S T A T E O F N E W Y O R K
________________________________________________________________________
1218
2009-2010 Regular Sessions
I N S E N A T E
January 28, 2009
___________
Introduced by Sens. THOMPSON, ONORATO -- read twice and ordered printed,
and when printed to be committed to the Committee on Investigations
and Government Operations
AN ACT to amend the tax law, in relation to increasing the amount of the
credit received through the empire zone wage tax credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The opening paragraph of subparagraph 1 and subparagraph 2
of paragraph (d) of subdivision 19 of section 210 of the tax law, as
amended by section 2 of part BB of chapter 407 of the laws of 1999 and
subparagraph 2 as further amended by section 15 of part GG of chapter 63
of the laws of 2000, are amended to read as follows:
the product of [three] TEN thousand dollars and the average number of
individuals (excluding general executive officers) employed full-time by
the taxpayer, computed pursuant to the provisions of subparagraph three
of paragraph (b) of this subdivision, who
(2) the product of [fifteen hundred] THREE THOUSAND dollars and the
average number of individuals (excluding general executive officers and
individuals described in subparagraph one of this paragraph) employed
full-time by the taxpayer, computed pursuant to the provisions of
subparagraph three of paragraph (b) of this subdivision, who received
empire zone wages for more than half of the taxable year.
S 2. The opening paragraph of subparagraph (i) and subparagraph (ii)
of paragraph 4 of subsection (k) of section 606 of the tax law, as
amended by section 4 of part BB of chapter 407 of the laws of 1999 and
subparagraph (ii) as further amended by section 15 of part GG of chapter
63 of the laws of 2000, are amended to read as follows:
the product of [three] TEN thousand dollars and the average number of
individuals employed full-time by the taxpayer, computed pursuant to the
provisions of subparagraph (C) of paragraph two of this subsection, who
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04666-01-9
S. 1218 2
(ii) the product of [fifteen hundred] THREE THOUSAND dollars and the
average number of individuals (excluding individuals described in
subparagraph (i) of this paragraph) employed full-time by the taxpayer,
computed pursuant to the provisions of subparagraph (C) of paragraph two
of this subsection, who received empire zone wages for more than half of
the taxable year.
S 3. This act shall take effect immediately and shall apply to taxable
years beginning on and after January 1, 2009.