senate Bill S310

2011-2012 Legislative Session

Establishes a re-entry employment incentive tax credit

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


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

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 12, 2012 committee discharged and committed to rules
Feb 21, 2012 notice of committee consideration - requested
Jan 04, 2012 referred to investigations and government operations
Jan 05, 2011 referred to investigations and government operations

S310 - Details

See Assembly Version of this Bill:
A1366
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd ยงยง210 & 606, Tax L
Versions Introduced in 2009-2010 Legislative Session:
S243A, A330A

S310 - Summary

Establishes a re-entry employment incentive tax credit for employers who hire individuals who have been released from correctional facilities in this state for full-time employment at a rate that is 140% of the state minimum wage.

S310 - Sponsor Memo

S310 - Bill Text download pdf

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

                                   310

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  Sen.  MONTGOMERY  -- 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 providing a re-entry employ-
  ment  incentive  tax  credit;  and  providing  for  the repeal of such
  provisions upon expiration thereof

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

  Section  1.  Section  210  of  the  tax law is amended by adding a new
subdivision 43 to read as follows:
  43. RE-ENTRY EMPLOYMENT INCENTIVE TAX CREDIT. (A) A TAXPAYER SHALL  BE
ALLOWED  A  CREDIT,  TO BE COMPUTED AS HEREINAFTER PROVIDED, AGAINST THE
TAX IMPOSED BY THIS ARTICLE IN THE AMOUNT PRESCRIBED BY THIS SUBDIVISION
WHERE SUCH TAXPAYER EMPLOYS ONE OR MORE  QUALIFYING  INDIVIDUALS  DESIG-
NATED  PURSUANT TO SUBDIVISION (A) OF SECTION FOUR OF THE CHAPTER OF THE
LAWS OF TWO THOUSAND ELEVEN THAT ADDED THIS SUBDIVISION.
  (B) THE AMOUNT OF THE CREDIT SHALL BE AS FOLLOWS FOR  EACH  QUALIFYING
INDIVIDUAL EMPLOYED BY THE TAXPAYER:
  (I)  FIFTY PERCENT OF THE QUALIFIED WAGES IN THE FIRST YEAR OF EMPLOY-
MENT;
  (II) FORTY PERCENT OF QUALIFIED WAGES IN THE SECOND  YEAR  OF  EMPLOY-
MENT; AND
  (III)  THIRTY  PERCENT OF QUALIFIED WAGES IN THE THIRD YEAR OF EMPLOY-
MENT.
  (C) FOR THE PURPOSES  OF  THIS  SUBDIVISION,  "QUALIFYING  INDIVIDUAL"
SHALL  MEAN AN INDIVIDUAL HIRED BY A TAXPAYER ON OR AFTER JANUARY FIRST,
TWO THOUSAND TWELVE WHO:
  (I) HAS BEEN CONVICTED OF A FELONY IN THIS  STATE  IN  THE  LAST  FIVE
YEARS,  HAS  BEEN  RELEASED  FROM  A CORRECTIONAL FACILITY AS DEFINED IN
SUBDIVISION FOUR OF SECTION TWO OF THE CORRECTION LAW IN THE  LAST  FIVE

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

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