S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2989
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 1, 2023
                                ___________
 
 Introduced by M. of A. JENSEN -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the tax law, in relation to establishing certain credits
   against income tax for nurses
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Section 606 of the tax law is amended  by  adding  two  new
 subsections (ooo) and (ppp) to read as follows:
   (OOO)  CREDIT FOR FULL-TIME NURSES. (1) AMOUNT OF CREDIT.  FOR TAXABLE
 YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND  TWENTY-FOUR,  A
 TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
 CLE,  WHERE  THE TAXPAYER IS LICENSED AS A REGISTERED PROFESSIONAL NURSE
 OR LICENSED PRACTICAL NURSE PURSUANT TO ARTICLE ONE HUNDRED  THIRTY-NINE
 OF  THE  EDUCATION LAW AND HAS BEEN EMPLOYED ON A FULL-TIME BASIS WITHIN
 THIS STATE AS A NURSE FOR NOT LESS THAN SIX MONTHS  DURING  THE  TAXABLE
 YEAR.    THE  AMOUNT  OF  SUCH CREDIT SHALL BE FIVE HUNDRED DOLLARS. FOR
 PURPOSES OF THIS SUBSECTION, THE TERM "EMPLOYED ON  A  FULL-TIME  BASIS"
 SHALL MEAN EMPLOYMENT OF NOT LESS THAN THIRTY HOURS PER WEEK.
   (2)  APPLICATION OF CREDIT. IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS
 SUBSECTION FOR ANY TAXABLE YEAR EXCEEDS  THE  TAXPAYER'S  TAX  FOR  SUCH
 YEAR,  THE  EXCESS  WILL  BE TREATED AS AN OVERPAYMENT TO BE CREDITED OR
 REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHT-
 Y-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST WILL BE  PAID
 THEREON.
   (PPP)  CREDIT  FOR  TEACHING NURSES. (1) AMOUNT OF CREDIT. FOR TAXABLE
 YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND  TWENTY-FOUR,  A
 TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
 CLE,  WHERE  THE TAXPAYER IS LICENSED AS A REGISTERED PROFESSIONAL NURSE
 OR LICENSED PRACTICAL NURSE PURSUANT TO ARTICLE ONE HUNDRED  THIRTY-NINE
 OF THE EDUCATION LAW AND WHO TEACHES NURSING AT AN INSTITUTION OF HIGHER
 EDUCATION  FOR  NOT  LESS  THAN  SIX MONTHS DURING THE TAXABLE YEAR. THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06264-01-3
              

 A. 2989                             2
 
 AMOUNT OF SUCH CREDIT SHALL BE FIVE HUNDRED  DOLLARS.  FOR  PURPOSES  OF
 THIS  SUBSECTION,  THE TERM "INSTITUTION OF HIGHER EDUCATION" SHALL MEAN
 ANY INSTITUTION OF HIGHER EDUCATION OR  BUSINESS,  TRADE,  TECHNICAL  OR
 OTHER  OCCUPATIONAL  SCHOOL,  RECOGNIZED AND APPROVED BY THE REGENTS, OR
 ANY SUCCESSOR ORGANIZATION, OF THE UNIVERSITY OF THE STATE OF  NEW  YORK
 OR  ACCREDITED  BY A NATIONALLY RECOGNIZED ACCREDITING AGENCY OR ASSOCI-
 ATION ACCEPTED AS SUCH BY THE REGENTS, OR ANY SUCCESSOR ORGANIZATION, OF
 THE UNIVERSITY OF THE STATE OF NEW YORK,  WHICH  PROVIDES  A  COURSE  OF
 STUDY LEADING TO THE GRANTING OF A POST-SECONDARY DEGREE, CERTIFICATE OR
 DIPLOMA.
   (2)  APPLICATION  OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWED UNDER
 THIS SUBSECTION FOR ANY TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR SUCH
 YEAR, THE EXCESS WILL BE TREATED AS AN OVERPAYMENT  TO  BE  CREDITED  OR
 REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHT-
 Y-SIX  OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST WILL BE PAID
 THEREON.
   § 2. This act shall take effect immediately.