S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    175
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 8, 2025
                                ___________
 
 Introduced by M. of A. ANGELINO, BENDETT, BRABENEC, LEMONDES, MANKTELOW,
   McDONOUGH,  MILLER,  MORINELLO, TAGUE -- read once and referred to the
   Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to establishing  a  credit  for
   developing a college to work program

   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 61 to read as follows:
   61.  CREDIT  FOR  COLLEGE  TO WORK PROGRAM. (A) ALLOWANCE OF CREDIT. A
 TAXPAYER SHALL BE ALLOWED  A  CREDIT,  TO  BE  COMPUTED  AS  HEREINAFTER
 PROVIDED,  AGAINST  THE  TAX  IMPOSED  BY  THIS  ARTICLE, BASED UPON ITS
 PAYMENT OF TUITION TO AN INSTITUTION OF HIGHER EDUCATION ON BEHALF OF AN
 INDIVIDUAL IN EXCHANGE FOR THE  INDIVIDUAL  AGREEING  TO  WORK  FOR  THE
 TAXPAYER  FOR  A  NUMBER  OF  YEARS, AS SET FORTH IN A WRITTEN AGREEMENT
 BETWEEN THE TAXPAYER AND THE INDIVIDUAL.
   (B) TUITION. FOR THE PURPOSES OF THIS CREDIT, THE TERM "TUITION" SHALL
 MEAN THE TUITION AND FEES PAID FOR THE ENROLLMENT AND ATTENDANCE  OF  AN
 INDIVIDUAL AT AN INSTITUTION OF HIGHER EDUCATION, AS WELL AS MONIES PAID
 FOR  TEXTBOOKS IN CONNECTION WITH ATTENDANCE AT AN INSTITUTION OF HIGHER
 EDUCATION.  PROVIDED, HOWEVER, ANY AMOUNTS WHICH HAVE BEEN PAID  FOR  OR
 REIMBURSED  BY  ANY  OTHER  SCHOLARSHIPS  OR  FINANCIAL  AID, OR TUITION
 REQUIRED FOR ENROLLMENT OR ATTENDANCE IN A COURSE OF  STUDY  LEADING  TO
 THE  GRANTING OF A POST BACCALAUREATE OR OTHER GRADUATE DEGREE, SHALL BE
 EXCLUDED FROM THE DEFINITION OF "TUITION".
   (C) INSTITUTION OF HIGHER EDUCATION. FOR THE PURPOSES OF THIS  CREDIT,
 THE TERM "INSTITUTION OF HIGHER EDUCATION" SHALL MEAN ANY INSTITUTION OF
 HIGHER EDUCATION, RECOGNIZED AND APPROVED BY THE REGENTS, OR ANY SUCCES-
 SOR  ORGANIZATION, OF THE UNIVERSITY OF THE STATE OF NEW YORK OR ACCRED-
 ITED BY  A  NATIONALLY  RECOGNIZED  ACCREDITING  AGENCY  OR  ASSOCIATION
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD01143-01-5
 A. 175                              2
 
 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.
   (D) QUALIFIED INDIVIDUAL. FOR PURPOSES OF THIS CREDIT, THE TERM "QUAL-
 IFIED  INDIVIDUAL"  SHALL MEAN ANY INDIVIDUAL WHO IS NOT A SPOUSE, CHILD
 OR DEPENDENT OF THE TAXPAYER OR ANY INDIVIDUAL  WHO  IS  NOT  A  SPOUSE,
 CHILD OR DEPENDENT OF ANY OFFICER OR EMPLOYEE OF THE TAXPAYER.
   (E) WRITTEN AGREEMENT.  FOR PURPOSES OF THIS CREDIT, THE TERM "WRITTEN
 AGREEMENT"  SHALL  MEAN A DOCUMENT SIGNED AND DATED BY BOTH THE TAXPAYER
 AND THE QUALIFIED INDIVIDUAL WHICH CONTAINS PROVISIONS INCLUDING BUT NOT
 LIMITED TO THE MINIMUM SALARY WHICH THE TAXPAYER WILL PAY TO THE  QUALI-
 FIED INDIVIDUAL UPON COMPLETION OF THE INDIVIDUAL'S DEGREE; THE REQUIRED
 DURATION  OF  EMPLOYMENT UPON COMPLETION OF THE INDIVIDUAL'S DEGREE; AND
 THE PARTIES' RESPECTIVE RESPONSIBILITIES IN THE EVENT THAT THE  TAXPAYER
 CEASES  OPERATIONS OR LATER DECIDES NOT TO OFFER EMPLOYMENT TO THE INDI-
 VIDUAL UPON COMPLETION OF THEIR DEGREE OR IN THE EVENT THAT  THE  QUALI-
 FIED INDIVIDUAL FAILS TO COMPLETE THE DEGREE OR TO WORK FOR THE TAXPAYER
 FOR THE AGREED UPON TERM.
   (F) AMOUNT OF CREDIT. NOTWITHSTANDING THE PROVISIONS OF ANY OTHER LAW,
 A  TAXPAYER  WHICH  PROVIDES  FOR THE PAYMENT OF AN INDIVIDUAL'S TUITION
 UNDER THE COLLEGE TO WORK PROGRAM ESTABLISHED BY THIS SUBDIVISION, SHALL
 BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED  BY  THIS  ARTICLE,  TO  THE
 EXTENT  OF  TWENTY-FIVE  PERCENT  OF  MONIES  PAID FOR EACH INDIVIDUAL'S
 TUITION, BUT SUCH CREDIT SHALL NOT EXCEED FIVE THOUSAND DOLLARS FOR  ONE
 YEAR FOR EACH SUCH QUALIFIED INDIVIDUAL.
   (G) CARRYOVER. THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXA-
 BLE  YEAR  SHALL  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.  PROVIDED, HOWEVER, IF THE AMOUNT OF CREDIT
 ALLOWABLE UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE TAX TO
 SUCH  AMOUNT,  ANY  AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR
 MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS, AND MAY BE  DEDUCTED
 FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
   §  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding  a  new  clause  (lii)  to  read  as
 follows:

 (LII) COLLEGE TO WORK PROGRAM        AMOUNT OF CREDIT UNDER
 CREDIT UNDER SUBSECTION (S-1)        SUBDIVISION SIXTY-ONE
                                      OF SECTION TWO HUNDRED TEN-B
 
   §  3. Section 606 of the tax law is amended by adding a new subsection
 (s-1) to read as follows:
   (S-1) CREDIT FOR COLLEGE TO WORK PROGRAM. (1) ALLOWANCE OF  CREDIT.  A
 TAXPAYER  SHALL  BE  ALLOWED  A  CREDIT,  TO  BE COMPUTED AS HEREINAFTER
 PROVIDED, AGAINST THE TAX IMPOSED  BY  THIS  ARTICLE,  BASED  UPON  SUCH
 TAXPAYER'S  PAYMENT  OF TUITION TO AN INSTITUTION OF HIGHER EDUCATION ON
 BEHALF OF AN INDIVIDUAL IN EXCHANGE FOR THE INDIVIDUAL AGREEING TO  WORK
 FOR THE TAXPAYER FOR A NUMBER OF YEARS, AS SET FORTH IN A WRITTEN AGREE-
 MENT BETWEEN THE TAXPAYER AND THE INDIVIDUAL.
   (2) TUITION. FOR THE PURPOSES OF THIS CREDIT, THE TERM "TUITION" SHALL
 MEAN  THE  TUITION AND FEES PAID FOR THE ENROLLMENT AND ATTENDANCE OF AN
 INDIVIDUAL AT AN INSTITUTION OF HIGHER EDUCATION, AS WELL AS MONIES PAID
 FOR TEXTBOOKS IN CONNECTION WITH ATTENDANCE AT AN INSTITUTION OF  HIGHER
 EDUCATION.  PROVIDED,  HOWEVER,  ANY AMOUNTS WHICH HAVE BEEN PAID FOR OR
 A. 175                              3
 
 REIMBURSED BY ANY  OTHER  SCHOLARSHIPS  OR  FINANCIAL  AID,  OR  TUITION
 REQUIRED  FOR  ENROLLMENT  OR ATTENDANCE IN A COURSE OF STUDY LEADING TO
 THE GRANTING OF A POST BACCALAUREATE OR OTHER GRADUATE DEGREE, SHALL  BE
 EXCLUDED FROM THE DEFINITION OF "TUITION".
   (3)  INSTITUTION OF HIGHER EDUCATION. FOR THE PURPOSES OF THIS CREDIT,
 THE TERM "INSTITUTION OF HIGHER EDUCATION" SHALL MEAN ANY INSTITUTION OF
 HIGHER EDUCATION, RECOGNIZED AND APPROVED BY THE REGENTS, OR ANY SUCCES-
 SOR ORGANIZATION, OF THE UNIVERSITY OF THE STATE OF NEW YORK OR  ACCRED-
 ITED  BY  A  NATIONALLY  RECOGNIZED  ACCREDITING  AGENCY  OR ASSOCIATION
 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.
   (4) QUALIFIED INDIVIDUAL. FOR PURPOSES OF THIS CREDIT, THE TERM "QUAL-
 IFIED  INDIVIDUAL"  SHALL MEAN ANY INDIVIDUAL WHO IS NOT A SPOUSE, CHILD
 OR DEPENDENT OF THE TAXPAYER OR ANY INDIVIDUAL  WHO  IS  NOT  A  SPOUSE,
 CHILD OR DEPENDENT OF ANY OFFICER OR EMPLOYEE OF THE TAXPAYER.
   (5)  WRITTEN AGREEMENT. FOR PURPOSES OF THIS CREDIT, THE TERM "WRITTEN
 AGREEMENT" SHALL MEAN A DOCUMENT SIGNED AND DATED BY BOTH  THE  TAXPAYER
 AND THE QUALIFIED INDIVIDUAL WHICH CONTAINS PROVISIONS INCLUDING BUT NOT
 LIMITED  TO THE MINIMUM SALARY WHICH THE TAXPAYER WILL PAY TO THE QUALI-
 FIED INDIVIDUAL UPON COMPLETION OF THE INDIVIDUAL'S DEGREE; THE REQUIRED
 DURATION OF EMPLOYMENT UPON COMPLETION OF THE INDIVIDUAL'S  DEGREE;  AND
 THE  PARTIES' RESPECTIVE RESPONSIBILITIES IN THE EVENT THAT THE TAXPAYER
 CEASES OPERATIONS OR LATER DECIDES NOT TO OFFER EMPLOYMENT TO THE  INDI-
 VIDUAL  UPON  COMPLETION OF THEIR DEGREE OR IN THE EVENT THAT THE QUALI-
 FIED INDIVIDUAL FAILS TO COMPLETE THE DEGREE OR TO WORK FOR THE TAXPAYER
 FOR THE AGREED UPON TERM.
   (6) AMOUNT OF CREDIT. NOTWITHSTANDING THE PROVISIONS OF ANY OTHER LAW,
 A TAXPAYER WHO PROVIDES FOR THE PAYMENT OF AN INDIVIDUAL'S TUITION UNDER
 THE COLLEGE TO WORK PROGRAM ESTABLISHED BY  THIS  SUBSECTION,  SHALL  BE
 ALLOWED  A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE, TO THE EXTENT
 OF TWENTY-FIVE PERCENT OF MONIES PAID FOR EACH INDIVIDUAL'S TUITION, BUT
 SUCH CREDIT SHALL NOT EXCEED FIVE THOUSAND DOLLARS FOR ONE YEAR FOR EACH
 SUCH QUALIFIED INDIVIDUAL.
   (7) CARRYOVER. IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBSECTION
 FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX AMOUNT, ANY  AMOUNT
 OF  THE  EXCESS  MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS, AND
 MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
   § 4. This act shall take effect immediately and  shall  apply  to  all
 taxable years commencing after January 1, 2025.