Assembly Bill A8996

2019-2020 Legislative Session

Establishes a small business tax credit for the employment of disabled persons

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Budget And Revenue 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-A8996 (ACTIVE) - Details

See Senate Version of this Bill:
S7296
Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L; add §25-d, Lab L
Versions Introduced in Other Legislative Sessions:
2021-2022: A3960, S3458
2023-2024: A4733, S1555

2019-A8996 (ACTIVE) - Summary

Establishes a small business tax credit for the employment of disabled persons.

2019-A8996 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8996
 
                           I N  A S S E M B L Y
 
                              January 8, 2020
                                ___________
 
 Introduced  by  M.  of  A. CUSICK, LUPARDO, BLANKENBUSH, COLTON, WEPRIN,
   STERN, WALSH, HUNTER, MOSLEY, BUTTENSCHON, OTIS, SANTABARBARA, REILLY,
   SEAWRIGHT, FALL -- read once and referred to the Committee on Ways and
   Means
 
 AN ACT to amend the tax law and the labor law, in relation to establish-
   ing a small  business  tax  credit  for  the  employment  of  disabled
   persons;  and providing for the repeal of such provisions upon expira-
   tion thereof
 
   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 55 to read as follows:
   55. SMALL BUSINESS  TAX  CREDIT;  DISABLED  PERSONS.  (A)  GENERAL.  A
 TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
 IT,  TO  BE  COMPUTED  AS  PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX
 IMPOSED BY THIS ARTICLE FOR EACH DISABLED PERSON HIRED DURING A  TAXABLE
 YEAR,  PROVIDED  THAT  SUCH  DISABLED PERSON IS EMPLOYED FOR THIRTY-FIVE
 HOURS OR MORE PER WEEK, REMAINS IN THE EMPLOY OF SUCH TAXPAYER  FOR  SIX
 MONTHS  OR  MORE  AND THE EMPLOYER SUBMITS VERIFICATION THAT THE CLAIMED
 EMPLOYEES MEET THE STATUTORY DEFINITION OF "DISABLED PERSON" PURSUANT TO
 PARAGRAPH (D) OF THIS SUBDIVISION.
   (B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
 FIVE  THOUSAND  DOLLARS  PER  HIRED DISABLED PERSON BUT SHALL NOT EXCEED
 TWENTY-FIVE THOUSAND DOLLARS.
   (C) CARRYOVERS.  THE CREDIT ALLOWED UNDER  THIS  SUBDIVISION  FOR  ANY
 TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE
 AMOUNT  PRESCRIBED  IN  PARAGRAPH  (D) OF SUBDIVISION ONE OF SECTION TWO
 HUNDRED TEN OF THIS ARTICLE. HOWEVER, IF THE AMOUNT OF CREDIT  ALLOWABLE
 UNDER  THIS  SUBDIVISION  FOR  ANY  TAXABLE YEAR REDUCES THE TAX TO SUCH
 AMOUNT OR IF THE TAXPAYER OTHERWISE PAYS TAX BASED ON THE  FIXED  DOLLAR
 MINIMUM AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR
 MAY  BE  CARRIED  OVER  TO THE FOLLOWING THREE YEARS AND MAY BE DEDUCTED
 FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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