S T A T E O F N E W Y O R K
________________________________________________________________________
3892--A
2013-2014 Regular Sessions
I N S E N A T E
February 26, 2013
___________
Introduced by Sen. BALL -- read twice and ordered printed, and when
printed to be committed to the Committee on Veterans, Homeland Securi-
ty and Military Affairs -- recommitted to the Committee on Veterans,
Homeland Security and Military Affairs 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 establishing business fran-
chise and personal income tax credits for employers which employ
combat veterans
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 48 to read as follows:
48. CREDIT FOR EMPLOYMENT OF COMBAT VETERANS. (A) ALLOWANCE OF CREDIT.
A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS
SUBDIVISION, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR EMPLOYING
WITHIN THE STATE A COMBAT VETERAN.
(B) COMBAT VETERAN. A COMBAT VETERAN IS A PERSON WHO SERVED IN THE
ARMED SERVICES OF THE UNITED STATES WITHIN TWO YEARS OF COMMENCING
EMPLOYMENT BY THE TAXPAYER, WHO SERVED IN A COMBAT ZONE AS DESIGNATED BY
THE PRESIDENT OF THE UNITED STATES BY EXECUTIVE ORDER, AND WHO HAS BEEN
HONORABLY DISCHARGED OR RELEASED UNDER HONORABLE CIRCUMSTANCES FROM SUCH
SERVICE OR FURLOUGHED TO THE RESERVE.
(C) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL BE SIX THOUSAND
DOLLARS FOR EACH COMBAT VETERAN EMPLOYED BY THE TAXPAYER DURING THE
TAXABLE YEAR ON A FULL-TIME BASIS OF THIRTY-FIVE HOURS OR MORE OF WORK
PER WEEK. THE CREDIT PROVIDED BY THIS SUBDIVISION MAY ONLY BE CLAIMED,
WITH REGARD TO ANY COMBAT VETERAN, IF SUCH VETERAN HAS BEEN EMPLOYED BY
THE TAXPAYER ON A FULL-TIME BASIS FOR AT LEAST TWENTY-FIVE CONSECUTIVE
WEEKS. PROVIDED THAT THE TAXPAYER MAY ONLY CLAIM CREDIT FOR A COMBAT
VETERAN FOR THE TAXABLE YEAR IN WHICH SUCH VETERAN COMPLETED THE EMPLOY-
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07356-02-4
S. 3892--A 2
MENT DURATION REQUIREMENT OF THIS PARAGRAPH AND THE IMMEDIATELY
SUCCEEDING TAXABLE YEAR IF SUCH VETERAN HAS BEEN CONTINUOUSLY EMPLOYED
BY THE TAXPAYER FOR AT LEAST ONE YEAR.
(D) CARRYOVER. THE CREDIT ALLOWED PURSUANT TO THIS SUBDIVISION FOR ANY
TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE
AMOUNT PRESCRIBED IN PARAGRAPHS (C) AND (D) OF SUBDIVISION ONE OF THIS
SECTION. HOWEVER, IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBDIVI-
SION FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF
CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE
FOLLOWING YEAR OR YEARS, AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR
SUCH YEAR OR YEARS.
S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a new clause (xxxvii) to read as
follows:
(XXXVII) CREDIT FOR EMPLOYMENT AMOUNT OF CREDIT FOR
OF COMBAT VETERANS UNDER EMPLOYMENT OF COMBAT
SUBSECTION (XX) VETERANS UNDER SUBDIVISION
FORTY-EIGHT OF SECTION
TWO HUNDRED TEN
S 3. Section 606 of the tax law is amended by adding a new subsection
(xx) to read as follows:
(XX) CREDIT FOR EMPLOYMENT OF COMBAT VETERANS. (1) ALLOWANCE OF CRED-
IT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN
THIS SUBSECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR EMPLOYING
WITHIN THE STATE A COMBAT VETERAN.
(2) COMBAT VETERAN. A COMBAT VETERAN IS A PERSON WHO SERVED IN THE
ARMED SERVICES OF THE UNITED STATES WITHIN TWO YEARS OF COMMENCING
EMPLOYMENT BY THE TAXPAYER, WHO SERVED IN A COMBAT ZONE AS DESIGNATED BY
THE PRESIDENT OF THE UNITED STATES BY EXECUTIVE ORDER, AND WHO HAS BEEN
HONORABLY DISCHARGED OR RELEASED UNDER HONORABLE CIRCUMSTANCES FROM SUCH
SERVICE OR FURLOUGHED TO THE RESERVE.
(3) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL BE SIX THOUSAND
DOLLARS FOR EACH COMBAT VETERAN EMPLOYED BY THE TAXPAYER DURING THE
TAXABLE YEAR ON A FULL-TIME BASIS OF THIRTY-FIVE HOURS OR MORE OF WORK
PER WEEK. THE CREDIT PROVIDED BY THIS SUBSECTION MAY ONLY BE CLAIMED,
WITH REGARD TO ANY COMBAT VETERAN, IF SUCH VETERAN HAS BEEN EMPLOYED BY
THE TAXPAYER ON A FULL-TIME BASIS FOR AT LEAST TWENTY-FIVE CONSECUTIVE
WEEKS. PROVIDED THAT THE TAXPAYER MAY ONLY CLAIM CREDIT FOR A COMBAT
VETERAN FOR THE TAXABLE YEAR IN WHICH SUCH VETERAN COMPLETED THE EMPLOY-
MENT DURATION REQUIREMENT OF THIS PARAGRAPH AND THE IMMEDIATELY SUCCEED-
ING TAXABLE YEAR IF SUCH VETERAN HAS BEEN CONTINUOUSLY EMPLOYED BY THE
TAXPAYER FOR AT LEAST ONE YEAR.
(4) CARRYOVER. IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS
SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH
YEAR, THE EXCESS MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS, AND
MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
S 4. This act shall take effect immediately and shall apply to taxable
years commencing on or after January 1, 2014.