S T A T E O F N E W Y O R K
________________________________________________________________________
4119
2015-2016 Regular Sessions
I N A S S E M B L Y
January 29, 2015
___________
Introduced by M. of A. SCARBOROUGH, BRONSON, PERRY -- read once and
referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to establishing a returning
heroes tax credit for businesses that hire veterans returning from war
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 210-B of the tax law is amended by adding a new
subdivision 49 to read as follows:
49. RETURNING HEROES 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 WOUNDED
VETERAN HIRED DURING A TAXABLE YEAR, PROVIDED THAT SUCH VETERAN OR
WOUNDED VETERAN 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
TWO THOUSAND FOUR HUNDRED DOLLARS PER HIRED SHORT-TERM UNEMPLOYED VETER-
AN, FOUR THOUSAND EIGHT HUNDRED DOLLARS PER HIRED LONG-TERM UNEMPLOYED
VETERAN, FOUR THOUSAND EIGHT HUNDRED DOLLARS PER HIRED SHORT-TERM UNEM-
PLOYED WOUNDED VETERAN AND NINE THOUSAND SIX HUNDRED DOLLARS PER HIRED
LONG-TERM UNEMPLOYED VETERAN BUT SHALL NOT EXCEED FIFTEEN 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 FOLLOWING TERMS
SHALL HAVE THE FOLLOWING MEANINGS:
(I) "LONG-TERM UNEMPLOYED" SHALL MEAN A VETERAN, AS DEFINED PURSUANT
TO SUBPARAGRAPH (III) OF THIS PARAGRAPH, THAT HAS BEEN UNEMPLOYED FOR
LONGER THAN SIX MONTHS.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08043-01-5
A. 4119 2
(II) "SHORT-TERM UNEMPLOYED" SHALL MEAN A VETERAN, AS DEFINED PURSUANT
TO SUBPARAGRAPH (III) OF THIS PARAGRAPH, THAT HAS BEEN UNEMPLOYED FOR
LONGER THAN FOUR WEEKS, BUT NO LONGER THAN SIX MONTHS.
(III) "VETERAN" SHALL MEAN A PERSON WHO SERVED IN THE ACTIVE MILITARY,
NAVAL, OR AIR SERVICE DURING A PERIOD OF WAR, OR WHO WAS A RECIPIENT OF
THE ARMED FORCES EXPEDITIONARY MEDAL, NAVY EXPEDITIONARY MEDAL, MARINE
CORPS EXPEDITIONARY MEDAL, OR GLOBAL WAR ON TERRORISM EXPEDITIONARY
MEDAL, AND WHO WAS DISCHARGED OR RELEASED THEREFROM UNDER HONORABLE
CONDITIONS.
(IV) "WOUNDED VETERAN" SHALL MEAN A VETERAN, AS DEFINED PURSUANT TO
SUBPARAGRAPH (III) OF THIS PARAGRAPH, WHO SUSTAINED A SERVICE CONNECTED
DISABILITY AS CERTIFIED BY THE FEDERAL VETERAN'S ADMINISTRATION OR THE
UNITED STATES DEPARTMENT OF DEFENSE, WHERE SUCH DISABILITY WAS INCURRED
IN THE LINE OF DUTY IN ACTIVE MILITARY, NAVAL OR AIR SERVICE.
S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a new clause (xli) to read as
follows:
(XLI) RETURNING VETERAN TAX COSTS UNDER SUBDIVISION
CREDIT UNDER SUBSECTION (CCC) FORTY-NINE OF SECTION
TWO HUNDRED TEN-B
S 3. Section 606 of the tax law is amended by adding a new subsection
(ccc) to read as follows:
(CCC) RETURNING HEROES TAX CREDIT. (1) GENERAL. A TAXPAYER SHALL BE
ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBSECTION, AGAINST
THE TAX IMPOSED BY THIS ARTICLE FOR EACH VETERAN OR WOUNDED VETERAN
HIRED DURING A TAXABLE YEAR, PROVIDED THAT SUCH VETERAN OR WOUNDED
VETERAN IS EMPLOYED FOR THIRTY-FIVE HOURS OR MORE PER WEEK AND REMAINS
IN THE EMPLOY OF SUCH TAXPAYER FOR TWELVE MONTHS OR MORE.
(2) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL EQUAL
TWO THOUSAND FOUR HUNDRED DOLLARS PER HIRED SHORT-TERM UNEMPLOYED VETER-
AN, FOUR THOUSAND EIGHT HUNDRED DOLLARS PER HIRED LONG-TERM UNEMPLOYED
VETERAN, FOUR THOUSAND EIGHT HUNDRED DOLLARS PER HIRED SHORT-TERM UNEM-
PLOYED WOUNDED VETERAN AND NINE THOUSAND SIX HUNDRED DOLLARS PER HIRED
LONG-TERM UNEMPLOYED VETERAN BUT SHALL NOT EXCEED FIFTEEN THOUSAND
DOLLARS.
(3) CARRYOVERS. THE CREDIT ALLOWED UNDER 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.
(4) DEFINITIONS. AS USED IN THIS SUBSECTION, THE FOLLOWING TERMS SHALL
HAVE THE FOLLOWING MEANINGS:
(A) "LONG-TERM UNEMPLOYED" SHALL MEAN A VETERAN, AS DEFINED PURSUANT
TO SUBPARAGRAPH (C) OF THIS PARAGRAPH, THAT HAS BEEN UNEMPLOYED FOR
LONGER THAN SIX MONTHS.
(B) "SHORT-TERM UNEMPLOYED" SHALL MEAN A VETERAN, AS DEFINED PURSUANT
TO SUBPARAGRAPH (C) OF THIS PARAGRAPH, THAT HAS BEEN UNEMPLOYED FOR
LONGER THAN FOUR WEEKS, BUT NO LONGER THAN SIX MONTHS.
(C) "VETERAN" SHALL MEAN A PERSON WHO SERVED IN THE ACTIVE MILITARY,
NAVAL, OR AIR SERVICE DURING A PERIOD OF WAR, OR WHO WAS A RECIPIENT OF
THE ARMED FORCES EXPEDITIONARY MEDAL, NAVY EXPEDITIONARY MEDAL, MARINE
CORPS EXPEDITIONARY MEDAL, OR GLOBAL WAR ON TERRORISM EXPEDITIONARY
MEDAL, AND WHO WAS DISCHARGED OR RELEASED THEREFROM UNDER HONORABLE
CONDITIONS.
(D) "WOUNDED VETERAN" SHALL MEAN A VETERAN, AS DEFINED PURSUANT TO
SUBPARAGRAPH (C) OF THIS PARAGRAPH, WHO SUSTAINED A SERVICE CONNECTED
A. 4119 3
DISABILITY AS CERTIFIED BY THE FEDERAL VETERAN'S ADMINISTRATION OR THE
UNITED STATES DEPARTMENT OF DEFENSE, WHERE SUCH DISABILITY WAS INCURRED
IN THE LINE OF DUTY IN THE ACTIVE MILITARY, NAVAL OR AIR SERVICE.
S 4. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2016.