S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8459
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             December 29, 2023
                                ___________
 
 Introduced by M. of A. BYRNES -- read once and referred to the Committee
   on Ways and Means
 
 AN  ACT  to  amend  the  tax  law,  in relation to advance payments of a
   portion of the farm employer overtime tax credit
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  Paragraphs  1 and 2 of subdivision (h) of section 42-a of
 the tax law, as added by section 2 of subpart C of part B of chapter  59
 of the laws of 2022, are amended to read as follows:
   (1)  (I) Taxpayers shall have the option to request an advance payment
 of the portion of the amount of tax credit they are allowed  under  this
 section  for the amount of eligible overtime that the farm employer paid
 from January first through [July] MARCH thirty-first. To be eligible for
 the advance payment, the farm employer must submit by [September thirti-
 eth] MAY THIRTY-FIRST a properly completed application to the department
 of agriculture and markets, in a form prescribed by the commissioner  of
 agriculture  and  markets,  that demonstrates how much the farm employer
 paid in eligible overtime during that period.
   (II) TAXPAYERS SHALL HAVE THE OPTION TO REQUEST AN ADVANCE PAYMENT  OF
 THE  PORTION  OF  THE  AMOUNT  OF TAX CREDIT THEY ARE ALLOWED UNDER THIS
 SECTION FOR THE AMOUNT OF ELIGIBLE OVERTIME THAT THE FARM EMPLOYER  PAID
 FROM  APRIL FIRST THROUGH JUNE THIRTIETH. TO BE ELIGIBLE FOR THE ADVANCE
 PAYMENT, THE FARM EMPLOYER MUST SUBMIT BY AUGUST THIRTY-FIRST A PROPERLY
 COMPLETED APPLICATION TO THE DEPARTMENT OF AGRICULTURE AND MARKETS, IN A
 FORM PRESCRIBED BY THE COMMISSIONER OF  AGRICULTURE  AND  MARKETS,  THAT
 DEMONSTRATES HOW MUCH THE FARM EMPLOYER PAID IN ELIGIBLE OVERTIME DURING
 THAT PERIOD.
   (III) TAXPAYERS SHALL HAVE THE OPTION TO REQUEST AN ADVANCE PAYMENT OF
 THE  PORTION  OF  THE  AMOUNT  OF TAX CREDIT THEY ARE ALLOWED UNDER THIS
 SECTION FOR THE AMOUNT OF ELIGIBLE OVERTIME THAT THE FARM EMPLOYER  PAID
 FROM  JULY  FIRST  THROUGH  SEPTEMBER  THIRTIETH. TO BE ELIGIBLE FOR THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13562-02-3
              

 A. 8459                             2
 
 ADVANCE PAYMENT, THE FARM EMPLOYER MUST SUBMIT BY NOVEMBER  THIRTIETH  A
 PROPERLY  COMPLETED  APPLICATION  TO  THE  DEPARTMENT OF AGRICULTURE AND
 MARKETS, IN A FORM PRESCRIBED BY THE  COMMISSIONER  OF  AGRICULTURE  AND
 MARKETS,  THAT  DEMONSTRATES HOW MUCH THE FARM EMPLOYER PAID IN ELIGIBLE
 OVERTIME DURING THAT PERIOD.
   (IV) After reviewing a farm employer's completed application  for  the
 advance  payment  of a portion of the amount of tax credit allowed under
 this section, the department of agriculture and  markets  may  issue  to
 that  farm employer a certificate of tax credit that specifies the exact
 amount of the tax credit under this article that a taxpayer may claim as
 an advance payment pursuant to this subdivision.
   (2) (I) A taxpayer must submit a request  to  the  department  in  the
 manner prescribed by the commissioner after it has been issued a certif-
 icate  of tax credit by the department of agriculture and markets pursu-
 ant to SUBPARAGRAPH (I) OF paragraph one of this  subdivision  (or  such
 certificate  has been issued to a partnership, limited liability company
 or subchapter S corporation in which it is a partner, member  or  share-
 holder, respectively, that is a farm employer), but such request must be
 submitted  no  later  than [November] JULY first of the taxable year for
 which the credit is being claimed.
   (II) A TAXPAYER MUST SUBMIT A REQUEST TO THE DEPARTMENT IN THE  MANNER
 PRESCRIBED BY THE COMMISSIONER AFTER IT HAS BEEN ISSUED A CERTIFICATE OF
 TAX  CREDIT  BY  THE  DEPARTMENT  OF AGRICULTURE AND MARKETS PURSUANT TO
 SUBPARAGRAPH (II) OF PARAGRAPH ONE OF THIS SUBDIVISION (OR SUCH  CERTIF-
 ICATE  HAS  BEEN  ISSUED  TO A PARTNERSHIP, LIMITED LIABILITY COMPANY OR
 SUBCHAPTER S CORPORATION IN WHICH IT IS A PARTNER, MEMBER OR  SHAREHOLD-
 ER,  RESPECTIVELY,  THAT  IS  A FARM EMPLOYER), BUT SUCH REQUEST MUST BE
 SUBMITTED NO LATER THAN OCTOBER FIRST OF THE TAXABLE YEAR FOR WHICH  THE
 CREDIT IS BEING CLAIMED.
   (III) A TAXPAYER MUST SUBMIT A REQUEST TO THE DEPARTMENT IN THE MANNER
 PRESCRIBED BY THE COMMISSIONER AFTER IT HAS BEEN ISSUED A CERTIFICATE OF
 TAX  CREDIT  BY  THE  DEPARTMENT  OF AGRICULTURE AND MARKETS PURSUANT TO
 SUBPARAGRAPH (III) OF PARAGRAPH ONE OF THIS SUBDIVISION (OR SUCH CERTIF-
 ICATE HAS BEEN ISSUED TO A PARTNERSHIP,  LIMITED  LIABILITY  COMPANY  OR
 SUBCHAPTER  S CORPORATION IN WHICH IT IS A PARTNER, MEMBER OR SHAREHOLD-
 ER, RESPECTIVELY, THAT IS A FARM EMPLOYER), BUT  SUCH  REQUEST  MUST  BE
 SUBMITTED NO LATER THAN JANUARY FIRST OF THE CALENDAR YEAR FOLLOWING THE
 TAXABLE YEAR FOR WHICH THE CREDIT IS BEING CLAIMED.
   (IV)  For those taxpayers who have requested an advance payment PURSU-
 ANT TO SUBPARAGRAPHS (I), (II), OR (III) OF THIS PARAGRAPH and for  whom
 the  commissioner  has  determined  to  be eligible for this credit, the
 commissioner shall advance a payment of the portion of the amount of tax
 credit allowed to the taxpayer. The taxpayer will claim on  the  taxpay-
 ers' return for the taxable year the portion of the amount of tax credit
 allowed  for  eligible  overtime paid by the farm employer from [August]
 OCTOBER first through December thirty-first. The taxpayer must  properly
 reconcile  the advance payment of tax credit allowed under this subdivi-
 sion on the taxpayer's return.
   § 2. This act shall take effect January 1, 2025.