senate Bill S3739A

2013-2014 Legislative Session

Establishes a small business tax credit for the employment of unemployed college graduates

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Committee


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

do you support this bill?

Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 31, 2014 print number 3739a
amend and recommit to investigations and government operations
Jan 08, 2014 referred to investigations and government operations
Feb 13, 2013 referred to investigations and government operations

Bill Amendments

Original
A (Active)
Original
A (Active)

S3739 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S4335A

S3739 - Summary

Establishes a small business tax credit for the employment of unemployed college graduates.

S3739 - Sponsor Memo

S3739 - Bill Text download pdf

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

                                  3739

                       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 unemployed college graduates

  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; UNEMPLOYED COLLEGE GRADUATES.   (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  UNEMPLOYED  COLLEGE
GRADUATE  HIRED  DURING  A  TAXABLE  YEAR, PROVIDED THAT SUCH UNEMPLOYED
COLLEGE GRADUATE 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 UNEMPLOYED COLLEGE  GRADUATE  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.
  (D) DEFINITIONS. AS USED IN THIS SUBDIVISION, THE TERM "COLLEGE" SHALL
MEAN  A  PUBLIC  OR INDEPENDENT COLLEGE; THE TERM "PUBLIC COLLEGE" SHALL
MEAN EACH COMPONENT OF THE STATE UNIVERSITY, AS DEFINED  IN  SUBDIVISION
THREE  OF  SECTION  THREE  HUNDRED FIFTY-TWO OF THE EDUCATION LAW AND IN
SUBDIVISION TWO OF SECTION SIXTY-THREE HUNDRED ONE OF THE EDUCATION  LAW
AND  EACH COMMUNITY COLLEGE AND SENIOR COLLEGE OF THE CITY UNIVERSITY OF
NEW YORK, AS DEFINED IN SUBDIVISIONS FOUR AND FIVE OF SECTION  SIXTY-TWO

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08266-01-3

S3739A (ACTIVE) - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S4335A

S3739A (ACTIVE) - Summary

Establishes a small business tax credit for the employment of unemployed college graduates.

S3739A (ACTIVE) - Sponsor Memo

S3739A (ACTIVE) - Bill Text download pdf

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

                                 3739--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 -- 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 committee

AN  ACT  to amend the tax law, in relation to establishing a small busi-
  ness tax credit for the employment of unemployed college graduates

  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;  UNEMPLOYED  COLLEGE  GRADUATES.    (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 UNEMPLOYED COLLEGE
GRADUATE HIRED DURING A TAXABLE  YEAR,  PROVIDED  THAT  SUCH  UNEMPLOYED
COLLEGE  GRADUATE 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 UNEMPLOYED COLLEGE GRADUATE 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.
  (D) DEFINITIONS. AS USED IN THIS SUBDIVISION, THE TERM "COLLEGE" SHALL
MEAN A PUBLIC OR INDEPENDENT COLLEGE; THE TERM  "PUBLIC  COLLEGE"  SHALL
MEAN  EACH  COMPONENT OF THE STATE UNIVERSITY, AS DEFINED IN SUBDIVISION
THREE OF SECTION THREE HUNDRED FIFTY-TWO OF THE  EDUCATION  LAW  AND  IN

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08266-02-4

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.