senate Bill S528

2013-2014 Legislative Session

Provides for a corporate franchise tax credit for employee training expenses in an eligible business facility

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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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to investigations and government operations
Jan 09, 2013 referred to investigations and government operations

Co-Sponsors

S528 - Details

See Assembly Version of this Bill:
A2642
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §210, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S5351, A3417
2009-2010: S4106, A2897

S528 - Summary

Establishes a five percent investment tax credit against the franchise tax imposed upon corporations for a portion of training or retraining expenses incurred by them in an eligible business facility, pursuant to rules and regulations of the department of taxation and finance promulgated in consultation with the department of labor.

S528 - Sponsor Memo

S528 - Bill Text download pdf

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

                                   528

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sen. KENNEDY -- 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 providing for a  tax  credit
  for  certain  training  or  retraining expenses incurred by a taxpayer
  subject to the provisions of article 9-A of such law

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. Subdivision 12 of section 210 of the tax law is amended by
adding a new paragraph (n) to read as follows:
  (N) IN ADDITION TO THE CREDIT ALLOWED BY PARAGRAPH (A) OF THIS  SUBDI-
VISION,  FOR  TAXABLE  YEARS  BEGINNING AFTER DECEMBER THIRTY-FIRST, TWO
THOUSAND THIRTEEN THERE SHALL BE ALLOWED A CREDIT IN AN AMOUNT EQUAL  TO
FIVE  PERCENT  OF  THE  EXPENDITURES  PAID OR INCURRED BY A TAXPAYER FOR
TRAINING OR RETRAINING OF EMPLOYEES IF SUCH  TRAINING  WAS  GIVEN  BY  A
TAXPAYER  IN AN ELIGIBLE BUSINESS FACILITY. THE COMMISSIONER, IN CONSUL-
TATION WITH THE DEPARTMENT OF LABOR, SHALL PROMULGATE  RULES  AND  REGU-
LATIONS TO DETERMINE AND IDENTIFY ELIGIBLE TRAINING PROGRAMS PURSUANT TO
THIS PARAGRAPH.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02430-01-3

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