Senate Bill S4106

2009-2010 Legislative Session

Provides for a corporate franchise tax credit for employee training expenses in an eligible business facility

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Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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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2009-S4106 (ACTIVE) - Details

See Assembly Version of this Bill:
A2897
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §210, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S5351, A3417
2013-2014: S528, A2642
2015-2016: S645
2017-2018: S5102

2009-S4106 (ACTIVE) - Summary

Establishes a five percent investment tax credit against the franchise tax imposed upon corporations for a portion of training or retraining expenses incurred by them in an eligible business facility, pursuant to rules and regulation of the department of taxation and finance promulgated in consultation with the department of labor.

2009-S4106 (ACTIVE) - Sponsor Memo

2009-S4106 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4106

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                              April 9, 2009
                               ___________

Introduced by Sen. AUBERTINE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN  ACT  to amend the tax law, in relation to providing for a tax credit
  for certain training or retraining expenses  incurred  by  a  taxpayer
  subject to the provisions of article 9-A of such law

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 12 of section 210 of the tax law is amended  by
adding a new paragraph (n) to read as follows:
  (N)  IN ADDITION TO THE CREDIT ALLOWED BY PARAGRAPH (A) OF THIS SUBDI-
VISION, FOR TAXABLE YEARS BEGINNING  AFTER  DECEMBER  THIRTY-FIRST,  TWO
THOUSAND NINE THERE SHALL BE ALLOWED A CREDIT IN AN AMOUNT EQUAL TO FIVE
PERCENT  OF THE EXPENDITURES PAID OR INCURRED BY A TAXPAYER FOR TRAINING
OR RETRAINING OF EMPLOYEES IF SUCH TRAINING WAS GIVEN BY A  TAXPAYER  IN
AN  ELIGIBLE  BUSINESS  FACILITY. THE COMMISSIONER, IN CONSULTATION WITH
THE DEPARTMENT OF LABOR,  SHALL  PROMULGATE  RULES  AND  REGULATIONS  TO
DETERMINE AND IDENTIFY ELIGIBLE TRAINING PROGRAMS PURSUANT TO THIS PARA-
GRAPH.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03947-01-9


              

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