Assembly Bill A2590

2019-2020 Legislative Session

Relates to creating a doing business with a vocational program tax credit

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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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2019-A2590 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§606 & 210-B, Tax L
Versions Introduced in 2017-2018 Legislative Session:
A9568

2019-A2590 (ACTIVE) - Summary

Creates a doing business with a vocational program tax credit equal to one hundred percent of the purchases made by the taxpayer to a business that is a vocational program.

2019-A2590 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2590
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 24, 2019
                                ___________
 
 Introduced  by  M.  of A. CROUCH, DiPIETRO, GIGLIO, LAWRENCE, MORINELLO,
   NORRIS -- Multi-Sponsored by -- M. of  A.  HAWLEY  --  read  once  and
   referred to the Committee on Ways and Means
 
 AN  ACT  to  amend the tax law, in relation to creating a doing business
   with a vocational program tax credit

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  606  of  the  tax law is amended by adding a new
 subsection (jjj) to read as follows:
   (JJJ) DOING BUSINESS WITH A VOCATIONAL PROGRAM TAX CREDIT. (1)  ALLOW-
 ANCE OF CREDIT. A TAXPAYER WHO OWNS A BUSINESS THAT MAKES PURCHASES FROM
 A  VOCATIONAL  PROGRAM  SHALL  BE  ALLOWED  A  CREDIT, TO BE COMPUTED AS
 PROVIDED IN PARAGRAPH THREE OF THIS SUBSECTION, AGAINST THE TAX  IMPOSED
 BY  THIS  ARTICLE. TO QUALIFY FOR THE CREDIT PROVIDED IN THIS SECTION, A
 TAXPAYER MUST BE A NEW YORK RESIDENT AND OWN A BUSINESS LOCATED  IN  NEW
 YORK.
   (2)  DEFINITION.  FOR THE PURPOSES OF THIS SUBSECTION, THE TERM "VOCA-
 TIONAL PROGRAM" SHALL HAVE THE SAME  DEFINITION  AS  SET  FORTH  BY  THE
 COMMISSIONER OF THE OFFICE OF PEOPLE WITH DEVELOPMENTAL DISABILITIES.
   (3)  AMOUNT  OF  CREDIT.  THE AMOUNT OF CREDIT SHALL EQUAL ONE HUNDRED
 PERCENT OF THE PURCHASES MADE BY THE TAXPAYER TO A BUSINESS  THAT  IS  A
 VOCATIONAL PROGRAM.
   (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.
   §  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:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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