S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1991--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 23, 2023
                                ___________
 
 Introduced  by  M.  of  A.  JOYNER,  ALVAREZ, SEAWRIGHT -- read once and
   referred to the Committee  on  Labor  --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 AN ACT to amend the tax law, in relation to creating a work  opportunity
   tax credit; and providing for the repeal of such provisions upon expi-
   ration thereof
 
   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) EFFECT ON OTHER TAX CREDITS.   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) LIMIT ON TAX CREDITS ISSUED. OVER THE LIFETIME OF THE TAX  CREDIT,
 THE  TOTAL  AMOUNT  OF TAX CREDITS PROVIDED FOR UNDER THIS SECTION SHALL
 NOT EXCEED THIRTY MILLION DOLLARS.
   (E) 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;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06643-05-3
              

 A. 1991--A                          2
 
   (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  FIVE HUNDRED DOLLARS PER ELIGIBLE EMPLOYEE PER
 YEAR IN ANY GIVEN TAX YEAR.
   (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 FIVE HUNDRED DOLLARS  PER  ELIGIBLE  EMPLOYEE  PER
 YEAR 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  FIVE HUNDRED DOLLARS PER ELIGIBLE EMPLOYEE PER YEAR 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, 2024 and shall apply to taxa-
 ble years beginning on and after January 1,  2024  and  shall  apply  to
 wages  paid  to  individuals  hired on and after such effective date and
 shall expire and be deemed repealed December 31, 2026.