S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4012
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 30, 2025
                                ___________
 
 Introduced  by  M.  of A. BRONSON, RAGA, TAPIA, SHIMSKY, STECK, HYNDMAN,
   WEPRIN -- read once and referred to the Committee on Ways and Means
 
 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 50  to  read
 as follows:
   §  50. 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 SHALL 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 NINETY MILLION DOLLARS IN TOTAL, OR  THIRTY  MILLION  DOLLARS
 FOR EACH TAXABLE YEAR.
   (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 61;
   (2) ARTICLE 22: SECTION 606, SUBSECTION (BBB);
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00450-02-5
              

 A. 4012                             2
 
   (3) ARTICLE 33: SECTION 1511, SUBDIVISION (FF).
   §  2. Section 210-B of the tax law is amended by adding a new subdivi-
 sion 61 to read as follows:
   61. WORK OPPORTUNITY TAX CREDIT. (A) ALLOWANCE OF CREDIT.  A  TAXPAYER
 SHALL  BE  ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION FIFTY
 OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE.   SUCH  CREDIT
 SHALL  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 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. 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  FIFTY
 OF  THIS  CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE.  SUCH CREDIT
 SHALL 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 (ff) to read as follows:
   (FF) WORK OPPORTUNITY TAX CREDIT. (1) ALLOWANCE OF CREDIT.  A TAXPAYER
 SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN  SECTION  FIFTY
 OF  THIS  CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE.  SUCH CREDIT
 SHALL 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, 2026 and shall apply to taxa-
 ble  years  beginning  on  and  after January 1, 2026 and shall apply to
 wages paid to individuals hired on and after  such  effective  date  and
 shall expire and be deemed repealed December 31, 2028.