Senate Bill S2526

2023-2024 Legislative Session

Relates to the employee training incentive program

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Commerce, Economic Development And Small Business 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

2023-S2526 (ACTIVE) - Details

See Assembly Version of this Bill:
A2963
Current Committee:
Senate Commerce, Economic Development And Small Business
Law Section:
Economic Development Law
Laws Affected:
Amd §443, Ec Dev L
Versions Introduced in Other Legislative Sessions:
2019-2020: S6841
2021-2022: S2173, A5362

2023-S2526 (ACTIVE) - Summary

Increases the amount of the credit of eligible training costs from fifty percent to seventy percent for the employee training incentive program.

2023-S2526 (ACTIVE) - Sponsor Memo

2023-S2526 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2526
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 23, 2023
                                ___________
 
 Introduced  by  Sen. HELMING -- read twice and ordered printed, and when
   printed to be committed to the Committee on Commerce, Economic  Devel-
   opment and Small Business
 
 AN ACT to amend the economic development law, in relation to the employ-
   ee training incentive program

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 3 of section 443 of  the  economic  development
 law,  as added by section 1 of part O of chapter 59 of the laws of 2015,
 is amended to read as follows:
   3. The commissioner may approve an application from a business  entity
 upon  determining that such business entity meets the eligibility crite-
 ria established in section  four  hundred  forty-two  of  this  article.
 Following  approval  by the commissioner of an application by a business
 entity to participate in the employee training  incentive  program,  the
 commissioner  shall  issue  a  certificate of tax credit to the business
 entity upon its demonstrating successful  completion  of  such  eligible
 training  to the satisfaction of the commissioner. For eligible training
 as defined by paragraph (a) of subdivision three of section four hundred
 forty-one of this article the amount of the credit  shall  be  equal  to
 [fifty]  SEVENTY  percent  of eligible training costs, up to a credit of
 ten thousand dollars  per  employee  receiving  eligible  training.  For
 eligible  training  as  defined by paragraph (b) of subdivision three of
 section four hundred forty-one of this article, the amount of the credit
 shall be equal to fifty percent of the stipend paid to an intern, up  to
 a  credit of three thousand dollars per intern. The tax credits shall be
 claimed by the qualified employer as specified in subdivision  fifty  of
 section  two  hundred  ten-B and subsection (ddd) of section six hundred
 six of the tax law.
   § 2. This act shall take effect immediately.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04923-01-3

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.