NY State Senate Bill 2017-S3252

Archive: Last Bill Status - In Senate Committee Veterans, Homeland Security And Military Affairs Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2018	referred to veterans, homeland security and military affairs
Jan 20, 2017	referred to veterans, homeland security and military affairs

co-Sponsors

2017-S3252 (ACTIVE) - Details

Current Committee:: Senate Veterans, Homeland Security And Military Affairs
Law Section:: Tax Law
Laws Affected:: Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:: 2015-2016: S4548
2019-2020: S4708
2021-2022: S5282

2017-S3252 (ACTIVE) - Summary

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

2017-S3252 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S3252

 TITLE OF BILL :

An act to amend the tax law, in relation to establishing a small
business tax credit for the employment of unemployed veterans

 PURPOSE :

Offer incentives to small businesses to hire and retain employment of
unemployed veterans.

 SUMMARY OF PROVISIONS :

Section 1: Subdivision 49 is amended to section 210 of the Tax law, to
establish a five thousand dollar to twenty-five thousand dollar tax
credit for the hiring and retaining of unemployed veterans for a
minimum thirty-five hours per week, minimum one year employment
period.

Section 2: Clause (xli) is added to section 606 of the Tax law, to
identify legislative intent of the bill found within subdivision 45 of
section 210 of the Tax law.

Section 3: Subsection (ccc) is amended to section 606 of the Tax law,
to establish a five thousand dollar to twenty-five thousand dollar tax

credit for the hiring and retaining of unemployed veterans for a
minimum thirty-five hours per week, minimum one year employment
period,

 JUSTIFICATION :

Returning veterans often experience greater challenges in searching
and obtaining quality employment. Traits learned in serving our
country are more often times than not applicable to offered positions
of employment. Factor in the general myth human resources departments
exponentially forgo interviewing candidates unemployable for six
months or more. The odds are unfortunately staked against these
veterans seeking quality employment.

In March 2011, the Department of Labor determined in a report that the
national unemployment rate among eighteen to twenty-four year-old
veterans is 21%, which is 4 1/2% higher than, unemployment of
non-veterans in the same age range. Additionally, over 15% of veterans
who have served post September 11, 2001 are unemployed, equating to a
2 1/2% increase from 2010.

As it is our moral obligation to thank our veterans for their service
to our great country, it is our intent to stimulate employment of
their services through the legislative authorization of a small
business tax credit for businesses that hire veterans for a minimum
thirty-five hours

 LEGISLATIVE HISTORY :

2015-16: S.4548A/A.391 - Amend and Recommit to Investigations and
Gov't Operations
2013-14: A.1800 - Referred to Ways and Means

 FISCAL IMPLICATIONS :

To be determined

 EFFECTIVE DATE :
This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2017.

2017-S3252 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3252
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 20, 2017
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Veterans, Homeland Securi-
   ty and Military Affairs
 
 AN ACT to amend the tax law, in relation to establishing a  small  busi-
   ness tax credit for the employment of unemployed veterans

   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.  SMALL  BUSINESS  TAX CREDIT; UNEMPLOYED VETERANS.  (A) GENERAL. A
 TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
 IT, TO BE COMPUTED AS PROVIDED IN  THIS  SUBDIVISION,  AGAINST  THE  TAX
 IMPOSED BY THIS ARTICLE FOR EACH UNEMPLOYED VETERAN HIRED DURING A TAXA-
 BLE  YEAR, PROVIDED THAT SUCH UNEMPLOYED 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
 FIVE THOUSAND DOLLARS PER HIRED UNEMPLOYED VETERAN 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 "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 EXPEDITION-
 ARY MEDAL, OR GLOBAL WAR ON TERRORISM EXPEDITIONARY MEDAL, AND  WHO  WAS
 DISCHARGED OR RELEASED THEREFROM UNDER HONORABLE CONDITIONS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01643-01-7

 S. 3252                             2
 
   §  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding a new  clause  (xliii)  to  read  as
 follows:
 (XLIII) SMALL BUSINESS TAX CREDIT;   COSTS UNDER SUBDIVISION
 UNEMPLOYED VETERAN                   FORTY-NINE OF SECTION
 UNDER SUBSECTION (CCC)               TWO HUNDRED TEN-B
   § 3.  Section 606 of the tax law is amended by adding a new subsection
 (ccc) to read as follows:
   (CCC)  SMALL  BUSINESS TAX CREDIT; UNEMPLOYED VETERANS. (1) GENERAL. A
 TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
 IT, TO BE COMPUTED AS PROVIDED  IN  THIS  SUBSECTION,  AGAINST  THE  TAX
 IMPOSED BY THIS ARTICLE FOR EACH UNEMPLOYED VETERAN HIRED DURING A TAXA-
 BLE  YEAR, PROVIDED THAT SUCH UNEMPLOYED 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
 FIVE THOUSAND DOLLARS PER HIRED UNEMPLOYED VETERAN BUT SHALL NOT  EXCEED
 TWENTY-FIVE 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 TERM "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 EXPEDITION-
 ARY MEDAL, OR GLOBAL WAR ON TERRORISM EXPEDITIONARY MEDAL, AND  WHO  WAS
 DISCHARGED OR RELEASED THEREFROM UNDER HONORABLE CONDITIONS.
   § 4. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2017.

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Senate Bill S3252

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Archive: Last Bill Status - In Senate Committee Veterans, Homeland Security And Military Affairs Committee

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co-Sponsors

2017-S3252 (ACTIVE) - Details

2017-S3252 (ACTIVE) - Summary

2017-S3252 (ACTIVE) - Sponsor Memo

2017-S3252 (ACTIVE) - Bill Text download pdf

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Sponsored By

Kevin S. Parker

Archive: Last Bill Status - In Senate Committee Veterans, Homeland Security And Military Affairs Committee

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co-Sponsors

Joseph P. Addabbo Jr.

Jamaal T. Bailey

Leroy Comrie

2017-S3252 (ACTIVE) - Details

2017-S3252 (ACTIVE) - Summary

2017-S3252 (ACTIVE) - Sponsor Memo

2017-S3252 (ACTIVE) - Bill Text download pdf

Comments