Assembly Bill A7008

2019-2020 Legislative Session

Establishes business franchise and personal income tax credits for a portion of the consideration paid under a contract with a minority or women-owned business

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Archive: Last Bill Status - In Assembly 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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2019-A7008 (ACTIVE) - Details

See Senate Version of this Bill:
S845
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A10138, S6754
2013-2014: A4199, S37
2015-2016: A6982, S1114
2017-2018: A2190, S319
2021-2022: S604

2019-A7008 (ACTIVE) - Summary

Establishes business franchise and personal income tax credits for a portion of the consideration paid under a contract with a minority or women-owned business.

2019-A7008 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7008
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               April 3, 2019
                                ___________
 
 Introduced  by  M. of A. PEOPLES-STOKES -- read once and referred to the
   Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to establishing business  fran-
   chise  and  personal  income  tax credits for certain businesses which
   contract with the state or political subdivisions thereof and in unre-
   lated contracts, also with minority and  women-owned  business  enter-
   prises
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 210-B of the tax law is amended  by  adding  a  new
 subdivision 28 to read as follows:
   28. MINORITY AND WOMEN-OWNED BUSINESS EMPLOYMENT INCENTIVE CREDIT. (A)
 GENERAL.  A  TAXPAYER  SHALL  BE  ALLOWED  A  CREDIT,  TO BE COMPUTED AS
 PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED  BY  THIS  ARTICLE
 FOR  A CERTAIN PORTION OF THE CONSIDERATION PAID TO A MINORITY OR WOMEN-
 OWNED BUSINESS ENTERPRISE PURSUANT TO A CONTRACT FOR  THE  PROVISION  OF
 GOODS  OR SERVICES. THE CREDIT PROVIDED FOR IN THIS SUBDIVISION SHALL BE
 ALLOWED WITH RESPECT TO THE TAX YEAR IN WHICH THE CONSIDERATION IS  PAID
 TO THE MINORITY OR WOMEN-OWNED BUSINESS ENTERPRISE.
   (B)  DEFINITIONS.  FOR THE PURPOSES OF THIS SUBDIVISION, THE FOLLOWING
 TERMS SHALL MEAN:
   (I) "GOVERNMENT AGENCY" MEANS A STATE AGENCY OR A STATE  AUTHORITY  AS
 DEFINED IN SUBDIVISION ELEVEN OF SECTION THREE HUNDRED TEN OF THE EXECU-
 TIVE  LAW,  OR  A POLITICAL SUBDIVISION AS DEFINED IN SUBDIVISION ONE OF
 SECTION ONE HUNDRED OF THE GENERAL MUNICIPAL LAW.
   (II) "MINORITY OR WOMEN-OWNED BUSINESS ENTERPRISE" MEANS  A  MINORITY-
 OWNED  BUSINESS  ENTERPRISE  AS  DEFINED IN SUBDIVISION SEVEN OF SECTION
 THREE HUNDRED TEN OF THE EXECUTIVE LAW OR A WOMEN-OWNED BUSINESS  ENTER-
 PRISE  AS DEFINED IN SUBDIVISION FIFTEEN OF SECTION THREE HUNDRED TEN OF
 THE EXECUTIVE LAW.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04724-01-9
              

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