Senate Bill S3513

2017-2018 Legislative Session

Establishes a Hire-Now tax credit

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Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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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Bill Amendments

co-Sponsors

2017-S3513 - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add §43, amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S7664
2013-2014: S1861
2015-2016: S867
2019-2020: S5068
2021-2022: S5140
2023-2024: S4552

2017-S3513 - Summary

Establishes a hire-now tax credit; provides for new job creation; also provides for additional credit where the person hired was receiving unemployment.

2017-S3513 - Sponsor Memo

2017-S3513 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3513
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 23, 2017
                                ___________
 
 Introduced  by  Sens.  RANZENHOFER, DeFRANCISCO, FUNKE, GALLIVAN -- read
   twice and ordered printed, and when printed to  be  committed  to  the
   Committee on Investigations and Government Operations
 
 AN  ACT to amend the tax law, in relation to establishing a hire-now tax
   credit

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The tax law is amended by adding a new section 43 to read
 as follows:
   § 43. HIRE-NOW TAX CREDIT. (A) ALLOWANCE OF CREDIT. A TAXPAYER,  WHICH
 IS SUBJECT TO TAX UNDER ARTICLE NINE-A OR TWENTY-TWO OF THIS CHAPTER AND
 WHICH CREATES A NEW JOB, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX. THE
 AMOUNT  OF  THE  CREDIT ALLOWED UNDER THIS SECTION SHALL BE EQUAL TO THE
 PRODUCT OF 6.85 PERCENT AND THE GROSS WAGES PAID FOR EACH NEW  EMPLOYEE.
 THE  CREDIT  SHALL  NOT  BE  MORE THAN FIVE THOUSAND DOLLARS FOR ANY NEW
 EMPLOYEE FOR ONE FULL YEAR OF EMPLOYMENT; IF A  NEW  EMPLOYEE  HAS  BEEN
 HIRED  FOR  LESS  THAN A FULL TAX YEAR THIS AMOUNT SHALL BE PRORATED AND
 APPORTIONED TO EACH TAX YEAR BUT SHALL IN NO WAY DECREASE THE FULL THREE
 CONSECUTIVE YEARS OF CREDIT ELIGIBILITY. THE  TAXPAYER  MAY  CLAIM  THIS
 CREDIT  FOR EACH NEW EMPLOYEE FOR A PERIOD OF THREE CONSECUTIVE YEARS OF
 EMPLOYMENT.  THE TAXPAYER MAY OFFSET  QUARTERLY  ESTIMATED  TAX  RETURNS
 WITH THE AMOUNT OF THIS CREDIT EARNED IN ANY PREVIOUS QUARTER.
   (B) UNEMPLOYMENT ENHANCEMENT. FOR CALENDAR YEARS TWO THOUSAND NINETEEN
 AND  TWO  THOUSAND  TWENTY  IF A NEW EMPLOYEE WAS RECEIVING UNEMPLOYMENT
 INSURANCE BENEFITS AT THE TIME OF HIRE,  AN  ADDITIONAL  THREE  THOUSAND
 DOLLAR CREDIT WILL BE ALLOWED FOR THE FIRST FULL YEAR OF EMPLOYMENT.
   (C)  DEFINITIONS.  AS  USED IN THIS SECTION, THE FOLLOWING TERMS SHALL
 HAVE THE FOLLOWING MEANINGS:
   (1) "NEW EMPLOYEE" SHALL MEAN ANY FULL TIME EMPLOYEE THAT IS HIRED  BY
 THE  TAXPAYER  AFTER  JULY FIRST, TWO THOUSAND EIGHTEEN AND BEFORE APRIL
 FIRST, TWO THOUSAND NINETEEN, THAT CAUSES THE TOTAL NUMBER OF  EMPLOYEES
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

co-Sponsors

2017-S3513A (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add §43, amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S7664
2013-2014: S1861
2015-2016: S867
2019-2020: S5068
2021-2022: S5140
2023-2024: S4552

2017-S3513A (ACTIVE) - Summary

Establishes a hire-now tax credit; provides for new job creation; also provides for additional credit where the person hired was receiving unemployment.

2017-S3513A (ACTIVE) - Sponsor Memo

2017-S3513A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3513--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 23, 2017
                                ___________
 
 Introduced  by  Sens.  RANZENHOFER, DeFRANCISCO, FUNKE, GALLIVAN -- read
   twice and ordered printed, and when printed to  be  committed  to  the
   Committee  on  Investigations and Government Operations -- recommitted
   to the  Committee  on  Investigations  and  Government  Operations  in
   accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee
 
 AN  ACT to amend the tax law, in relation to establishing a Hire-Now tax
   credit
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The tax law is amended by adding a new section 44 to read
 as follows:
   § 44. HIRE-NOW TAX CREDIT. (A) ALLOWANCE OF CREDIT. A TAXPAYER,  WHICH
 IS SUBJECT TO TAX UNDER ARTICLE NINE-A OR TWENTY-TWO OF THIS CHAPTER AND
 WHICH CREATES A NEW JOB, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX. THE
 AMOUNT  OF  THE  CREDIT ALLOWED UNDER THIS SECTION SHALL BE EQUAL TO THE
 PRODUCT OF 6.85 PERCENT AND THE GROSS WAGES PAID FOR EACH NEW  EMPLOYEE.
 THE  CREDIT  SHALL  NOT  BE  MORE THAN FIVE THOUSAND DOLLARS FOR ANY NEW
 EMPLOYEE FOR ONE FULL YEAR OF EMPLOYMENT; IF A  NEW  EMPLOYEE  HAS  BEEN
 HIRED  FOR  LESS  THAN A FULL TAX YEAR THIS AMOUNT SHALL BE PRORATED AND
 APPORTIONED TO EACH TAX YEAR BUT SHALL IN NO WAY DECREASE THE FULL THREE
 CONSECUTIVE YEARS OF CREDIT ELIGIBILITY. THE  TAXPAYER  MAY  CLAIM  THIS
 CREDIT  FOR EACH NEW EMPLOYEE FOR A PERIOD OF THREE CONSECUTIVE YEARS OF
 EMPLOYMENT.  THE TAXPAYER MAY OFFSET  QUARTERLY  ESTIMATED  TAX  RETURNS
 WITH THE AMOUNT OF THIS CREDIT EARNED IN ANY PREVIOUS QUARTER.
   (B)  UNEMPLOYMENT  ENHANCEMENT. FOR CALENDAR YEARS TWO THOUSAND TWENTY
 AND TWO THOUSAND TWENTY-ONE IF A NEW EMPLOYEE WAS RECEIVING UNEMPLOYMENT
 INSURANCE BENEFITS AT THE TIME OF HIRE,  AN  ADDITIONAL  THREE  THOUSAND
 DOLLAR CREDIT WILL BE ALLOWED FOR THE FIRST FULL YEAR OF EMPLOYMENT.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07951-02-8
              

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