-b of the tax law by adding subdivi-
sion 55 which would:  Allow a taxpayer that is a small business owner a
credit against taxes imposed for efforts taken to improve such taxpay-

er's facility in an effort to reduce the spread of infectious diseases.
Establish the amount of the credit to not exceed five thousand dollars
for each location where new amenities have been constructed, installed,
built and/or equipped.

Allows the tax credit to be carried over to the following three years if
there is leftover credit. Defines "small business.' for this subdivision
as any business having fifty or fewer employees. Section

2. Amends section 606 of the tax law in the same manner as 210-b was
amended.

 
JUSTIFICATION:

The COVID-l9 pandemic has brought to light how susceptible our State is
to highly communicable diseases and this legislation aims to increase
protections and preparedness for any current or future infectious
disease outbreak.

As we have seen with the COVID-I9 pandemic, many instances where the
transmission of the virus occurred, could have been prevented with
simple measures. Over the course of the COVID-19 pandemic, many business
owners have taken it upon themselves to construct barriers, install new
ventilation systems, build safer business access points and install
touchless doors, sinks and various other appliances.  These upgrades not
only protect these businesses, their employees and customers today but
will do so for many years to come.

These changes should be widespread across all businesses in New York
State and the financial support and incentive from our State Government
will help to make this a reality.

 
LEGISLATIVE HISTORY:

2020: A.10543

 
FISCAL IMPLICATIONS:

$100 million

 
EFFECTIVE DATE:
This act shall take effect on the first of January next succeeding the
date on which it shall have become a law.

2021-S4680 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4680
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 8, 2021
                                ___________
 
 Introduced  by  Sen. PALUMBO -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law, in relation to establishing a  small  busi-
   ness  tax credit for certain efforts taken to improve such small busi-
   ness's facility in an  effort  to  reduce  the  spread  of  infectious
   diseases
 
   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 55 to read as follows:
   55.  SMALL  BUSINESS  TAX  CREDIT; INFECTIOUS DISEASE MITIGATION.  (A)
 GENERAL. A TAXPAYER THAT IS A SMALL BUSINESS SHALL BE ALLOWED A  CREDIT,
 TO  BE COMPUTED AS PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED
 BY THIS ARTICLE FOR EFFORTS TAKEN TO IMPROVE SUCH TAXPAYER'S FACILITY IN
 AN EFFORT TO REDUCE THE SPREAD OF INFECTIOUS DISEASES.
   (B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY  THIS  SECTION  SHALL  BE
 EQUAL TO THE AMOUNT OF MONEY SPENT BY AN ELIGIBLE TAXPAYER TO CONSTRUCT,
 INSTALL, BUILD, AND/OR EQUIP SUCH TAXPAYER'S FACILITY WITH NEW AMENITIES
 PRIMARILY  INTENDED  TO  REDUCE  THE  SPREAD OF INFECTIOUS DISEASES, BUT
 SHALL NOT EXCEED FIVE THOUSAND DOLLARS TOTAL  FOR  EACH  LOCATION  WHERE
 SUCH  NEW  AMENITIES  HAVE  BEEN  CONSTRUCTED,  INSTALLED, BUILT, AND/OR
 EQUIPPED.
   (C) CARRYOVER. THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXA-
 BLE YEAR SHALL 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 CREDIT  ALLOWABLE
 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 NOT DEDUCTIBLE IN SUCH TAXABLE YEAR
 MAY  BE  CARRIED  OVER TO THE FOLLOWING THREE YEARS, AND MAY BE DEDUCTED
 FROM THE QUALIFIED EMPLOYER'S TAX FOR SUCH YEARS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD06255-01-1

 S. 4680                             2
 
   (D) DEFINITIONS. AS USED IN THIS SUBDIVISION, THE  TERM  "SMALL  BUSI-
 NESS" SHALL MEAN ANY BUSINESS HAVING FIFTY OR FEWER EMPLOYEES.
   (E)  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. Section 606 of the tax law is amended by adding a new subsection
 (lll) to read as follows:
   (LLL) SMALL BUSINESS TAX CREDIT; INFECTIOUS DISEASE MITIGATION.    (1)
 GENERAL.  A TAXPAYER THAT IS A SMALL BUSINESS SHALL BE ALLOWED A CREDIT,
 TO BE COMPUTED AS PROVIDED IN THIS SUBSECTION, AGAINST THE  TAX  IMPOSED
 BY THIS ARTICLE FOR EFFORTS TAKEN TO IMPROVE SUCH TAXPAYER'S FACILITY IN
 AN EFFORT TO REDUCE THE SPREAD OF INFECTIOUS DISEASES.
   (2)  AMOUNT  OF  CREDIT.  A CREDIT AUTHORIZED BY THIS SECTION SHALL BE
 EQUAL TO THE AMOUNT OF MONEY SPENT BY AN ELIGIBLE TAXPAYER TO CONSTRUCT,
 INSTALL, BUILD, AND/OR EQUIP SUCH TAXPAYER'S FACILITY WITH NEW AMENITIES
 PRIMARILY INTENDED TO REDUCE THE  SPREAD  OF  INFECTIOUS  DISEASES,  BUT
 SHALL  NOT  EXCEED  FIVE  THOUSAND DOLLARS TOTAL FOR EACH LOCATION WHERE
 SUCH NEW AMENITIES  HAVE  BEEN  CONSTRUCTED,  INSTALLED,  BUILT,  AND/OR
 EQUIPPED.
   (3)  CARRYOVER. THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY TAXA-
 BLE YEAR SHALL 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 CHAPTER. HOWEVER, IF THE AMOUNT OF CREDIT  ALLOWABLE
 UNDER  THIS  SUBSECTION  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 NOT DEDUCTIBLE IN SUCH TAXABLE YEAR
 MAY  BE  CARRIED  OVER TO THE FOLLOWING THREE YEARS, AND MAY BE DEDUCTED
 FROM THE QUALIFIED EMPLOYER'S TAX FOR SUCH YEARS.
   (4) DEFINITIONS. AS USED IN THIS SUBSECTION, THE TERM "SMALL BUSINESS"
 SHALL MEAN ANY BUSINESS HAVING FIFTY OR FEWER EMPLOYEES.
   (5) 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.
   § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
 of  the  tax  law  is  amended  by adding a new clause (xlvi) to read as
 follows:
 (XLVI) SMALL BUSINESS TAX CREDIT;    AMOUNT OF CREDIT UNDER
 INFECTIOUS DISEASE MITIGATION        SUBDIVISION FIFTY-FIVE OF
 UNDER SUBSECTION (LLL)               SECTION TWO HUNDRED
                                      TEN-B
   § 4. This act shall take effect on the first of January next  succeed-
 ing the date on which it shall have become a law.

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