senate Bill S2117
(R, C, IP) 61st Senate District
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
Creates a job development incentive income tax credit available to employers who employ individuals previously receiving unemployment.
- See Assembly Version of this Bill:
- Legislative Cycle:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§210 & 606, Tax L
- Versions Introduced in Previous Legislative Cycles:
2011-2012: S3999A, A10121
TITLE OF BILL: An act to amend the tax law, in relation to a jobs
development incentive income tax credit available to employers who
employ individuals previously receiving unemployment benefits
PURPOSE: This bill would give incentives, through income tax credits,
to businesses who hire individuals currently receiving unemployment
SUMMARY OF SPECIFIC PROVISIONS: SECTION 1- amends Tax Law Section 210
relating to franchise taxes on business corporations, to add a new
subdivision 41 granting an employment incentive tax credit. The credit
is in the amount of $2,400 for each creditable employee, as defined in
SECTION 2 - amends Tax Law Section 606, relating to personal income
taxes, by adding a new subsection (qq) granting an employee incentive
tax credit in the amount of $2,400 per creditable employee, as defined
in the section.
SECTION 3 - amends subparagraph (B) of paragraph 1 of subsection (i)
of Section 606 of the Tax Law, relating to S corporations, by adding a
new clause (xxxi) providing for an employment incentive tax credit
under subsection (qq) in the amount of the credit under subdivision 41
of Section 210.
SECTION 4 - Effective date.
CURRENT LAW: There are many tax credits available to individuals and
businesses to promote activities that benefit the state economy.
JUSTIFICATION: The economic meltdown that has engulfed the world's
economy has left businesses in New York struggling to survive, and
tens of thousands of workers on unemployment. The state needs to act
to help employers and to return unemployed individuals to work. This
bill accomplishes both of these purposes. The bill offers incentives
to employers to rehire workers who have lost their jobs and are on
This bill offers tax credits of up to $2,400 per employee to
employers, whether corporate, individual or an S corporation, for
hiring unemployed persons who meet specified criteria. Both of these
credits offer an additional incentive to employers to take the risk
and increase their workforce.
This bill offers meaningful incentive to hire new employees from the
ranks of the unemployed, and offers new employment opportunity to
FISCAL IMPLICATIONS: To be determined.
LEGISLATIVE HISTORY: 2009 - S.5264-A - LABOR 2010 -
S.5264-B/A.10085-B -- LABOR/Labor 2011-2012 - S.3999-A/A.10121 PASSED
EFFECTIVE DATE: This act shall take effect immediately.
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