S T A T E   O F   N E W   Y O R K
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                                   5284
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 8, 2019
                                ___________
 
 Introduced  by M. of A. CRESPO -- Multi-Sponsored by -- M. of A. ARROYO,
   DAVILA, DILAN, MOSLEY, PICHARDO, RAMOS, RIVERA, RODRIGUEZ -- read once
   and referred to the Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to providing a tax  credit  for
   certain newly hired SUNY college faculty members and administrators

   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) EMPLOYEE RELOCATION; STATE UNIVERSITY OF NEW YORK CAMPUS CREDIT.
 (1)  FOR  TAXABLE YEARS BEGINNING ON JANUARY FIRST, TWO THOUSAND TWENTY-
 ONE, A RESIDENT TAXPAYER WHO IS A NEWLY HIRED FACULTY MEMBER OR ADMINIS-
 TRATOR, WHO RELOCATED TO NEW YORK TO WORK AT A STATE UNIVERSITY  OF  NEW
 YORK  CAMPUS,  AND  WHO IS A MINORITY, SHALL BE ALLOWED A CREDIT AGAINST
 THE TAX IMPOSED BY THIS ARTICLE EQUAL TO THIRTY PERCENT OF  HIS  OR  HER
 GROSS  INCOME.  SUCH  QUALIFIED PERSONS SHALL HAVE BEEN HIRED TO WORK AT
 ANY STATE UNIVERSITY CAMPUS EXCLUDING THOSE CAMPUSES  IN  NASSAU,  WEST-
 CHESTER  AND  PUTNAM  COUNTIES.  FOR  PURPOSES OF THIS SECTION, THE TERM
 "NEWLY HIRED" SHALL MEAN FACULTY MEMBERS AND ADMINISTRATORS WHO ARE  NOT
 CURRENTLY EMPLOYED BY THE STATE UNIVERSITY OF NEW YORK.
   (2)  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. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08890-01-9