Senate Bill S645A

2015-2016 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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Bill Amendments

co-Sponsors

2015-S645 - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §210-B, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: S4106
2011-2012: S5351
2013-2014: S528
2017-2018: S5102

2015-S645 - 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 regulations of the department of taxation and finance promulgated in consultation with the department of labor.

2015-S645 - Sponsor Memo

2015-S645 - Bill Text download pdf

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

                                   645

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by Sens. KENNEDY, ESPAILLAT -- read twice and ordered print-
  ed, and when printed to be committed  to  the  Committee  on  Investi-
  gations and Government 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 1 of section 210-B of the tax law is amended by
adding a new paragraph (g) to read as follows:
  (G) IN ADDITION TO THE CREDIT ALLOWED BY PARAGRAPH (A) OF THIS  SUBDI-
VISION,  FOR  TAXABLE  YEARS  BEGINNING AFTER DECEMBER THIRTY-FIRST, TWO
THOUSAND FIFTEEN 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 CONSUL-
TATION WITH THE DEPARTMENT OF LABOR, SHALL PROMULGATE  RULES  AND  REGU-
LATIONS TO DETERMINE AND IDENTIFY ELIGIBLE TRAINING PROGRAMS PURSUANT TO
THIS PARAGRAPH.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03226-01-5


              

co-Sponsors

2015-S645A (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §210-B, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: S4106
2011-2012: S5351
2013-2014: S528
2017-2018: S5102

2015-S645A (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 regulations of the department of taxation and finance promulgated in consultation with the department of labor.

2015-S645A (ACTIVE) - Sponsor Memo

2015-S645A (ACTIVE) - Bill Text download pdf

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

                                 645--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by Sens. KENNEDY, ESPAILLAT -- read twice and ordered print-
  ed, and when printed to be committed  to  the  Committee  on  Investi-
  gations  and  Government Operations -- recommitted to the Committee on
  Investigations and Government Operations  in  accordance  with  Senate
  Rule  6,  sec.  8  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to said committee

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 1 of section 210-B of the tax law is amended by
adding a new paragraph (g) to read as follows:
  (G)  IN ADDITION TO THE CREDIT ALLOWED BY PARAGRAPH (A) OF THIS SUBDI-
VISION, FOR TAXABLE YEARS BEGINNING  AFTER  DECEMBER  THIRTY-FIRST,  TWO
THOUSAND  SIXTEEN  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  CONSUL-
TATION  WITH  THE  DEPARTMENT OF LABOR, SHALL PROMULGATE RULES AND REGU-
LATIONS TO DETERMINE AND IDENTIFY ELIGIBLE TRAINING PROGRAMS PURSUANT TO
THIS PARAGRAPH.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03226-02-6


              

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