senate Bill S3738A

2013-2014 Legislative Session

Establishes a small business tax credit for the employment of persons fifty-five years of age and older

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Archive: Last Bill Status - In Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 12, 2014 print number 3738b
amend and recommit to investigations and government operations
Jan 08, 2014 referred to investigations and government operations
Apr 26, 2013 print number 3738a
amend and recommit to investigations and government operations
Feb 13, 2013 referred to investigations and government operations

Bill Amendments

Original
A
B (Active)
Original
A
B (Active)

S3738 - Bill Details

See Assembly Version of this Bill:
A6767
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S4108A

S3738 - Bill Texts

view summary

Establishes a small business tax credit for the employment of persons fifty-five years of age and older.

view sponsor memo
BILL NUMBER:S3738

TITLE OF BILL: An act to amend the tax law, in relation to establishing
a small business tax credit for the employment of persons fifty-five
years of age or older

PURPOSE: To stimulate employment of persons fifty-five or older who
face unprecedented challenges in reentering the workforce or continuing
employment.

SUMMARY OF PROVISIONS:

Section 1: Amendment to section 210, subdivision 45 of the tax law, for
the providence of a business tax credit for the employer in regards to
employment of persons age fifty-five or older for the duration of twelve
months or more, and for thirty-five hours or more per week. Tax credit
range will range between five thousand to twenty-five thousand dollars.

Section 2: The adoption of a new clause (xxxv) in section 606 of the tax
law, specifying preceded amendment.

Section 3: Amendment to section 606 of the tax law, detailing the compo-
nents of the business tax credit for the employment of persons fifty-
five or older in a company of one hundred employees or less.

JUSTIFICATION:

Although the rate of unemployment among older workers is lower than that
for their younger counterparts, as explained by the Bureau of Labor
Statistics, older persons who do become unemployed spend more time
searching for work. A February 2010 study found older workers were unem-
ployed for an average of thirty-six weeks, compared to twenty-three
weeks for persons aged sixteen through twenty-four, and thirty weeks for
persons aged twenty-five through fifty-four. Older workers often
encounter challenges when trying to remain or reengage in the work
force. Many of these challenges stem from policies that were created
years ago when there was a labor surplus, before the recent shifts to a
knowledge-based economy and trends in population demographics.

As cost-of-living expenses increase, the financial needs and desires of
older workers is compromised, leaving older workers no other viable
option but to return to the workforce or continue employment. Home
values, often a family's most important asset, have plummeted. Addi-
tionally, an April 2010 Gallup poll found more than a third of people
plan to work beyond age sixty-five, compared to twelve percent in 1995.

Offering tax credit incentives to small businesses that employ persons
ages fifty-five or older will keep older residents from leaving the
state, whereby further contributing to the economic upheaval of the
state and the sharing of wisdom from an older workforce to a younger
generation.

LEGISLATIVE HISTORY:

2011-2012: S. 4108A - Referred to Investigations and Government Oper-
ations.

FISCAL IMPLICATIONS:

To be determined.

EFFECTIVE DATE:

Shall take effect immediately and apply to taxable years beginning on or
after January 1, 2014.

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

                                  3738

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 13, 2013
                               ___________

Introduced  by  Sen. ADDABBO -- 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 establishing a  small  busi-
  ness  tax credit for the employment of persons fifty-five years of age
  or older

  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. SMALL BUSINESS TAX CREDIT; PERSONS AGE FIFTY-FIVE OR OLDER.    (A)
GENERAL.  A  TAXPAYER  WHO  HAS  ONE HUNDRED EMPLOYEES OR LESS, SHALL BE
ALLOWED A CREDIT, TO  BE  COMPUTED  AS  PROVIDED  IN  THIS  SUBDIVISION,
AGAINST  THE  TAX IMPOSED BY THIS ARTICLE FOR EACH PERSON AGE FIFTY-FIVE
OR OLDER HIRED DURING A TAXABLE YEAR,  PROVIDED  THAT  SUCH  PERSON  AGE
FIFTY-FIVE  OR OLDER  IS EMPLOYED FOR THIRTY-FIVE 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
FIVE THOUSAND DOLLARS PER HIRED PERSON AGE FIFTY-FIVE OR OLDER BUT SHALL
NOT EXCEED TWENTY-FIVE THOUSAND DOLLARS.
  (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 FIVE SUCCEEDING
TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
  S  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a  new  clause  (xxxv)  to  read  as
follows:
(XXXV) SMALL BUSINESS TAX CREDIT;    COSTS UNDER SUBDIVISION
PERSONS FIFTY-FIVE YEARS OF AGE OR   FORTY-SIX OF SECTION
OLDER SUBSECTION (VV)                TWO HUNDRED TEN

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08261-01-3

S. 3738                             2

  S  3. Section 606 of the tax law is amended by adding a new subsection
(vv) to read as follows:
  (VV)  SMALL BUSINESS TAX CREDIT; PERSONS AGE FIFTY-FIVE OR OLDER.  (A)
GENERAL. A TAXPAYER WHO HAS ONE HUNDRED  EMPLOYEES  OR  LESS,  SHALL  BE
ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBSECTION, AGAINST
THE  TAX IMPOSED BY THIS ARTICLE FOR EACH PERSON AGE FIFTY-FIVE OR OLDER
HIRED DURING A TAXABLE YEAR, PROVIDED THAT SUCH PERSON AGE FIFTY-FIVE OR
OLDER IS EMPLOYED FOR THIRTY-FIVE 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
FIVE THOUSAND DOLLARS PER HIRED PERSON AGE FIFTY-FIVE OR OLDER BUT SHALL
NOT EXCEED TWENTY-FIVE THOUSAND DOLLARS.
  (C) CARRYOVERS. THE CREDIT ALLOWED IN THIS SUBSECTION 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  FIVE  SUCCEEDING
TAXABLE YEARS.  THE CREDIT AUTHORIZED BY THIS SUBSECTION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
  S 4. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2014.

S3738A - Bill Details

See Assembly Version of this Bill:
A6767
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S4108A

S3738A - Bill Texts

view summary

Establishes a small business tax credit for the employment of persons fifty-five years of age and older.

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

                                 3738--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 13, 2013
                               ___________

Introduced  by  Sen. ADDABBO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment  Operations  --  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 small busi-
  ness tax credit for the employment of persons fifty-five years of  age
  or older

  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 47 to read as follows:
  47.  SMALL  BUSINESS TAX CREDIT; PERSONS AGE FIFTY-FIVE OR OLDER.  (A)
GENERAL. A TAXPAYER WHO HAS ONE HUNDRED  EMPLOYEES  OR  LESS,  SHALL  BE
ALLOWED  A  CREDIT,  TO  BE  COMPUTED  AS  PROVIDED IN THIS SUBDIVISION,
AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR EACH PERSON  AGE  FIFTY-FIVE
OR  OLDER  HIRED  DURING  A  TAXABLE YEAR, PROVIDED THAT SUCH PERSON AGE
FIFTY-FIVE OR OLDER  IS EMPLOYED FOR THIRTY-FIVE 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
FIVE THOUSAND DOLLARS PER HIRED PERSON AGE FIFTY-FIVE OR OLDER BUT SHALL
NOT EXCEED TWENTY-FIVE THOUSAND DOLLARS.
  (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 FIVE SUCCEEDING
TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
  S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
of  the  tax  law  is  amended by adding a new clause (xxxvi) to read as
follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08261-03-3

S. 3738--A                          2

(XXXVI) SMALL BUSINESS TAX CREDIT;   COSTS UNDER SUBDIVISION
PERSONS FIFTY-FIVE YEARS OF AGE OR   FORTY-SEVEN OF SECTION
OLDER SUBSECTION (WW)                TWO HUNDRED TEN
  S  3. Section 606 of the tax law is amended by adding a new subsection
(ww) to read as follows:
  (WW) SMALL BUSINESS TAX CREDIT; PERSONS AGE FIFTY-FIVE OR OLDER.   (A)
GENERAL.  A  TAXPAYER  WHO  HAS  ONE HUNDRED EMPLOYEES OR LESS, SHALL BE
ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBSECTION, AGAINST
THE TAX IMPOSED BY THIS ARTICLE FOR EACH PERSON AGE FIFTY-FIVE OR  OLDER
HIRED DURING A TAXABLE YEAR, PROVIDED THAT SUCH PERSON AGE FIFTY-FIVE OR
OLDER  IS EMPLOYED FOR THIRTY-FIVE 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
FIVE THOUSAND DOLLARS PER HIRED PERSON AGE FIFTY-FIVE OR OLDER BUT SHALL
NOT EXCEED TWENTY-FIVE THOUSAND DOLLARS.
  (C)  CARRYOVERS.  THE CREDIT ALLOWED IN THIS SUBSECTION 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 FIVE SUCCEEDING
TAXABLE YEARS.  THE CREDIT AUTHORIZED BY THIS SUBSECTION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
  S 4. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2014.

S3738B (ACTIVE) - Bill Details

See Assembly Version of this Bill:
A6767
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S4108A

S3738B (ACTIVE) - Bill Texts

view summary

Establishes a small business tax credit for the employment of persons fifty-five years of age and older.

view sponsor memo
BILL NUMBER:S3738B

TITLE OF BILL: An act to amend the tax law, in relation to
establishing a small business tax credit for the employment of persons
fifty-five years of age or older

PURPOSE: To stimulate employment of persons fifty-five or older who
face unprecedented challenges in reentering the workforce or
continuing employment.

SUMMARY OF PROVISIONS:

Section 1: Amendment to section 210, subdivision 48 of the tax law,
for the providence of a business tax credit for the employer in
regards to employment of persons age fifty-five or older for the
duration of twelve months or more, and for thirty-five hours or more
per week. Tax credit range will range between five thousand to
twenty-five thousand dollars.

Section 2: The adoption of a new clause (xxxvii) in section 606 of the
tax law, specifying preceded amendment.

Section 3: Amendment to section 606 of the tax law, detailing the
components of the business tax credit for the employment of persons
fifty-five or older in a company of one hundred employees or less.

JUSTIFICATION: Although the rate of unemployment among older workers
is lower than that for their younger counterparts, as explained by the
Bureau of Labor Statistics, older persons who do become unemployed
spend more time searching for work. A February 2010 study found older
workers were unemployed for an average of thirty-six weeks, compared
to twenty-three weeks for persons aged sixteen through twenty-four,
and thirty weeks for persons aged twenty-five through fifty-four.
Older workers often encounter challenges when trying to remain or
reengage in the work force. Many of these challenges stem from
policies that were created years ago when there was a labor surplus,
before the recent shifts to a knowledge-based economy and trends in
population demographics.

As cost-of-living expenses increase, the financial needs and desires
of older workers is compromised, leaving older workers no other viable
option but to return to the workforce or continue employment. Home
values, often a family's most important asset, have plummeted.
Additionally, an April 2010 Gallup poll found more than a third of
people plan to work beyond age sixty-five, compared to twelve percent
in 1995.

Offering tax credit incentives to small businesses that employ persons
ages fifty-five or older will keep older residents from leaving the
state, whereby further contributing to the economic upheaval of the
state and the sharing of wisdom from an older workforce to a younger
generation.

LEGISLATIVE HISTORY: 2013: S. 3738A - Referred to Investigations and
Government Operations.

FISCAL IMPLICATIONS: To be determined.


EFFECTIVE DATE: Shall take effect immediately and apply to taxable
years beginning on or after January 1, 2015.

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

                                 3738--B

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 13, 2013
                               ___________

Introduced  by  Sen. ADDABBO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment  Operations  --  committee  discharged,  bill  amended,   ordered
  reprinted  as amended and recommitted to said committee -- 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  commit-
  tee

AN  ACT  to amend the tax law, in relation to establishing a small busi-
  ness tax credit for the employment of persons fifty-five years of  age
  or older

  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.  SMALL  BUSINESS TAX CREDIT; PERSONS AGE FIFTY-FIVE OR OLDER.  (A)
GENERAL. A TAXPAYER WHO HAS ONE HUNDRED  EMPLOYEES  OR  LESS,  SHALL  BE
ALLOWED  A  CREDIT,  TO  BE  COMPUTED  AS  PROVIDED IN THIS SUBDIVISION,
AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR EACH PERSON  AGE  FIFTY-FIVE
OR  OLDER  HIRED  DURING  A  TAXABLE YEAR, PROVIDED THAT SUCH PERSON AGE
FIFTY-FIVE OR OLDER  IS EMPLOYED FOR THIRTY-FIVE 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
FIVE THOUSAND DOLLARS PER HIRED PERSON AGE FIFTY-FIVE OR OLDER BUT SHALL
NOT EXCEED TWENTY-FIVE THOUSAND DOLLARS.
  (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 FIVE 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.
                                                           LBD08261-04-4

S. 3738--B                          2

  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) SMALL BUSINESS TAX CREDIT;  COSTS UNDER SUBDIVISION
PERSONS FIFTY-FIVE YEARS OF AGE OR   FORTY-EIGHT OF SECTION
OLDER UNDER SUBSECTION (XX)          TWO HUNDRED TEN
  S  3.    Subsections  (yy)  and (zz) of section 606 of the tax law, as
relettered by section 5 of part H of chapter 1 of the laws of 2003,  are
relettered  subsections  (yyy)  and  (zzz)  and a new subsection (xx) is
added to read as follows:
  (XX) SMALL BUSINESS TAX CREDIT; PERSONS AGE FIFTY-FIVE OR OLDER.   (A)
GENERAL.  A  TAXPAYER  WHO  HAS  ONE HUNDRED EMPLOYEES OR LESS, SHALL BE
ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBSECTION, AGAINST
THE TAX IMPOSED BY THIS ARTICLE FOR EACH PERSON AGE FIFTY-FIVE OR  OLDER
HIRED DURING A TAXABLE YEAR, PROVIDED THAT SUCH PERSON AGE FIFTY-FIVE OR
OLDER  IS EMPLOYED FOR THIRTY-FIVE 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
FIVE THOUSAND DOLLARS PER HIRED PERSON AGE FIFTY-FIVE OR OLDER BUT SHALL
NOT EXCEED TWENTY-FIVE THOUSAND DOLLARS.
  (C)  CARRYOVERS.  THE CREDIT ALLOWED IN THIS SUBSECTION 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 FIVE SUCCEEDING
TAXABLE YEARS.  THE CREDIT AUTHORIZED BY THIS SUBSECTION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
  S 4. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2015.

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