Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to investigations and government operations |
Mar 16, 2017 |
referred to investigations and government operations |
Senate Bill S5236
2017-2018 Legislative Session
Sponsored By
(D) 11th Senate District
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
Actions
co-Sponsors
(D) 32nd Senate District
2017-S5236 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A863
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§210-B & 606, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
A6767
2015-2016: S3958, A1073
2019-2020: S3883, A419
2021-2022: S4220, A762
2017-S5236 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5236 TITLE OF BILL : An act to amend the tax law, in relation to establishing a small business tax credit for the employment of persons sixty-five years of age or older PURPOSE : To stimulate employment of persons sixty-five or older who face unprecedented challenges in reentering the workforce or continuing employment. SUMMARY OF PROVISIONS : Section 1: Amendment to section 210-B of the tax law is amended by adding a new subdivision 49. Provides for a business tax credit for the employer in regard to employment of persons age sixty-five or older for the duration of twelve months or more, and for thirty-five hours or more per week. Tax credit range will range between five thousand to twenty-five thousand dollars. Section 2: Subparagraph (B) of paragraph 1 of subsection (i) of section 606 of the tax law is amended by adding a new clause (xliii).
2017-S5236 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5236 2017-2018 Regular Sessions I N S E N A T E March 16, 2017 ___________ Introduced by Sen. STAVISKY -- 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 small busi- ness tax credit for the employment of persons sixty-five years of age or older 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; PERSONS AGE SIXTY-FIVE OR OLDER. (A) GENERAL. A TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR EACH PERSON AGE SIXTY-FIVE OR OLDER HIRED DURING A TAXABLE YEAR, PROVIDED THAT SUCH PERSON AGE SIXTY-FIVE OR OLDER 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 PERSON AGE SIXTY-FIVE OR OLDER 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. § 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 PERSONS SIXTY-FIVE YEARS OF AGE OR FORTY-NINE OF SECTION OLDER UNDER SUBSECTION (CCC) TWO HUNDRED TEN-B EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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