S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4090
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             February 3, 2017
                                ___________
 
 Introduced  by  Sen.  AKSHAR -- 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 establishing a job  creation
   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.  JOB  CREATION TAX CREDIT. (A) ALLOWANCE OF CREDIT. A TAXPAYER,
 WHICH IS SUBJECT TO TAX UNDER ARTICLE NINE-A OR TWENTY-TWO OF THIS CHAP-
 TER AND WHICH CREATES A NEW FULL TIME POSITION, SHALL BE ALLOWED A CRED-
 IT AGAINST SUCH TAX. THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SECTION
 SHALL BE SEVEN HUNDRED FIFTY DOLLARS FOR EACH  NEW  FULL  TIME  POSITION
 FILLED FOR AT LEAST SIX MONTHS DURING THE TAX YEAR. THE CREDIT SHALL NOT
 BE FOR MORE THAN THIRTY NEW FULL TIME POSITIONS PER TAX YEAR.
   (B)  AGRICULTURAL  COMMODITIES ENHANCEMENT. IF THE NEW FULL TIME POSI-
 TION IS CREATED IN A BUSINESS WHICH ADDS VALUE TO  AGRICULTURAL  COMMOD-
 ITIES  THROUGH  MANUFACTURING OR PROCESSING, AN ADDITIONAL SEVEN HUNDRED
 FIFTY DOLLAR CREDIT PER NEW FULL TIME POSITION WILL BE ALLOWED.
   (C) MANUFACTURING ENHANCEMENT.  IF  THE  NEW  FULL  TIME  POSITION  IS
 CREATED  IN  A MANUFACTURING BUSINESS, AN ADDITIONAL SEVEN HUNDRED FIFTY
 DOLLAR CREDIT PER NEW FULL TIME POSITION  WILL  BE  ALLOWED.    FOR  THE
 PURPOSES  OF  THIS  SUBDIVISION,  "MANUFACTURING  BUSINESS" SHALL MEAN A
 BUSINESS PRINCIPALLY ENGAGED IN THE PRODUCTION OF GOODS  BY  MANUFACTUR-
 ING,  PROCESSING,  ASSEMBLING,  REFINING,  MINING,  EXTRACTING, FARMING,
 AGRICULTURE, HORTICULTURE, FLORICULTURE, VITICULTURE OR COMMERCIAL FISH-
 ING.
   (D) UNEMPLOYMENT ENHANCEMENT. IF A NEW EMPLOYEE  WAS  RECEIVING  UNEM-
 PLOYMENT  INSURANCE  BENEFITS  AT  THE  TIME OF HIRE, THE CREDIT ALLOWED
 UNDER THIS SECTION SHALL BE INCREASED TO ONE THOUSAND DOLLARS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD06532-03-7

 S. 4090                             2
 
   (E) DEFINITIONS. AS USED IN THIS SECTION, THE  FOLLOWING  TERMS  SHALL
 HAVE THE FOLLOWING MEANINGS:
   (1)  "NEW  EMPLOYEE" SHALL MEAN ANY FULL TIME EMPLOYEE THAT CAUSES THE
 TOTAL NUMBER OF EMPLOYEES TO INCREASE ABOVE BASE  EMPLOYMENT  OR  CREDIT
 EMPLOYMENT, WHICHEVER IS HIGHER.
   (2) "BASE YEAR" SHALL MEAN CALENDAR YEAR TWO THOUSAND SEVENTEEN.
   (3)  "BASE  EMPLOYMENT"  SHALL  MEAN  THE  AVERAGE NUMBER OF FULL TIME
 EMPLOYEES OR FULL TIME EQUIVALENT EMPLOYEES DURING THE BASE YEAR. FOR  A
 NEW BUSINESS, BASE EMPLOYMENT SHALL BEGIN AT ZERO.
   (4)  "CREDIT EMPLOYMENT" SHALL MEAN BASE EMPLOYMENT PLUS THE NUMBER OF
 NEW EMPLOYEES FOR WHICH A CREDIT IS EARNED FOR THE PRIOR TAX YEARS.
   § 2. Section 210-B of the tax law is amended by adding a new  subdivi-
 sion 49 to read as follows:
   49.  JOB CREATION TAX CREDIT. (A) ALLOWANCE OF CREDIT. A TAXPAYER WILL
 BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN  SECTION  FORTY-THREE
 OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (B)  APPLICATION  OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
 FOR ANY TAXABLE YEAR MAY NOT REDUCE THE TAX DUE FOR SUCH  YEAR  TO  LESS
 THAN  THE  HIGHER OF THE AMOUNTS PRESCRIBED IN PARAGRAPH (D) OF SUBDIVI-
 SION ONE OF SECTION TWO HUNDRED TEN OF THIS  ARTICLE.  HOWEVER,  IF  THE
 AMOUNT  OF  CREDIT  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 WILL 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 WILL BE PAID THEREON.
   § 3. Section 606 of the tax law is amended by adding a new  subsection
 (ccc) to read as follows:
   (CCC)  JOB CREATION TAX CREDIT. (1) A TAXPAYER WILL BE ALLOWED A CRED-
 IT, TO THE EXTENT ALLOWED UNDER SECTION  FORTY-THREE  OF  THIS  CHAPTER,
 AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (2)  IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
 TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR SUCH YEAR, THE  EXCESS  WILL
 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 WILL BE PAID THEREON.
   § 4. 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) JOB CREATION TAX CREDIT         AMOUNT OF CREDIT UNDER
 UNDER SUBSECTION (CCC)                  SUBDIVISION FORTY-NINE OF SECTION
                                         TWO HUNDRED TEN-B OF THIS CHAPTER
   § 5. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2017.

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4090--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             February 3, 2017
                                ___________
 
 Introduced  by  Sens.  AKSHAR,  BONACIC,  CROCI,  DeFRANCISCO, GALLIVAN,
   HANNON, HELMING, ROBACH, SEWARD -- read twice and ordered printed, and
   when printed to be committed to the Committee  on  Investigations  and
   Government  Operations  -- committee discharged, bill amended, ordered
   reprinted as amended and recommitted to said committee

 AN ACT to amend the tax law, in relation to establishing a job  creation
   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.  JOB CREATION TAX CREDIT. (A) ALLOWANCE OF CREDIT.  FOR TAXABLE
 YEARS BEGINNING ON OR AFTER JANUARY  FIRST,  TWO  THOUSAND  EIGHTEEN,  A
 TAXPAYER SUBJECT TO TAX UNDER ARTICLE NINE-A OR TWENTY-TWO OF THIS CHAP-
 TER  SHALL  BE  ALLOWED  A  CREDIT,  TO  BE COMPUTED AS PROVIDED IN THIS
 SECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR EACH NET  NEW  JOB
 CREATED,  FOR EACH QUALIFIED EMPLOYEE WITHIN THE STATE. THE TAXPAYER MAY
 CLAIM THE CREDIT IN THE YEAR IN WHICH THE QUALIFIED  EMPLOYEE  COMPLETES
 SIX  MONTHS OF EMPLOYMENT. A TAXPAYER MAY ONLY CLAIM THE CREDIT ONCE FOR
 EACH QUALIFIED EMPLOYEE AND MAY ONLY CLAIM A TAX CREDIT FOR A MAXIMUM OF
 THIRTY QUALIFIED EMPLOYEES IN EACH TAXABLE YEAR. IF THE TAXPAYER  CLAIMS
 THE  CREDIT  ALLOWED  UNDER  THIS  SECTION, THE TAXPAYER MAY NOT USE THE
 HIRING OF A QUALIFIED EMPLOYEE THAT IS THE BASIS FOR THIS CREDIT IN  THE
 BASIS OF ANY OTHER CREDIT ALLOWED UNDER THIS ARTICLE.
   (B)  QUALIFIED  EMPLOYEE.  A  QUALIFIED  EMPLOYEE IS AN INDIVIDUAL WHO
 COMMENCES EMPLOYMENT BY THE  QUALIFIED  TAXPAYER  ON  OR  AFTER  JANUARY
 FIRST, TWO THOUSAND EIGHTEEN.
   (C)  NET  NEW JOB. "NET NEW JOB" MEANS JOBS CREATED IN THIS STATE THAT
 (1) ARE NEW TO THE STATE, (2) HAVE NOT BEEN TRANSFERRED FROM  EMPLOYMENT
 WITH ANOTHER BUSINESS THAT IS A RELATED PERSON, (3) ARE EITHER FULL-TIME
 WAGE-PAYING  JOBS OR EQUIVALENT TO A FULL-TIME WAGE-PAYING JOB REQUIRING
 AT LEAST THIRTY-FIVE HOURS PER WEEK, AND (4) ARE FILLED  FOR  MORE  THAN
 SIX MONTHS.
 
              

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06532-04-7

 S. 4090--A                          2
 
   (D)  EMPLOYER PROHIBITION. AN EMPLOYER SHALL NOT DISCHARGE AN EMPLOYEE
 AND HIRE A QUALIFYING EMPLOYEE SOLELY FOR THE PURPOSE OF QUALIFYING  FOR
 THIS CREDIT.
   (E) AMOUNT OF CREDIT. THE AMOUNT OF THE CREDIT SHALL BE SIX PERCENT OF
 THE  TOTAL  AMOUNT  OF  WAGES  PAID TO THE QUALIFIED EMPLOYEE DURING THE
 EMPLOYEE'S FIRST SIX MONTHS OF EMPLOYMENT. PROVIDED, HOWEVER,  THAT,  IF
 THE  QUALIFIED EMPLOYEE WAS RECEIVING UNEMPLOYMENT INSURANCE BENEFITS AT
 THE TIME OF HIRE FOR A MINIMUM OF THIRTEEN WEEKS OR IS EMPLOYED DIRECTLY
 IN THE MANUFACTURING PROCESS IN AN ELIGIBLE INDUSTRY, THE AMOUNT OF  THE
 CREDIT  SHALL BE TWELVE PERCENT OF THE TOTAL AMOUNT OF WAGES PAID TO THE
 QUALIFIED EMPLOYEE DURING THE EMPLOYEE'S FIRST SIX MONTHS OF EMPLOYMENT.
 THE CREDIT ALLOWED PURSUANT TO THIS SUBSECTION SHALL NOT EXCEED  IN  ANY
 TAXABLE YEAR, SEVEN HUNDRED FIFTY DOLLARS FOR ANY QUALIFIED EMPLOYEE AND
 ONE  THOUSAND  FIVE  HUNDRED  DOLLARS FOR ANY QUALIFIED EMPLOYEE WHO WAS
 RECEIVING UNEMPLOYMENT INSURANCE BENEFITS AT THE  TIME  OF  HIRE  FOR  A
 MINIMUM OF THIRTEEN WEEKS OR WHO IS EMPLOYED DIRECTLY IN THE MANUFACTUR-
 ING PROCESS IN AN ELIGIBLE INDUSTRY.
   (F)  ELIGIBLE INDUSTRY. AN ELIGIBLE INDUSTRY IS A BUSINESS PRINCIPALLY
 ENGAGED IN THE PRODUCTION OF GOODS BY MANUFACTURING, PROCESSING,  ASSEM-
 BLING, REFINING, MINING, EXTRACTING, FARMING, AGRICULTURE, HORTICULTURE,
 FLORTICULTURE, VITICULTURE OR COMMERCIAL FISHING.
   §  2. Section 210-B of the tax law is amended by adding a new subdivi-
 sion 49 to read as follows:
   49. JOB CREATION TAX CREDIT. (A) ALLOWANCE OF CREDIT. A TAXPAYER  WILL
 BE  ALLOWED  A CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION FORTY-THREE
 OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (B) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER  THIS  SUBDIVISION
 FOR  ANY  TAXABLE  YEAR MAY NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS
 THAN THE HIGHER OF THE AMOUNTS PRESCRIBED IN PARAGRAPH (D)  OF  SUBDIVI-
 SION  ONE  OF  SECTION  TWO HUNDRED TEN OF THIS ARTICLE. HOWEVER, IF THE
 AMOUNT OF CREDIT 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  WILL  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 WILL BE PAID THEREON.
   §  3. Section 606 of the tax law is amended by adding a new subsection
 (ccc) to read as follows:
   (CCC) JOB CREATION TAX CREDIT. (1) A TAXPAYER WILL BE ALLOWED A  CRED-
 IT,  TO  THE  EXTENT  ALLOWED UNDER SECTION FORTY-THREE OF THIS CHAPTER,
 AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (2) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR  ANY
 TAXABLE  YEAR  EXCEEDS THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS WILL
 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 WILL BE PAID THEREON.
   §  4. 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) JOB CREATION TAX CREDIT         AMOUNT OF CREDIT UNDER
 UNDER SUBSECTION (CCC)                  SUBDIVISION FORTY-NINE OF SECTION
                                         TWO HUNDRED TEN-B
   § 5. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2018.