Assembly Bill A9262A

2023-2024 Legislative Session

Establishes a MWBE or SDVOBE subcontractor tax credit

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Sponsored By

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

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Bill Amendments

2023-A9262 - Details

See Senate Version of this Bill:
S9705
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L

2023-A9262 - Summary

Establishes a tax credit for contractors who award a subcontract to MWBE or SDVOBE subcontractors in furtherance of a state contract.

2023-A9262 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9262
 
                           I N  A S S E M B L Y
 
                             February 22, 2024
                                ___________
 
 Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN ACT to amend the tax law, in relation to establishing a MWBE  subcon-
   tractor tax credit
 
   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 60 to read as follows:
   60.  MWBE SUBCONTRACTOR TAX CREDIT. (A) ALLOWANCE OF CREDIT. FOR TAXA-
 BLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWENTY-FIVE,
 AN ELIGIBLE TAXPAYER SHALL BE  ALLOWED  A  CREDIT,  TO  BE  COMPUTED  AS
 PROVIDED  IN  THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY THIS ARTICLE,
 FOR AWARDING A PROFESSIONAL SERVICES, TRADES, OR SUPPLIER SUBCONTRACT TO
 A QUALIFIED SUBCONTRACTOR  IN  FURTHERANCE  OF  A  STATE  CONTRACT.  THE
 TAXPAYER  MAY  CLAIM  THE CREDIT IN THE YEAR IN WHICH PAYMENT IS MADE BY
 THE ELIGIBLE TAXPAYER TO THE QUALIFIED SUBCONTRACTOR FOR THE PERFORMANCE
 OF SUCH SUBCONTRACT. IF THE TAXPAYER CLAIMS  THE  CREDIT  ALLOWED  UNDER
 THIS  SECTION, THE TAXPAYER MAY NOT USE THE AWARDING OF A SUBCONTRACT TO
 A QUALIFIED SUBCONTRACTOR THAT IS THE BASIS FOR THIS CREDIT IN THE BASIS
 OF ANY OTHER CREDIT ALLOWED UNDER THIS ARTICLE.
   (B) DEFINITIONS. (I) THE TERM "QUALIFIED SUBCONTRACTOR" SHALL  MEAN  A
 MINORITY  OR WOMAN-OWNED BUSINESS ENTERPRISE CERTIFIED PURSUANT TO ARTI-
 CLE FIFTEEN-A OF THE EXECUTIVE LAW.
   (II) THE TERM "ELIGIBLE TAXPAYER" SHALL MEAN A CONTRACTOR THAT  AWARDS
 A  SUBCONTRACT  TO  A QUALIFYING SUBCONTRACTOR IN FURTHERANCE OF A STATE
 CONTRACT.
   (III) THE TERM "STATE CONTRACT" SHALL MEAN A CONTRACT FOR THE PURCHASE
 BY THE STATE OF GOODS, PROPERTY, OR SERVICES OR FOR THE CONSTRUCTION  OF
 ANY  BUILDING  OR STRUCTURE FOR THE STATE, WHICH CONTRACT IS EXECUTED BY
 ANY DEPARTMENT, BOARD, BUREAU, COMMISSION, OR AGENCY OF THE STATE, OR BY
 ANY OFFICER, OFFICIAL, EMPLOYEE, OR AGENT THEREOF.
   (C)  CONTRACTOR  PROHIBITION.  A  CONTRACTOR  SHALL  NOT  DISCHARGE  A
 CONTRACT WITH A SUBCONTRACTOR AND HIRE A QUALIFYING SUBCONTRACTOR SOLELY
 FOR THE PURPOSE OF QUALIFYING FOR THIS CREDIT.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

co-Sponsors

2023-A9262A (ACTIVE) - Details

See Senate Version of this Bill:
S9705
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L

2023-A9262A (ACTIVE) - Summary

Establishes a tax credit for contractors who award a subcontract to MWBE or SDVOBE subcontractors in furtherance of a state contract.

2023-A9262A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9262--A
 
                           I N  A S S E M B L Y
 
                             February 22, 2024
                                ___________
 
 Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
   tee 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 establishing a MWBE or
   SDVOBE subcontractor tax credit
 
   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 60 to read as follows:
   60. MWBE OR SDVOBE SUBCONTRACTOR TAX CREDIT. (A) ALLOWANCE OF  CREDIT.
 FOR  TAXABLE  YEARS  BEGINNING  ON  OR AFTER JANUARY FIRST, TWO THOUSAND
 TWENTY-FIVE, AN ELIGIBLE TAXPAYER SHALL  BE  ALLOWED  A  CREDIT,  TO  BE
 COMPUTED  AS  PROVIDED  IN  THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY
 THIS ARTICLE, FOR AWARDING A PROFESSIONAL SERVICES, TRADES, OR  SUPPLIER
 SUBCONTRACT  TO  A  QUALIFIED  SUBCONTRACTOR  IN  FURTHERANCE OF A STATE
 CONTRACT. THE TAXPAYER MAY CLAIM THE CREDIT IN THE YEAR IN WHICH PAYMENT
 IS MADE BY THE ELIGIBLE TAXPAYER TO THE QUALIFIED SUBCONTRACTOR FOR  THE
 PERFORMANCE  OF  SUCH  SUBCONTRACT.  IF  THE  TAXPAYER CLAIMS THE CREDIT
 ALLOWED UNDER THIS SECTION, THE TAXPAYER MAY NOT USE THE AWARDING  OF  A
 SUBCONTRACT  TO  A  QUALIFIED  SUBCONTRACTOR  THAT IS THE BASIS FOR THIS
 CREDIT IN THE BASIS OF ANY OTHER CREDIT ALLOWED UNDER THIS ARTICLE.
   (B) DEFINITIONS. (I) THE TERM "QUALIFIED SUBCONTRACTOR" SHALL  MEAN  A
 MINORITY  OR WOMAN-OWNED BUSINESS ENTERPRISE CERTIFIED PURSUANT TO ARTI-
 CLE FIFTEEN-A OF THE EXECUTIVE LAW OR A  SERVICE-DISABLED  VETERAN-OWNED
 BUSINESS ENTERPRISE CERTIFIED PURSUANT TO ARTICLE THREE OF THE VETERANS'
 SERVICES LAW THAT MAINTAINS THEIR HEADQUARTERS WITHIN NEW YORK STATE.
   (II)  THE TERM "ELIGIBLE TAXPAYER" SHALL MEAN A CONTRACTOR THAT AWARDS
 A SUBCONTRACT TO A QUALIFYING SUBCONTRACTOR IN FURTHERANCE  OF  A  STATE
 CONTRACT.
   (III) THE TERM "STATE CONTRACT" SHALL MEAN A CONTRACT FOR THE PURCHASE
 BY  THE STATE OF GOODS, PROPERTY, OR SERVICES OR FOR THE CONSTRUCTION OF
 ANY BUILDING OR STRUCTURE FOR THE STATE, WHICH CONTRACT IS  EXECUTED  BY
 ANY DEPARTMENT, BOARD, BUREAU, COMMISSION, OR AGENCY OF THE STATE, OR BY
 ANY OFFICER, OFFICIAL, EMPLOYEE, OR AGENT THEREOF.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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