senate Bill S3999A

2011-2012 Legislative Session

Creates a jobs development incentive income tax credit available to employers who employ individuals previously receiving unemployment

download bill text pdf

Sponsored By

Archive: Last Bill Status - Passed Senate


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

do you support this bill?

Actions

view actions (11)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 20, 2012 referred to labor
delivered to assembly
passed senate
May 30, 2012 advanced to third reading
May 23, 2012 2nd report cal.
May 22, 2012 1st report cal.884
May 02, 2012 reported and committed to finance
Jan 26, 2012 print number 3999a
amend and recommit to investigations and government operations
Jan 04, 2012 referred to investigations and government operations
Mar 11, 2011 referred to investigations and government operations

Votes

view votes

May 22, 2012 - Finance committee Vote

S3999A
22
2
committee
22
Aye
2
Nay
11
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Finance committee vote details

May 2, 2012 - Investigations and Government Operations committee Vote

S3999A
6
1
committee
6
Aye
1
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: May 2, 2012

nay (1)
aye wr (1)

Bill Amendments

Original
A (Active)
Original
A (Active)

Co-Sponsors

view additional co-sponsors

S3999 - Bill Details

See Assembly Version of this Bill:
A10121
Current Committee:
Law Section:
Labor Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in 2009-2010 Legislative Session:
S5264B

S3999 - Bill Texts

view summary

Creates a job development incentive income tax credit available to employers who employ individuals previously receiving unemployment.

view sponsor memo
BILL NUMBER:S3999

TITLE OF BILL:
An act
to amend the tax law, in relation to a
jobs development
incentive income tax credit available to employers who employ
individuals previously receiving unemployment benefits

PURPOSE:
This bill would give incentives, through income tax credits,
to businesses who hire individuals currently receiving unemployment
benefits.

SUMMARY OF SPECIFIC PROVISIONS:
SECTION 1- amends Tax Law Section 210
relating to franchise taxes on business corporations, to add a new
subdivision 43 employment incentive tax credit. The credit is in the
amount of $2,400 for each creditable employee, as defined in the
section.

SECTION 2- amends Tax Law Section 606, relating to personal income
taxes, by adding a new subsection ss granting an employee incentive
tax credit in the amount of $2,400 per creditable employee, as
defined in the section.

SECTION 3- amends subparagraph (B) of paragraph 1 of subsection (i) of
Section 606 of the Tax Law, relating to S corporations, by adding a
new clause (xxxii) providing for an unemployment incentive tax
credit under subsection (ss) in the amount of the credit under
subdivision 43 if Section 210.

SECTION 4 - Effective date.

CURRENT LAW:
There are many tax credits available to individuals and
businesses to promote activities that benefit the state economy.

JUSTIFICATION:
The economic meltdown that has engulfed the world's
economy has left businesses in New York struggling to survive, and
tens of thousands of workers on unemployment. The state needs to act
to help employers and to return unemployed individuals to work. This
bill accomplishes both of these purposes. The bill offers incentives
to employers to rehire workers who have lost their jobs and are on
unemployment.

This bill offers tax credits of up to $2,400 per employee to employers,
whether corporate, individual or an S corporation, for hiring
unemployed persons who meet specified criteria. Both of these credits

offer an additional incentive to employers to take the risk and
increase their workforce.

This bill offers meaningful incentive to hire new employees from the
ranks of the unemployed, and offers new employment opportunity to
individuals.

FISCAL IMPLICATIONS:
To be determined.

LEGISLATIVE HISTORY:
2009 - S.5264-A -- LABOR
2010 - S.5264-B/A.10085-B -- LABOR/Labor

EFFECTIVE DATE:
This act shall take effect immediately.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3999

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             March 11, 2011
                               ___________

Introduced   by   Sens.  RANZENHOFER,  DeFRANCISCO,  GRISANTI,  JOHNSON,
  MAZIARZ, SALAND -- read twice and ordered printed, and when printed to
  be committed to the Committee on Investigations and  Government  Oper-
  ations

AN ACT to amend the tax law, in relation to a jobs development incentive
  income tax credit available to employers who employ individuals previ-
  ously receiving unemployment benefits

  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.  JOBS  DEVELOPMENT  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 CREDITABLE EMPLOYEE.
  (B)  THE  AMOUNT  OF  THE  CREDIT  SHALL  BE TWO THOUSAND FOUR HUNDRED
DOLLARS FOR EACH CREDITABLE EMPLOYEE.
  (C) FOR THE PURPOSES OF THIS SUBDIVISION, "CREDITABLE EMPLOYEE"  SHALL
MEAN A NEW EMPLOYEE OF AN EMPLOYER WHO:
  (I)  IS  EMPLOYED  BY  THE EMPLOYER FOR THE FIRST TIME ON OR AFTER THE
EFFECTIVE DATE OF THIS SUBDIVISION;
  (II) HAS FILED A CLAIM FOR UNEMPLOYMENT COMPENSATION IN THIS STATE;
  (III) HAS RECEIVED UNEMPLOYMENT BENEFITS IN THIS STATE  FOR  AT  LEAST
TWO MONTHS;
  (IV)  IS CURRENTLY RECEIVING WEEKLY UNEMPLOYMENT COMPENSATION BENEFITS
ON THAT CLAIM UNDER THE PROVISIONS OF TITLE SEVEN OF ARTICLE EIGHTEEN OF
THE LABOR LAW; AND
  (V) SUCH BENEFITS ARE CHARGEABLE TO THE EXPERIENCE RATING  ACCOUNT  OF
AN EMPLOYER UNDER THIS ARTICLE; OR
  (VI) HAS SUCCESSFULLY COMPLETED A TRAINING PROGRAM PURSUANT TO SECTION
FIVE HUNDRED NINETY-NINE OF THE LABOR LAW; AND

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02530-01-1

S. 3999                             2

  (VII)  PERFORMS  SERVICES  IN  ACCORDANCE WITH SUBDIVISION ONE, TWO OR
FOUR OF SECTION FIVE HUNDRED ELEVEN OF THE LABOR LAW;
  (VIII)  REMAINS  EMPLOYED  BY  THE  EMPLOYER  FOR AT LEAST TWENTY-FOUR
CONSECUTIVE MONTHS; AND
  (IX) DURING THE ENTIRE PERIOD SUCH  EMPLOYMENT  SHALL  CONSIST  OF  AT
LEAST THIRTY HOURS PER WEEK.
  (D)  FOR  THE  PURPOSES OF THIS SECTION THE FOLLOWING TERMS SHALL HAVE
THE FOLLOWING MEANINGS:
  (I) "NEW EMPLOYEE" SHALL MEAN ANY FULL TIME EMPLOYEE THAT  CAUSES  THE
TOTAL  NUMBER  OF  EMPLOYEES TO INCREASE ABOVE BASE EMPLOYMENT OR CREDIT
EMPLOYMENT, WHICHEVER IS HIGHER.
  (II) "BASE YEAR" SHALL MEAN CALENDAR YEAR TWO THOUSAND ELEVEN.
  (III) "BASE EMPLOYMENT" SHALL MEAN THE  AVERAGE  NUMBER  OF  FULL-TIME
EMPLOYEES  OR FULL-TIME EQUIVALENT EMPLOYEES DURING THE BASE YEAR. FOR A
NEW BUSINESS, BASE EMPLOYMENT SHALL BEGIN AT ZERO.
  (IV) "CREDIT EMPLOYMENT" SHALL MEAN BASE EMPLOYMENT PLUS THE NUMBER OF
NEW EMPLOYEES FOR WHICH A CREDIT IS EARNED.
  (E) AN EMPLOYER WHO HAS ONE OR  MORE  CREDITABLE  EMPLOYEES  SHALL  BE
ELIGIBLE  TO APPLY FOR AND RECEIVE THE CREDIT ESTABLISHED IN THIS SUBDI-
VISION. ELIGIBILITY FOR THE CREDIT SHALL BE ESTABLISHED AS OF  THE  TIME
THE  CREDITABLE  EMPLOYEE  COMPLETES  TWENTY-FOUR  CONSECUTIVE MONTHS OF
EMPLOYMENT, AND THE CREDIT SHALL BE CLAIMED  FOR  THE  TAXABLE  YEAR  IN
WHICH THE TWENTY-FOURTH MONTH OF SUCH EMPLOYMENT IS COMPLETED.
  (F)  IN  NO  EVENT SHALL THE TOTAL AMOUNT OF ANY TAX CREDIT UNDER THIS
SUBDIVISION FOR A TAXABLE YEAR EXCEED THE TAXPAYER'S INCOME TAX  LIABIL-
ITY.  ANY  UNUSED  TAX  CREDIT SHALL BE ALLOWED TO BE CARRIED FORWARD TO
APPLY TO THE TAXPAYER'S SUCCEEDING FIVE YEARS' TAX  LIABILITY.  NO  SUCH
TAX  CREDIT  SHALL  BE  ALLOWED  THE  TAXPAYER  AGAINST PRIOR YEARS' TAX
LIABILITY.
  (G) THE CREDIT SHALL BE CLAIMED AND GRANTED IN SUCH MANNER AS SHALL BE
SPECIFIED BY RULES ADOPTED BY THE COMMISSIONER.
  S 2. Section 606 of the tax law is amended by adding a new  subsection
(ss) to read as follows:
  (SS)  JOBS  DEVELOPMENT  INCENTIVE TAX CREDIT. (1) 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 SUBSECTION
WHERE SUCH TAXPAYER EMPLOYS ONE OR MORE CREDITABLE EMPLOYEE.
  (2) THE AMOUNT OF THE  CREDIT  SHALL  BE  TWO  THOUSAND  FOUR  HUNDRED
DOLLARS FOR EACH CREDITABLE EMPLOYEE.
  (3)  FOR  THE PURPOSES OF THIS SUBSECTION, "CREDITABLE EMPLOYEE" SHALL
MEAN A NEW EMPLOYEE OF AN EMPLOYER WHO:
  (A) IS EMPLOYED BY THE EMPLOYER FOR THE FIRST TIME  ON  OR  AFTER  THE
EFFECTIVE DATE OF THIS SUBSECTION;
  (B) HAS FILED A CLAIM FOR UNEMPLOYMENT COMPENSATION IN THIS STATE;
  (C)  HAS RECEIVED UNEMPLOYMENT BENEFITS IN THIS STATE FOR AT LEAST TWO
MONTHS;
  (D) IS CURRENTLY RECEIVING WEEKLY UNEMPLOYMENT  COMPENSATION  BENEFITS
ON THAT CLAIM UNDER THE PROVISIONS OF TITLE SEVEN OF ARTICLE EIGHTEEN OF
THE LABOR LAW; AND
  (E)  SUCH  BENEFITS ARE CHARGEABLE TO THE EXPERIENCE RATING ACCOUNT OF
AN EMPLOYER UNDER THIS ARTICLE; OR
  (F) HAS SUCCESSFULLY COMPLETED A TRAINING PROGRAM PURSUANT TO  SECTION
FIVE HUNDRED NINETY-NINE OF THE LABOR LAW; AND
  (G)  PERFORMS SERVICES IN ACCORDANCE WITH SUBDIVISION ONE, TWO OR FOUR
OF SECTION FIVE HUNDRED ELEVEN OF THE LABOR LAW;

S. 3999                             3

  (H) REMAINS EMPLOYED BY THE EMPLOYER FOR AT LEAST TWENTY-FOUR  CONSEC-
UTIVE MONTHS; AND
  (I) DURING THE ENTIRE PERIOD SUCH EMPLOYMENT SHALL CONSIST OF AT LEAST
THIRTY HOURS PER WEEK.
  (4) FOR THE PURPOSES OF THIS SUBSECTION THE FOLLOWING TERMS SHALL HAVE
THE FOLLOWING MEANINGS:
  (A)  "NEW  EMPLOYEE" SHALL MEAN ANY FULL TIME EMPLOYEE THAT CAUSES THE
TOTAL NUMBER OF EMPLOYEES TO INCREASE ABOVE BASE  EMPLOYMENT  OR  CREDIT
EMPLOYMENT, WHICHEVER IS HIGHER.
  (B) "BASE YEAR" SHALL MEAN CALENDAR YEAR TWO THOUSAND ELEVEN.
  (C)  "BASE  EMPLOYMENT"  SHALL  MEAN  THE  AVERAGE NUMBER OF FULL TIME
EMPLOYEES OR FULL TIME EQUIVALENT EMPLOYEES DURING THE BASE YEAR. FOR  A
NEW BUSINESS, BASE EMPLOYMENT SHALL BEGIN AT ZERO.
  (D)  "CREDIT EMPLOYMENT" SHALL MEAN BASE EMPLOYMENT PLUS THE NUMBER OF
NEW EMPLOYEES FOR WHICH A CREDIT IS EARNED.
  (5) AN EMPLOYER WHO HAS ONE OR  MORE  CREDITABLE  EMPLOYEES  SHALL  BE
ELIGIBLE  TO  APPLY  FOR  AND  RECEIVE  THE  CREDIT  ESTABLISHED IN THIS
SUBSECTION. ELIGIBILITY FOR THE CREDIT SHALL BE ESTABLISHED  AS  OF  THE
TIME THE CREDITABLE EMPLOYEE COMPLETES TWENTY-FOUR CONSECUTIVE MONTHS OF
EMPLOYMENT,  AND  THE  CREDIT  SHALL  BE CLAIMED FOR THE TAXABLE YEAR IN
WHICH THE TWENTY-FOURTH MONTH OF SUCH EMPLOYMENT IS COMPLETED.
  (6) IN NO EVENT SHALL THE TOTAL AMOUNT OF ANY TAX  CREDIT  UNDER  THIS
SUBSECTION  FOR  A TAXABLE YEAR EXCEED THE TAXPAYER'S INCOME TAX LIABIL-
ITY. ANY UNUSED TAX CREDIT SHALL BE ALLOWED TO  BE  CARRIED  FORWARD  TO
APPLY  TO  THE  TAXPAYER'S SUCCEEDING FIVE YEARS' TAX LIABILITY. NO SUCH
TAX CREDIT SHALL BE  ALLOWED  THE  TAXPAYER  AGAINST  PRIOR  YEARS'  TAX
LIABILITY.
  (7) THE CREDIT SHALL BE CLAIMED AND GRANTED IN SUCH MANNER AS SHALL BE
SPECIFIED BY RULES ADOPTED BY THE COMMISSIONER.
  S  3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a new  clause  (xxxii)  to  read  as
follows:
(XXXII) JOBS DEVELOPMENT INCENTIVE   AMOUNT OF CREDIT UNDER
TAX CREDIT UNDER SUBSECTION (SS)     SUBDIVISION FORTY-THREE OF SECTION
                                     TWO HUNDRED TEN OF THIS CHAPTER
  S 4. This act shall take effect immediately.

Co-Sponsors

view additional co-sponsors

S3999A (ACTIVE) - Bill Details

See Assembly Version of this Bill:
A10121
Current Committee:
Law Section:
Labor Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in 2009-2010 Legislative Session:
S5264B

S3999A (ACTIVE) - Bill Texts

view summary

Creates a job development incentive income tax credit available to employers who employ individuals previously receiving unemployment.

view sponsor memo
BILL NUMBER:S3999A

PURPOSE:
This bill would give incentives, through income tax credits,
to businesses who hire individuals currently receiving unemployment
benefits.

SUMMARY OF SPECIFIC PROVISIONS:
SECTION 1 - amends Tax Law Section 210
relating to franchise taxes on business corporations, to add a new
subdivision 41 granting an employment incentive tax credit. The
credit is in the amount of $2,400 for each creditable employee, as
defined in the section.

SECTION 2 - amends Tax Law Section 606, relating to personal income
taxes, by adding a new subsection (qq) granting an employee incentive
tax credit in the amount of $2,400 per creditable employee, as
defined in the section.

SECTION 3 - amends subparagraph (B) of paragraph 1 of subsection (i)
of Section 606 of the Tax Law, relating to S corporations, by adding
a new clause (xxxi) providing for an employment incentive tax credit
under subsection (qq) in the amount of the credit under subdivision
41 of Section 210.

SECTION 4 - Effective date.

CURRENT LAW:
There are many tax credits available to individuals and
businesses to promote activities that benefit the state economy.

JUSTIFICATION:
The economic meltdown that has engulfed the world's
economy has left businesses in New York struggling to survive, and
tens of thousands of workers on unemployment. The state needs to act
to help employers and to return unemployed individuals to work. This
bill accomplishes both of these purposes. The bill offers incentives
to employers to rehire workers who have lost their jobs and are on
unemployment.

This bill offers tax credits of up to $2,400 per employee to employers,
whether corporate, individual or an S corporation, for hiring
unemployed persons who meet specified criteria. Both of these credits
offer an additional incentive to employers to take the risk and
increase their workforce.

This bill offers meaningful incentive to hire new employees from the
ranks of the unemployed, and offers new employment opportunity to
individuals.

FISCAL IMPLICATIONS:
To be determined.

LEGISLATIVE HISTORY:


2009 - S.5264A -- LABOR
2010 - S.5264B/A.10085B -- LABOR/Labor
2011 - S.3999 -- INVESTIGATIONS

EFFECTIVE DATE:
This act shall take effect immediately.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3999--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             March 11, 2011
                               ___________

Introduced  by  Sens. RANZENHOFER, BALL, DeFRANCISCO, GRISANTI, JOHNSON,
  KLEIN, MAZIARZ, SALAND -- read twice and  ordered  printed,  and  when
  printed to be committed to the Committee on Investigations and Govern-
  ment  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 a jobs development incentive
  income tax credit available to employers who employ individuals previ-
  ously receiving unemployment benefits

  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 45 to read as follows:
  45. JOBS DEVELOPMENT 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 CREDITABLE EMPLOYEE.
  (B) THE AMOUNT OF THE  CREDIT  SHALL  BE  TWO  THOUSAND  FOUR  HUNDRED
DOLLARS FOR EACH CREDITABLE EMPLOYEE.
  (C)  FOR THE PURPOSES OF THIS SUBDIVISION, "CREDITABLE EMPLOYEE" SHALL
MEAN A NEW EMPLOYEE OF AN EMPLOYER WHO:
  (I) IS EMPLOYED BY THE EMPLOYER FOR THE FIRST TIME  ON  OR  AFTER  THE
EFFECTIVE DATE OF THIS SUBDIVISION;
  (II) HAS FILED A CLAIM FOR UNEMPLOYMENT COMPENSATION IN THIS STATE;
  (III)  HAS  RECEIVED  UNEMPLOYMENT BENEFITS IN THIS STATE FOR AT LEAST
TWO MONTHS;
  (IV) IS CURRENTLY RECEIVING WEEKLY UNEMPLOYMENT COMPENSATION  BENEFITS
ON THAT CLAIM UNDER THE PROVISIONS OF TITLE SEVEN OF ARTICLE EIGHTEEN OF
THE LABOR LAW; AND

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02530-02-2

S. 3999--A                          2

  (V)  SUCH  BENEFITS ARE CHARGEABLE TO THE EXPERIENCE RATING ACCOUNT OF
AN EMPLOYER UNDER THIS ARTICLE; OR
  (VI) HAS SUCCESSFULLY COMPLETED A TRAINING PROGRAM PURSUANT TO SECTION
FIVE HUNDRED NINETY-NINE OF THE LABOR LAW; AND
  (VII)  PERFORMS  SERVICES  IN  ACCORDANCE WITH SUBDIVISION ONE, TWO OR
FOUR OF SECTION FIVE HUNDRED ELEVEN OF THE LABOR LAW;
  (VIII) REMAINS EMPLOYED BY  THE  EMPLOYER  FOR  AT  LEAST  TWENTY-FOUR
CONSECUTIVE MONTHS; AND
  (IX)  DURING  THE  ENTIRE  PERIOD  SUCH EMPLOYMENT SHALL CONSIST OF AT
LEAST THIRTY HOURS PER WEEK.
  (D) FOR THE PURPOSES OF THIS SECTION THE FOLLOWING  TERMS  SHALL  HAVE
THE FOLLOWING MEANINGS:
  (I)  "NEW  EMPLOYEE" SHALL MEAN ANY FULL TIME EMPLOYEE THAT CAUSES THE
TOTAL NUMBER OF EMPLOYEES TO INCREASE ABOVE BASE  EMPLOYMENT  OR  CREDIT
EMPLOYMENT, WHICHEVER IS HIGHER.
  (II) "BASE YEAR" SHALL MEAN CALENDAR YEAR TWO THOUSAND ELEVEN.
  (III)  "BASE  EMPLOYMENT"  SHALL  MEAN THE AVERAGE NUMBER OF FULL-TIME
EMPLOYEES OR FULL-TIME EQUIVALENT EMPLOYEES DURING THE BASE YEAR. FOR  A
NEW BUSINESS, BASE EMPLOYMENT SHALL BEGIN AT ZERO.
  (IV) "CREDIT EMPLOYMENT" SHALL MEAN BASE EMPLOYMENT PLUS THE NUMBER OF
NEW EMPLOYEES FOR WHICH A CREDIT IS EARNED.
  (E)  AN  EMPLOYER  WHO  HAS  ONE OR MORE CREDITABLE EMPLOYEES SHALL BE
ELIGIBLE TO APPLY FOR AND RECEIVE THE CREDIT ESTABLISHED IN THIS  SUBDI-
VISION.  ELIGIBILITY  FOR THE CREDIT SHALL BE ESTABLISHED AS OF THE TIME
THE CREDITABLE EMPLOYEE  COMPLETES  TWENTY-FOUR  CONSECUTIVE  MONTHS  OF
EMPLOYMENT,  AND  THE  CREDIT  SHALL  BE CLAIMED FOR THE TAXABLE YEAR IN
WHICH THE TWENTY-FOURTH MONTH OF SUCH EMPLOYMENT IS COMPLETED.
  (F) IN NO EVENT SHALL THE TOTAL AMOUNT OF ANY TAX  CREDIT  UNDER  THIS
SUBDIVISION  FOR A TAXABLE YEAR EXCEED THE TAXPAYER'S INCOME TAX LIABIL-
ITY. ANY UNUSED TAX CREDIT SHALL BE ALLOWED TO  BE  CARRIED  FORWARD  TO
APPLY  TO  THE  TAXPAYER'S SUCCEEDING FIVE YEARS' TAX LIABILITY. NO SUCH
TAX CREDIT SHALL BE  ALLOWED  THE  TAXPAYER  AGAINST  PRIOR  YEARS'  TAX
LIABILITY.
  (G) THE CREDIT SHALL BE CLAIMED AND GRANTED IN SUCH MANNER AS SHALL BE
SPECIFIED BY RULES ADOPTED BY THE COMMISSIONER.
  S  2. Section 606 of the tax law is amended by adding a new subsection
(uu) to read as follows:
  (UU) JOBS DEVELOPMENT INCENTIVE TAX CREDIT. (1) 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  SUBSECTION
WHERE SUCH TAXPAYER EMPLOYS ONE OR MORE CREDITABLE EMPLOYEE.
  (2)  THE  AMOUNT  OF  THE  CREDIT  SHALL  BE TWO THOUSAND FOUR HUNDRED
DOLLARS FOR EACH CREDITABLE EMPLOYEE.
  (3) FOR THE PURPOSES OF THIS SUBSECTION, "CREDITABLE  EMPLOYEE"  SHALL
MEAN A NEW EMPLOYEE OF AN EMPLOYER WHO:
  (A)  IS  EMPLOYED  BY  THE EMPLOYER FOR THE FIRST TIME ON OR AFTER THE
EFFECTIVE DATE OF THIS SUBSECTION;
  (B) HAS FILED A CLAIM FOR UNEMPLOYMENT COMPENSATION IN THIS STATE;
  (C) HAS RECEIVED UNEMPLOYMENT BENEFITS IN THIS STATE FOR AT LEAST  TWO
MONTHS;
  (D)  IS  CURRENTLY RECEIVING WEEKLY UNEMPLOYMENT COMPENSATION BENEFITS
ON THAT CLAIM UNDER THE PROVISIONS OF TITLE SEVEN OF ARTICLE EIGHTEEN OF
THE LABOR LAW; AND
  (E) SUCH BENEFITS ARE CHARGEABLE TO THE EXPERIENCE RATING  ACCOUNT  OF
AN EMPLOYER UNDER THIS ARTICLE; OR

S. 3999--A                          3

  (F)  HAS SUCCESSFULLY COMPLETED A TRAINING PROGRAM PURSUANT TO SECTION
FIVE HUNDRED NINETY-NINE OF THE LABOR LAW; AND
  (G)  PERFORMS SERVICES IN ACCORDANCE WITH SUBDIVISION ONE, TWO OR FOUR
OF SECTION FIVE HUNDRED ELEVEN OF THE LABOR LAW;
  (H) REMAINS EMPLOYED BY THE EMPLOYER FOR AT LEAST TWENTY-FOUR  CONSEC-
UTIVE MONTHS; AND
  (I) DURING THE ENTIRE PERIOD SUCH EMPLOYMENT SHALL CONSIST OF AT LEAST
THIRTY HOURS PER WEEK.
  (4) FOR THE PURPOSES OF THIS SUBSECTION THE FOLLOWING TERMS SHALL HAVE
THE FOLLOWING MEANINGS:
  (A)  "NEW  EMPLOYEE" SHALL MEAN ANY FULL TIME EMPLOYEE THAT CAUSES THE
TOTAL NUMBER OF EMPLOYEES TO INCREASE ABOVE BASE  EMPLOYMENT  OR  CREDIT
EMPLOYMENT, WHICHEVER IS HIGHER.
  (B) "BASE YEAR" SHALL MEAN CALENDAR YEAR TWO THOUSAND ELEVEN.
  (C)  "BASE  EMPLOYMENT"  SHALL  MEAN  THE  AVERAGE NUMBER OF FULL TIME
EMPLOYEES OR FULL TIME EQUIVALENT EMPLOYEES DURING THE BASE YEAR. FOR  A
NEW BUSINESS, BASE EMPLOYMENT SHALL BEGIN AT ZERO.
  (D)  "CREDIT EMPLOYMENT" SHALL MEAN BASE EMPLOYMENT PLUS THE NUMBER OF
NEW EMPLOYEES FOR WHICH A CREDIT IS EARNED.
  (5) AN EMPLOYER WHO HAS ONE OR  MORE  CREDITABLE  EMPLOYEES  SHALL  BE
ELIGIBLE  TO  APPLY  FOR  AND  RECEIVE  THE  CREDIT  ESTABLISHED IN THIS
SUBSECTION. ELIGIBILITY FOR THE CREDIT SHALL BE ESTABLISHED  AS  OF  THE
TIME THE CREDITABLE EMPLOYEE COMPLETES TWENTY-FOUR CONSECUTIVE MONTHS OF
EMPLOYMENT,  AND  THE  CREDIT  SHALL  BE CLAIMED FOR THE TAXABLE YEAR IN
WHICH THE TWENTY-FOURTH MONTH OF SUCH EMPLOYMENT IS COMPLETED.
  (6) IN NO EVENT SHALL THE TOTAL AMOUNT OF ANY TAX  CREDIT  UNDER  THIS
SUBSECTION  FOR  A TAXABLE YEAR EXCEED THE TAXPAYER'S INCOME TAX LIABIL-
ITY. ANY UNUSED TAX CREDIT SHALL BE ALLOWED TO  BE  CARRIED  FORWARD  TO
APPLY  TO  THE  TAXPAYER'S SUCCEEDING FIVE YEARS' TAX LIABILITY. NO SUCH
TAX CREDIT SHALL BE  ALLOWED  THE  TAXPAYER  AGAINST  PRIOR  YEARS'  TAX
LIABILITY.
  (7) THE CREDIT SHALL BE CLAIMED AND GRANTED IN SUCH MANNER AS SHALL BE
SPECIFIED BY RULES ADOPTED BY THE COMMISSIONER.
  S  3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a new  clause  (xxxiv)  to  read  as
follows:
(XXXIV) JOBS DEVELOPMENT INCENTIVE   AMOUNT OF CREDIT UNDER
TAX CREDIT UNDER SUBSECTION (UU)     SUBDIVISION FORTY-FIVE OF SECTION
                                     TWO HUNDRED TEN OF THIS CHAPTER
  S 4. This act shall take effect immediately.

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. 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.