senate Bill S6490

Repeals provisions of law adding a minimum wage reimbursement credit

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 29 / Jan / 2014
    • REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Summary

Repeals provisions of law adding a minimum wage reimbursement credit.

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Bill Details

See Assembly Version of this Bill:
A8344
Versions:
S6490
Legislative Cycle:
2013-2014
Current Committee:
Senate Investigations And Government Operations
Law Section:
Taxation
Laws Affected:
Rpld Part EE, Chap 59 of 2013

Sponsor Memo

BILL NUMBER:S6490

TITLE OF BILL: An act to repeal part EE of chapter 59 of the laws of
2013 amending the tax law relating to adding a minimum wage
reimbursement credit

SUMMARY: This Bill repeals Part EE of chapter 59 of the laws of 2013
that added a minimum wage reimbursement credit.

JUSTIFICATION: The credit reimbursement was considered an interim step
in assisting businesses that intended to hire youth between the ages
of 16 to 19 at the prevailing minimum wage. With economic hrowth and
hiring on solid footing and accelerating across the nation and the
State, this bill would remove a credit that would, in effect,
incentivize businesses to substitute adequately paid older individuals
and non-students with students earning the legal minimum wage.

FISCAL IMPACT: Saves the State of New York $24 million in SFY 2015-16,
$43 million in SFY 2016-17 and $45 million in SFYs 2017-18,
2018-19,2019-20.

LEGISLATIVE HISTORY: New Bill

EFFECTIVE DATE: Effective immediately.

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

                                  6490

                            I N  S E N A T E

                            January 29, 2014
                               ___________

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

AN ACT to repeal part EE of chapter 59 of the laws of 2013 amending  the
  tax law relating to adding a minimum wage reimbursement credit

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

  Section 1. Part EE of chapter 59 of the laws of 2013 amending the  tax
law relating to adding a minimum wage reimbursement credit is REPEALED.
  S  2.  This  act  shall take effect immediately and shall be deemed to
have been in full force and effect on and after the same date part EE of
chapter 59 of the laws of 2013 amending the tax law relating to adding a
minimum wage reimbursement credit took effect.








 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13410-01-4

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