senate Bill S528

2013-2014 Legislative Session

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

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 (2)
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 - Bill 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 - Bill Texts

view 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.

view sponsor memo
BILL NUMBER:S528

TITLE OF BILL:
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

PURPOSE OF THE BILL:
Provides for a corporate franchise tax credit for employee training
expenses in an eligible business facility.

SUMMARY OF SPECIFIC PROVISIONS:
§ 1- Amends subdivision 12 of § 210 of the tax law by adding a new
paragraph (n) which allows for a tax credit in the amount equal to 5%
of the expenditures paid or incurred by a taxpayer for training or
retraining of employees, pursuant to Department of Labor review.

§ 2- Effective date.

JUSTIFICATION:
More so than ever, reports and newspaper articles are documenting the
shortages in today's job market of skilled employees. A combination
of high automation levels in the workplace and low employee language
skills have resulted in a major schism between job demand and supply.
Some corporations are claiming that fewer than 30% of employment
candidates met entry level skill and ability requirements. This
legislation offers encouragement to employers to invest in the
training of their employees. Patterned after the Investment Tax
Credit, this legislation allows the same tax credit (5%) for the
development of people as for the development of capital improvements.

PRIOR LEGISLATIVE HISTORY:
2011-2012: S.5351/A.3417
2009-2010: A.2897/S.4106
2007-2008: A.2956/S.1913
2005-2006: A.3191/S.5022
2003-2004: A.3401
2001-2002: A.946/S.756
1999-2000: A.353/S.4473
1997-1998: A.971-A/S.6372
1995-1996: A.1055/S.5258
1993-1994: A.5857

FISCAL IMPLICATIONS:
Undetermined.

EFFECTIVE DATE:
This act shall take effect immediately.

view full 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

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.