Assembly Bill A6980

2011-2012 Legislative Session

Creates the New York jobs tax credit; personal income tax rates and benefit recapture; entire net income base

download bill text pdf

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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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2011-A6980 (ACTIVE) - Details

See Senate Version of this Bill:
S1891
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Add §31-a, amd §§210, 606, 601 & 611, Tax L

2011-A6980 (ACTIVE) - Summary

Creates the New York jobs tax credit (part A); relates to personal income tax rates and benefit recapture (part B); relates to entire net income base (part C); creates a commission on regulatory reform and economic competitiveness (part D).

2011-A6980 (ACTIVE) - Bill Text download pdf

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

                                  6980

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                              April 7, 2011
                               ___________

Introduced  by  M.  of  A.  SCHIMMINGER -- read once and referred to the
  Committee on Ways and Means

AN ACT to amend the tax law, in relation to the creation of the New York
  jobs tax credit (Part A); to amend the tax law,  in  relation  to  the
  personal income tax rates and benefit recapture (Part B); to amend the
  tax  law, in relation to entire net income base (Part C); and creating
  a commission on regulatory reform and  economic  competitiveness;  and
  providing  for  the  repeal of such provisions upon expiration thereof
  (Part D)

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

  Section  1.  This  act enacts into law major components of legislation
relating to taxes and regulatory reform  and  economic  competitiveness.
Each  component  is wholly contained within a Part identified as Parts A
through D. The effective date for each  particular  provision  contained
within  such  Part  is  set  forth in the last section of such Part. Any
provision in any section contained within a part, including  the  effec-
tive  date  of  the  Part,  which makes referenced to a section "of this
act", when used in connection with that particular component,  shall  be
deemed  to  mean  and  refer to the corresponding section of the Part in
which it is found. Section three of this  act  sets  forth  the  general
effective date of this act.

                                 PART A

  Section 1. The tax law is amended by adding a new section 31-a to read
as follows:
  S 31-A. NEW YORK JOBS TAX CREDIT. (A) ALLOWANCE OF CREDIT. A TAXPAYER,
WHICH IS SUBJECT TO TAX UNDER ARTICLE NINE-A OR TWENTY-TWO OF THIS CHAP-
TER  AND WHICH CREATES A NEW JOB, SHALL BE ALLOWED A CREDIT AGAINST SUCH
TAX. THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SECTION SHALL BE  EQUAL

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08230-01-1
              

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