S T A T E O F N E W Y O R K
________________________________________________________________________
8674
2017-2018 Regular Sessions
I N A S S E M B L Y
September 25, 2017
___________
Introduced by M. of A. MOSLEY -- read once and referred to the Committee
on Ways and Means
AN ACT to amend the tax law, in relation to offering a tax credit to
employers who pay for their employees to acquire an associate of
applied science in computer security from a SUNY or CUNY school
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 53 to read as follows:
53. EMPLOYEE CYBER SECURITY EDUCATION CREDIT. (A) FOR PURPOSES OF THIS
SUBDIVISION:
(I) "EMPLOYEE" SHALL MEAN A PERSON WHO IS A RESIDENT OF NEW YORK STATE
WHO IS EMPLOYED BY THE TAXPAYER;
(II) "EDUCATION COSTS" SHALL MEAN TUITION, FEES, AND THE COST OF
REQUIRED BOOKS AND MATERIALS;
(III) "QUALIFYING DEGREE" SHALL MEAN AN ASSOCIATE OF APPLIED SCIENCE
DEGREE WITH A MAJOR IN CYBER SECURITY; AND
(IV) "QUALIFYING SCHOOL" SHALL MEAN ANY STATE UNIVERSITY OF NEW YORK
OR CITY UNIVERSITY OF NEW YORK SCHOOL WHO OFFERS A QUALIFYING DEGREE AS
DEFINED IN SUBPARAGRAPH (III) OF THIS PARAGRAPH.
(B) ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE
COMPUTED AS PROVIDED IN PARAGRAPH (C) OF THIS SUBDIVISION, AGAINST THE
TAX IMPOSED BY THIS ARTICLE, IF IT PROVIDES FOR PAYMENT, ON BEHALF OF AN
EMPLOYEE, OF ALL EDUCATION COSTS RELATING TO RECEIVING A QUALIFYING
DEGREE FROM A QUALIFYING SCHOOL.
(C) AMOUNT OF CREDIT. THE CREDIT ALLOWED PURSUANT TO PARAGRAPH (B) OF
THIS SUBDIVISION SHALL BE IN AN AMOUNT EQUAL TO THE TAXPAYER'S PAYMENT,
ON BEHALF OF AN EMPLOYEE, OF EDUCATION COSTS RELATING TO RECEIVING A
QUALIFYING DEGREE FROM A QUALIFYING SCHOOL. PROVIDED, HOWEVER, THAT NO
SUCH CREDIT ALLOWED UNDER THIS SUBDIVISION SHALL EXCEED FIVE THOUSAND
DOLLARS FOR EACH SUCH EMPLOYEE EMPLOYED BY SUCH TAXPAYER.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD13386-01-7
A. 8674 2
(D) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS
THAN THE AMOUNT PRESCRIBED IN PARAGRAPH (D) OF SUBDIVISION ONE OF
SECTION TWO HUNDRED TEN OF THIS ARTICLE. IF, HOWEVER, THE AMOUNT OF
CREDITS ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE
TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT THUS NOT DEDUCTIBLE IN SUCH
TAXABLE YEAR SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR
REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION ONE THOUSAND
EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER, THE PROVISIONS OF
SUBSECTION (C) OF SECTION ONE THOUSAND EIGHTY-EIGHT OF THIS CHAPTER
NOTWITHSTANDING, NO INTEREST SHALL BE PAID THEREON.
§ 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a new clause (xliv) to read as
follows:
(XLIV) EMPLOYEE CYBER SECURITY AMOUNT OF CREDIT
EDUCATION CREDIT UNDER SUBDIVISION
UNDER SUBSECTION (III) FIFTY-THREE OF SECTION
TWO HUNDRED TEN-B
§ 3. Section 606 of the tax law is amended by adding a new subsection
(iii) to read as follows:
(III) EMPLOYEE CYBER SECURITY EDUCATION CREDIT. (1) FOR PURPOSES OF
THIS SUBSECTION:
(A) "EMPLOYEE" SHALL MEAN A PERSON WHO IS A RESIDENT OF NEW YORK STATE
WHO IS EMPLOYED BY THE TAXPAYER;
(B) "EDUCATION COSTS" SHALL MEAN TUITION, FEES, AND THE COST OF
REQUIRED BOOKS AND MATERIALS;
(C) "QUALIFYING DEGREE" SHALL MEAN AN ASSOCIATE OF APPLIED SCIENCE
DEGREE WITH A MAJOR IN CYBER SECURITY; AND
(D) "QUALIFYING SCHOOL" SHALL MEAN ANY STATE UNIVERSITY OF NEW YORK OR
CITY UNIVERSITY OF NEW YORK SCHOOL WHO OFFERS A QUALIFYING DEGREE AS
DEFINED IN SUBPARAGRAPH (C) OF THIS PARAGRAPH.
(2) ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE
COMPUTED AS PROVIDED IN PARAGRAPH THREE OF THIS SUBSECTION, AGAINST THE
TAX IMPOSED BY THIS ARTICLE, IF IT PROVIDES FOR PAYMENT, ON BEHALF OF AN
EMPLOYEE, OF ALL EDUCATION COSTS RELATING TO RECEIVING A QUALIFYING
DEGREE FROM A QUALIFYING SCHOOL.
(3) AMOUNT OF CREDIT. THE CREDIT ALLOWED PURSUANT TO PARAGRAPH TWO OF
THIS SUBSECTION SHALL BE IN AN AMOUNT EQUAL TO THE TAXPAYER'S PAYMENT,
ON BEHALF OF AN EMPLOYEE, OF EDUCATION COSTS RELATING TO RECEIVING A
QUALIFYING DEGREE FROM A QUALIFYING SCHOOL. PROVIDED, HOWEVER, THAT NO
SUCH CREDIT ALLOWED UNDER THIS SUBSECTION SHALL EXCEED FIVE THOUSAND
DOLLARS FOR EACH SUCH EMPLOYEE EMPLOYED BY SUCH TAXPAYER.
(4) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWED UNDER
THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR
SUCH YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE
CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION SIX
HUNDRED EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST
SHALL BE PAID THEREON.
§ 4. This act shall take effect immediately and shall apply to taxable
years beginning on and after the first of January next succeeding the
date on which it shall have become a law.