Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2024 |
referred to ways and means |
Feb 27, 2023 |
print number 1756a |
Feb 27, 2023 |
amend (t) and recommit to ways and means |
Jan 20, 2023 |
referred to ways and means |
Assembly Bill A1756A
2023-2024 Legislative Session
Sponsored By
JONES
Current 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
William Colton
Inez E. Dickens
Monica P. Wallace
Jaime R. Williams
multi-Sponsors
Jo Anne Simon
2023-A1756 - Details
2023-A1756 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1756 2023-2024 Regular Sessions I N A S S E M B L Y January 20, 2023 ___________ Introduced by M. of A. JONES, COLTON, DICKENS, WALLACE, WILLIAMS, RIVERA, MORINELLO, BLANKENBUSH, HEVESI, CARROLL -- Multi-Sponsored by -- M. of A. SIMON -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to creating a tax credit for employers who reduce the governmental education loans of their employ- ees and said employees who receive such reduction in governmental education loans 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 59 to read as follows: 59. EMPLOYEE INDEBTEDNESS REDUCTION CREDIT. (A) ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN PARA- GRAPH (B) OF THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY THIS ARTICLE, IF IT PROVIDES FOR A PAYMENT, ON BEHALF OF AN EMPLOYEE, OF ANY INDEBT- EDNESS OF THE EMPLOYEE UNDER A GOVERNMENTAL EDUCATION LOAN OR ANY INTER- EST RELATING TO SUCH A LOAN. FOR PURPOSES OF THIS SUBDIVISION, "GOVERN- MENTAL EDUCATION LOAN" SHALL MEAN ANY EDUCATION LOAN DEBT, INCLUDING JUDGMENTS, OWED TO THE FEDERAL OR NEW YORK STATE GOVERNMENT OR ANY OTHER INSTITUTION. (B) AMOUNT OF CREDIT. THE CREDIT ALLOWED PURSUANT TO PARAGRAPH (A) OF THIS SUBDIVISION SHALL BE IN AN AMOUNT EQUAL TO THE TAXPAYER'S PAYMENT, ON BEHALF OF AN EMPLOYEE, OF ANY INDEBTEDNESS OF THE EMPLOYEE UNDER A GOVERNMENTAL EDUCATION LOAN OR ANY INTEREST RELATING TO SUCH A LOAN. PROVIDED, HOWEVER, THAT NO SUCH CREDIT ALLOWED UNDER THIS SUBDIVISION SHALL EXCEED TEN THOUSAND DOLLARS FOR EACH EMPLOYEE EMPLOYED BY SUCH EMPLOYER. (C) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE AMOUNT PRESCRIBED IN PARAGRAPH (D) OF SUBDIVISION ONE OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02267-01-3
co-Sponsors
William Colton
Inez E. Dickens
Monica P. Wallace
Jaime R. Williams
multi-Sponsors
Jo Anne Simon
2023-A1756A (ACTIVE) - Details
2023-A1756A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1756--A 2023-2024 Regular Sessions I N A S S E M B L Y January 20, 2023 ___________ Introduced by M. of A. JONES, COLTON, DICKENS, WALLACE, WILLIAMS, RIVERA, MORINELLO, BLANKENBUSH, HEVESI, CARROLL -- Multi-Sponsored by -- M. of A. SIMON -- 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 creating a tax credit for employers who reduce the governmental education loans of their employ- ees 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 59 to read as follows: 59. EMPLOYEE INDEBTEDNESS REDUCTION CREDIT. (A) ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN PARA- GRAPH (B) OF THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY THIS ARTICLE, IF IT PROVIDES FOR A PAYMENT, ON BEHALF OF AN EMPLOYEE, OF ANY INDEBT- EDNESS OF THE EMPLOYEE UNDER A GOVERNMENTAL EDUCATION LOAN OR ANY INTER- EST RELATING TO SUCH A LOAN. FOR PURPOSES OF THIS SUBDIVISION, "GOVERN- MENTAL EDUCATION LOAN" SHALL MEAN ANY EDUCATION LOAN DEBT, INCLUDING JUDGMENTS, OWED TO THE FEDERAL OR NEW YORK STATE GOVERNMENT OR ANY OTHER INSTITUTION. (B) AMOUNT OF CREDIT. THE CREDIT ALLOWED PURSUANT TO PARAGRAPH (A) OF THIS SUBDIVISION SHALL BE IN AN AMOUNT EQUAL TO THE TAXPAYER'S PAYMENT, ON BEHALF OF AN EMPLOYEE, OF ANY INDEBTEDNESS OF THE EMPLOYEE UNDER A GOVERNMENTAL EDUCATION LOAN OR ANY INTEREST RELATING TO SUCH A LOAN. PROVIDED, HOWEVER, THAT NO SUCH CREDIT ALLOWED UNDER THIS SUBDIVISION SHALL EXCEED TEN THOUSAND DOLLARS FOR EACH EMPLOYEE EMPLOYED BY SUCH EMPLOYER. (C) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE AMOUNT PRESCRIBED IN PARAGRAPH (D) OF SUBDIVISION ONE OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02267-03-3
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