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Senate Bill S1589

2013-2014 Legislative Session

Relates to the employment of New York state residents by taxpayers eligible to receive certain tax credits

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Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

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2013-S1589 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd ยง210, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S6538

2013-S1589 (ACTIVE) - Summary

Provides that a taxpayer shall not be eligible for any credit or credits provided by section 210 of the tax law for the purposes of engaging in a development project, the cost of which exceeds one million dollars, unless such taxpayer has submitted a statement that 85% of the labor force hired to complete such development project consists of residents of this state.

2013-S1589 (ACTIVE) - Sponsor Memo

2013-S1589 (ACTIVE) - Bill Text download pdf 

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

                                  1589

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by Sen. GRISANTI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation to the employment of  New  York
  state residents by taxpayers eligible to receive certain tax credits

  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 46 to read as follows:
  46.  EMPLOYMENT  OF NEW YORK STATE RESIDENTS. (A) A TAXPAYER SHALL NOT
BE ENTITLED TO RECEIVE ANY CREDIT OR CREDITS PROVIDED  BY  THIS  SECTION
FOR  THE PURPOSE OF ENGAGING IN A DEVELOPMENT PROJECT, THE COST OF WHICH
EXCEEDS ONE MILLION DOLLARS, UNLESS SUCH TAXPAYER HAS  SUBMITTED,  ON  A
FORM  AND  IN  A  MANNER  TO  BE DETERMINED BY THE COMMISSIONER, A SWORN
STATEMENT IN WRITING, UNDER OATH, ALONG WITH SUCH SUPPORTING  DOCUMENTA-
TION  AS  THE  COMMISSIONER MAY REQUIRE, THAT EIGHTY-FIVE PERCENT OF THE
LABOR FORCE HIRED TO COMPLETE SUCH DEVELOPMENT PROJECT DURING THE  TAXA-
BLE YEAR FOR WHICH SUCH STATEMENT IS SUBMITTED CONSISTED OF RESIDENTS OF
THIS  STATE.    FOR  PURPOSES OF THIS SUBDIVISION, "DEVELOPMENT PROJECT"
SHALL MEAN THE REHABILITATION, IMPROVEMENT, CONSTRUCTION OR ACQUISITION,
SINGLY OR IN COMBINATION, OF ONE OR MORE BUILDINGS OR STRUCTURES.
  (B) NOTWITHSTANDING THE FOREGOING, A TAXPAYER SUBJECT TO THIS SUBDIVI-
SION MAY RECEIVE ANY CREDIT PROVIDED BY THIS  SECTION  IF  IT  CAN  SHOW
THAT:
  (I)  IT  MADE DILIGENT EFFORTS TO HIRE RESIDENT EMPLOYEES, BUT NO SUCH
EMPLOYEES EXISTED OR WERE QUALIFIED FOR THE EMPLOYMENT POSITION;
  (II) THE EMPLOYMENT POSITION REQUIRES  SPECIALIZED  TALENTS  THAT  CAN
ONLY  BE  FILLED BY INDIVIDUALS WHO HAPPEN TO RESIDE OUTSIDE THIS STATE;
OR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04714-01-3

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