senate Bill S1707A

2013-2014 Legislative Session

Establishes a returning veterans tax credit for businesses that hire veterans and disabled veterans

download bill text pdf

Sponsored By

Archive: Last Bill Status -


  • 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
Jan 08, 2014 referred to investigations and government operations
Oct 09, 2013 print number 1707a
amend and recommit to investigations and government operations
Jan 09, 2013 referred to investigations and government operations

Co-Sponsors

view additional co-sponsors

S1707 - Details

See Assembly Version of this Bill:
A4098A
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S6024C, A8837C

S1707 - Summary

Establishes a returning veterans tax credit for businesses that hire veterans and disabled veterans; provides that such tax credit is worth $3,000 per veteran hired or $4,000 for every disabled veteran hired and the total benefit shall not exceed $15,000 annually.

S1707 - Sponsor Memo

S1707 - Bill Text download pdf

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

                                  1707

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sens. GRISANTI, BONACIC, GOLDEN, LARKIN, MAZIARZ, SEWARD
  -- 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  establishing  a  returning
  veterans tax credit for businesses that hire 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 46 to read as follows:
  46.  RETURNING  VETERANS  TAX CREDIT. (A) GENERAL. A TAXPAYER SHALL BE
ALLOWED A CREDIT, TO  BE  COMPUTED  AS  PROVIDED  IN  THIS  SUBDIVISION,
AGAINST  THE  TAX  IMPOSED  BY THIS ARTICLE FOR EACH VETERAN OR DISABLED
VETERAN HIRED DURING A TAXABLE YEAR, PROVIDED THAT:
  (I) SUCH VETERAN IS A NEW EMPLOYEE AND  IS  EMPLOYED  FOR  THIRTY-FIVE
HOURS  OR  MORE  PER WEEK AND REMAINS IN THE EMPLOY OF SUCH TAXPAYER FOR
TWELVE MONTHS OR MORE; OR
  (II) SUCH DISABLED VETERAN IS A  NEW  EMPLOYEE  WHO  IS  EMPLOYED  FOR
SEVENTEEN  AND ONE-HALF HOURS OR MORE PER WEEK AND REMAINS IN THE EMPLOY
OF SUCH TAXPAYER FOR TWELVE MONTHS OR MORE.
  (B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
THREE  THOUSAND  DOLLARS PER HIRED VETERAN AND FOUR THOUSAND DOLLARS PER
HIRED DISABLED VETERAN BUT SHALL NOT  EXCEED  FIFTEEN  THOUSAND  DOLLARS
ANNUALLY.
  (C)  CARRYOVERS.  THE  CREDIT  ALLOWED  UNDER  THIS SUBDIVISION MAY BE
CLAIMED AND IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH  THE  CREDIT
IS  CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE TEN SUCCEEDING
TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
  (D) DEFINITIONS. AS USED IN  THIS  SUBDIVISION,  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.

Co-Sponsors

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S1707A (ACTIVE) - Details

See Assembly Version of this Bill:
A4098A
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S6024C, A8837C

S1707A (ACTIVE) - Summary

Establishes a returning veterans tax credit for businesses that hire veterans and disabled veterans; provides that such tax credit is worth $3,000 per veteran hired or $4,000 for every disabled veteran hired and the total benefit shall not exceed $15,000 annually.

S1707A (ACTIVE) - Sponsor Memo

S1707A (ACTIVE) - Bill Text download pdf

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

                                 1707--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by Sens. GRISANTI, AVELLA, BONACIC, GOLDEN, LARKIN, MAZIARZ,
  O'MARA, SEWARD -- read twice and ordered printed, and when printed  to
  be  committed  to the Committee on Investigations and Government Oper-
  ations -- committee discharged, bill  amended,  ordered  reprinted  as
  amended and recommitted to said committee

AN  ACT  to  amend  the tax law, in relation to establishing a returning
  veterans tax credit for businesses that hire 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. RETURNING VETERANS TAX CREDIT. (A) GENERAL. A  TAXPAYER  SHALL  BE
ALLOWED  A  CREDIT,  TO  BE  COMPUTED  AS  PROVIDED IN THIS SUBDIVISION,
AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR  EACH  VETERAN  OR  DISABLED
VETERAN HIRED DURING A TAXABLE YEAR, PROVIDED THAT:
  (I)  SUCH  VETERAN  IS  A NEW EMPLOYEE AND IS EMPLOYED FOR THIRTY-FIVE
HOURS OR MORE PER WEEK AND REMAINS IN THE EMPLOY OF  SUCH  TAXPAYER  FOR
TWELVE MONTHS OR MORE; OR
  (II)  SUCH  DISABLED  VETERAN  IS  A  NEW EMPLOYEE WHO IS EMPLOYED FOR
SEVENTEEN AND ONE-HALF HOURS OR MORE PER WEEK AND REMAINS IN THE  EMPLOY
OF SUCH TAXPAYER FOR TWELVE MONTHS OR MORE.
  (B)  AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL EQUAL
THREE THOUSAND DOLLARS PER HIRED VETERAN AND FOUR THOUSAND  DOLLARS  PER
HIRED  DISABLED  VETERAN  BUT  SHALL NOT EXCEED FIFTEEN THOUSAND DOLLARS
ANNUALLY.
  (C) CARRYOVERS. THE CREDIT  ALLOWED  UNDER  THIS  SUBDIVISION  MAY  BE
CLAIMED  AND  IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH THE CREDIT
IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE TEN  SUCCEEDING
TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.

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

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