Senate Bill S2119B

2019-2020 Legislative Session

Establishes the work opportunity tax credit for businesses with fifty employees or less for hiring a long term unemployed person

download bill text pdf

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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Actions

View Actions

Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 08, 2020	referred to budget and revenue
May 29, 2019	print number 2119b
May 29, 2019	amend and recommit to finance
May 14, 2019	reported and committed to finance
May 08, 2019	print number 2119a
May 08, 2019	amend and recommit to budget and revenue
Jan 22, 2019	referred to budget and revenue

Votes

- May 14, 2019 - Budget And Revenue Committee Vote
  S2119B
  
  Aye
  
  7
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  
  0
  - - Budget And Revenue Committee Vote: May 14, 2019
      
      aye (7)
      
      Antonacci
      
      Benjamin
      
      Kaminsky
      
      Krueger
      
      Liu
      
      Martinez
      
      Tedisco

Bill Amendments

Original

B (Active)

2019-S2119 - Details

See Assembly Version of this Bill:: A8471
Current Committee:: Senate Budget And Revenue
Law Section:: Tax Law
Laws Affected:: Amd §§210-B, 606 & 1511, Tax L
Versions Introduced in Other Legislative Sessions:: 2015-2016: S5573
2017-2018: S1517
2021-2022: S637, A5300
2023-2024: S5846, A5239
2025-2026: S3694, A7161

2019-S2119 - Summary

Establishes the work opportunity tax credit for businesses with fifty employees or less for hiring a long term unemployed person; a credit shall be allowed of up to $2,400; the total amount of credit provided statewide shall not exceed fifteen million dollars.

2019-S2119 - Sponsor Memo

                                
 
BILL NUMBER: S2119

SPONSOR: SANDERS
 
TITLE OF BILL:  An act to amend the tax law, in relation to establish-
ing the work opportunity tax credit

 
PURPOSE OR GENERAL IDEA OF BILL:

To provide a tax credit for small businesses in order to incentivize the
hiring of long term unemployed persons.

 
SUMMARY OF PROVISIONS:

Section one of the bill amends section 210-B of the tax law by adding a
new subdivision 49, which establishes the work opportunity tax credit.
It provides that a taxpayer shall be allowed a credit of two thousand
four hundred dollars for each long term unemployed person hired during a
taxable year. The credit is applicable to businesses that have fifty or
fewer employees. A "long term unemployed person" is defined as an indi-
vidual who has been a resident of New York for three years immediately
preceding hiring and who, prior to being hired by the business eligible

for the credit, had been unemployed and receiving public assistance for
six consecutive months or more, and is retained for full-time unemploy-
ment by such business for at least one year.

Section two amends subparagraph (B) of paragraph 1 of subsection (i) of
section 606 of the tax law by adding a new clause to establish the work
opportunity tax credit.

Section three amends section 606 of the tax law by adding a new
subsection (ccc), which establishes the work opportunity tax credit.  It
provides that a taxpayer shall be allowed a credit of two thousand four
hundred dollars for each long term unemployed person hired during a
taxable year. The credit is applicable to businesses that have fifty or
fewer employees. A "long term unemployed person" is defined as an indi-
vidual who has been a resident of New York for three years immediately
preceding hiring and who, prior to being hired by the business eligible
for the credit, had been unemployed and receiving public assistance for
six consecutive months or more, and is retained for full-time unemploy-
ment by such business for at least one year.

Section four establishes that this act shall take effect immediately and
apply to taxable years beginning on and after January 1, 2018.

 
JUSTIFICATION:

As our economy continues to recover from the Great Recession, the long-
term unemployment rate has remained unacceptably high. Studies across
the board show that those who have been unemployed for a longer period
of time have a much harder chance of landing that next job. Current
statistics from the U.S Bureau of Labor reflect that the number of long-
term unemployed persons remains at levels more than twice as high as
those prior to the Great Recession. The problem is far-reaching with
national unemployment rates revealing that despite recent job growth,
the long-term unemployed continue to make up approximately 30% of the
unemployed in all age and education ranges.

At the same time, studies have shown that one of the keys to economic
growth lies within small businesses. The growth of small businesses is
critical to ensuring continued innovation and opportunity, all the while
diversifying our economy. Small businesses are the engine behind job
expansion and a strong economy.

This legislation aims to address two issues: long-term unemployment, and
small business growth. By providing a tax credit to small businesses for
each long-term unemployed individual they hire and retain as a new
employee, this bill will ultimately spur job creation, provide an added
incentive to hire an individual who has had more difficulty finding work
than others, and provide much-needed tax relief to small businesses.

 
PRIOR LEGISLATIVE HISTORY:

None.

 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:

None.

 
EFFECTIVE DATE:
This act shall take effect immediately and apply to taxable years begin-
ning on and after January 1, 2018.

2019-S2119 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2119
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 22, 2019
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law, in relation to establishing the work oppor-
   tunity tax credit
 
   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 53 to read as follows:
   53. WORK OPPORTUNITY TAX CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT,
 AGAINST THE TAX IMPOSED BY THIS ARTICLE, OF TWO  THOUSAND  FOUR  HUNDRED
 DOLLARS  FOR  EACH  LONG  TERM  UNEMPLOYED PERSON HIRED DURING A TAXABLE
 YEAR. SUCH TAX CREDIT SHALL BE APPLICABLE ONLY TO  BUSINESSES  EMPLOYING
 FIFTY  OR FEWER EMPLOYEES. FOR THE PURPOSES OF THIS SUBDIVISION, A "LONG
 TERM UNEMPLOYED PERSON" SHALL BE AN INDIVIDUAL WHO HAS BEEN  A  RESIDENT
 OF  NEW YORK FOR THREE YEARS IMMEDIATELY PRECEDING HIRING AND WHO, PRIOR
 TO BEING HIRED BY THE  BUSINESS  ELIGIBLE  FOR  THE  CREDIT  ESTABLISHED
 PURSUANT  TO  THIS SUBDIVISION, HAD BEEN UNEMPLOYED AND RECEIVING PUBLIC
 ASSISTANCE FOR SIX CONSECUTIVE MONTHS OR MORE, AND IS RETAINED FOR FULL-
 TIME EMPLOYMENT BY SUCH BUSINESS FOR AT LEAST ONE YEAR.
   § 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:
 
 (XLIV) WORK OPPORTUNITY TAX CREDIT   AMOUNT OF CREDIT UNDER
 UNDER SUBSECTION (JJJ)               SUBDIVISION FIFTY-THREE OF
                                      SECTION TWO HUNDRED TEN-B
 
   § 3. Section 606 of the tax law is amended by adding a new  subsection
 (jjj) to read as follows:
   (JJJ) WORK OPPORTUNITY TAX CREDIT. A TAXPAYER SHALL BE ALLOWED A CRED-
 IT,  AGAINST  THE  TAX  IMPOSED  BY  THIS  ARTICLE, OF TWO THOUSAND FOUR

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

                                                            LBD05841-01-9

 S. 2119                             2
 
 HUNDRED DOLLARS FOR EACH LONG TERM  UNEMPLOYED  PERSON  HIRED  DURING  A
 TAXABLE  YEAR.  SUCH  TAX  CREDIT SHALL BE APPLICABLE ONLY TO BUSINESSES
 EMPLOYING FIFTY OR FEWER EMPLOYEES. FOR THE PURPOSES  OF  THIS  SUBDIVI-
 SION,  A  "LONG  TERM  UNEMPLOYED PERSON" SHALL BE AN INDIVIDUAL WHO HAS
 BEEN A RESIDENT OF NEW YORK FOR THREE YEARS IMMEDIATELY PRECEDING HIRING
 AND WHO, PRIOR TO BEING HIRED BY THE BUSINESS ELIGIBLE  FOR  THE  CREDIT
 ESTABLISHED PURSUANT TO THIS SUBSECTION, HAD BEEN UNEMPLOYED AND RECEIV-
 ING  PUBLIC  ASSISTANCE  FOR  SIX  CONSECUTIVE  MONTHS  OR  MORE, AND IS
 RETAINED FOR FULL-TIME EMPLOYMENT BY SUCH  BUSINESS  FOR  AT  LEAST  ONE
 YEAR.
   § 4. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2020.

2019-S2119A - Details

See Assembly Version of this Bill:: A8471
Current Committee:: Senate Budget And Revenue
Law Section:: Tax Law
Laws Affected:: Amd §§210-B, 606 & 1511, Tax L
Versions Introduced in Other Legislative Sessions:: 2015-2016: S5573
2017-2018: S1517
2021-2022: S637, A5300
2023-2024: S5846, A5239
2025-2026: S3694, A7161

2019-S2119A - Summary

2019-S2119A - Sponsor Memo

                                
 
BILL NUMBER: S2119A

SPONSOR: SANDERS
 
TITLE OF BILL:  An act to amend the tax law, in relation to establish-
ing the work opportunity tax credit

 
PURPOSE OR GENERAL IDEA OF BILL:

To provide a tax credit for small businesses in order to incentivize the
hiring of long term unemployed persons.

 
SUMMARY OF PROVISIONS:

Section one of the bill amends section 210-B of the tax law by adding a
new subdivision 49, which establishes the work opportunity tax credit.
It provides that a taxpayer shall be allowed a credit of two thousand
four hundred dollars for each long term unemployed person hired during a
taxable year. The credit is applicable to businesses that have fifty or
fewer employees. A "long term unemployed person" is defined as an indi-
vidual who has been a resident of New York for three years immediately
preceding hiring and who, prior to being hired by the business eligible

for the credit, had been unemployed and receiving public assistance for
six consecutive months or more, and is retained for full-time unemploy-
ment by such business for at least one year.

Section two amends subparagraph (B) of paragraph 1 of subsection (i) of
section 606 of the tax law by adding a new clause to establish the work
opportunity tax credit.

Section three amends section 606 of the tax law by adding a new
subsection (ccc), which establishes the work opportunity tax credit.  It
provides that a taxpayer shall be allowed a credit of two thousand four
hundred dollars for each long term unemployed person hired during a
taxable year. The credit is applicable to businesses that have fifty or
fewer employees. A "long term unemployed person" is defined as an indi-
vidual who has been a resident of New York for three years immediately
preceding hiring and who, prior to being hired by the business eligible
for the credit, had been unemployed and receiving public assistance for
six consecutive months or more, and is retained for full-time unemploy-
ment by such business for at least one year.

Section four establishes that this act shall take effect immediately and
apply to taxable years beginning on and after January 1, 2018.

 
JUSTIFICATION:

As our economy continues to recover from the Great Recession, the long-
term unemployment rate has remained unacceptably high. Studies across
the board show that those who have been unemployed for a longer period
of time have a much harder chance of landing that next job.  Current
statistics from the U.S Bureau of Labor reflect that the number of long-
term unemployed persons remains at levels more than twice as high as
those prior to the Great Recession. The problem is far-reaching with
national unemployment rates revealing that despite recent job growth,
the long-term unemployed continue to make up approximately 30% of the
unemployed in all age and education ranges.

At the same time, studies have shown that one of the keys to economic
growth lies within small businesses. The growth of small businesses is
critical to ensuring continued innovation and opportunity, all the while
diversifying our economy. Small businesses are the engine behind job
expansion and a strong economy.

This legislation aims to address two issues: long-term unemployment, and
small business growth. By providing a tax credit to small businesses for
each long-term unemployed individual they hire and retain as a new
employee, this bill will ultimately spur job creation, provide an added
incentive to hire an individual who has had more difficulty finding work
than others, and provide much-needed tax relief to small businesses.

 
PRIOR LEGISLATIVE HISTORY:

2017-18: S.1517 REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATION

 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:

The total tax credit amount statewide is capped at $15 million per taxa-
ble year.

 
EFFECTIVE DATE:
This act shall take effect immediately and apply to taxable years begin-
ning on and after January 1, 2018.

2019-S2119A - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  2119--A
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 22, 2019
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be committed to the Committee  on  Budget  and  Revenue  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee
 
 AN ACT to amend the tax law, in relation to establishing the work oppor-
   tunity tax credit

   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 54 to read as follows:
   54. WORK OPPORTUNITY TAX CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT,
 AGAINST THE TAX IMPOSED BY THIS ARTICLE, OF TWO  THOUSAND  FOUR  HUNDRED
 DOLLARS  FOR  EACH  LONG  TERM  UNEMPLOYED PERSON HIRED DURING A TAXABLE
 YEAR. SUCH TAX CREDIT SHALL BE APPLICABLE ONLY TO  BUSINESSES  EMPLOYING
 FIFTY  OR FEWER EMPLOYEES. FOR THE PURPOSES OF THIS SUBDIVISION, A "LONG
 TERM UNEMPLOYED PERSON" SHALL BE AN INDIVIDUAL WHO HAS BEEN  A  RESIDENT
 OF  NEW YORK FOR THREE YEARS IMMEDIATELY PRECEDING HIRING AND WHO, PRIOR
 TO BEING HIRED BY THE  BUSINESS  ELIGIBLE  FOR  THE  CREDIT  ESTABLISHED
 PURSUANT  TO  THIS SUBDIVISION, HAD BEEN UNEMPLOYED AND RECEIVING PUBLIC
 ASSISTANCE FOR SIX CONSECUTIVE MONTHS OR MORE, AND IS RETAINED FOR FULL-
 TIME EMPLOYMENT BY SUCH BUSINESS FOR AT LEAST ONE YEAR. THE TOTAL AMOUNT
 OF CREDIT TO BE PROVIDED STATEWIDE  SHALL  NOT  EXCEED  FIFTEEN  MILLION
 DOLLARS IN A TAXABLE YEAR.
   §  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding  a  new  clause  (xlv)  to  read  as
 follows:
 
 (XLV) WORK OPPORTUNITY TAX CREDIT    AMOUNT OF CREDIT UNDER
 UNDER SUBSECTION (KKK)               SUBDIVISION FIFTY-FOUR OF
                                      SECTION TWO HUNDRED TEN-B

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05841-02-9

 S. 2119--A                          2
 
   §  3. Section 606 of the tax law is amended by adding a new subsection
 (kkk) to read as follows:
   (KKK) WORK OPPORTUNITY TAX CREDIT. A TAXPAYER SHALL BE ALLOWED A CRED-
 IT,  AGAINST  THE  TAX  IMPOSED  BY  THIS  ARTICLE, OF TWO THOUSAND FOUR
 HUNDRED DOLLARS FOR EACH LONG TERM  UNEMPLOYED  PERSON  HIRED  DURING  A
 TAXABLE  YEAR.  SUCH  TAX  CREDIT SHALL BE APPLICABLE ONLY TO BUSINESSES
 EMPLOYING FIFTY OR FEWER EMPLOYEES. FOR THE PURPOSES  OF  THIS  SUBDIVI-
 SION,  A  "LONG  TERM  UNEMPLOYED PERSON" SHALL BE AN INDIVIDUAL WHO HAS
 BEEN A RESIDENT OF NEW YORK FOR THREE YEARS IMMEDIATELY PRECEDING HIRING
 AND WHO, PRIOR TO BEING HIRED BY THE BUSINESS ELIGIBLE  FOR  THE  CREDIT
 ESTABLISHED PURSUANT TO THIS SUBSECTION, HAD BEEN UNEMPLOYED AND RECEIV-
 ING  PUBLIC  ASSISTANCE  FOR  SIX  CONSECUTIVE  MONTHS  OR  MORE, AND IS
 RETAINED FOR FULL-TIME EMPLOYMENT BY SUCH  BUSINESS  FOR  AT  LEAST  ONE
 YEAR.  THE  TOTAL  AMOUNT  OF  CREDIT TO BE PROVIDED STATEWIDE SHALL NOT
 EXCEED FIFTEEN MILLION DOLLARS IN A TAXABLE YEAR.
   § 4. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2020.

co-Sponsors

2019-S2119B (ACTIVE) - Details

See Assembly Version of this Bill:: A8471
Current Committee:: Senate Budget And Revenue
Law Section:: Tax Law
Laws Affected:: Amd §§210-B, 606 & 1511, Tax L
Versions Introduced in Other Legislative Sessions:: 2015-2016: S5573
2017-2018: S1517
2021-2022: S637, A5300
2023-2024: S5846, A5239
2025-2026: S3694, A7161

2019-S2119B (ACTIVE) - Summary

2019-S2119B (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S2119B

SPONSOR: SANDERS
 
TITLE OF BILL:  An act to amend the tax law, in relation to establish-
ing the work opportunity tax credit

 
PURPOSE OR GENERAL IDEA OF BILL:

To provide a state tax credit for small businesses in order to incentiv-
ize the hiring of long term unemployed persons.

 
SUMMARY OF PROVISIONS:

Section one of the bill amends section 210-B of the tax law by adding a
new subdivision 49, which establishes the work opportunity tax credit.
It provides that a taxpayer shall be allowed a credit of two thousand
four hundred dollars for each long term unemployed person hired during a
taxable year. The credit is applicable to businesses that have fifty or
fewer employees. A "long term unemployed person" is defined as an indi-
vidual who has been a resident of New York for three years immediately
preceding hiring and who, prior to being hired by the business eligible

for the credit, had been unemployed and receiving public assistance for
six consecutive months or more, and is retained for full-time unemploy-
ment by such business for at least one year.

Section two amends subparagraph (B) of paragraph 1 of subsection (i) of
section 606 of the tax law by adding a new clause to establish the work
opportunity tax credit.

Section three amends section 606 of the tax law by adding a new
subsection (ccc), which establishes the work opportunity tax credit.  It
provides that a taxpayer shall be allowed a credit of two thousand four
hundred dollars for each long term unemployed person hired during a
taxable year. The credit is applicable to businesses that have fifty or
fewer employees. A "long term unemployed person" is defined as an indi-
vidual who has been a resident of New York for three years immediately
preceding hiring and who, prior to being hired by the business eligible
for the credit, had been unemployed and receiving public assistance for
six consecutive months or more, and is retained for full-time unemploy-
ment by such business for at least one year.

Section four establishes that this act shall take effect immediately and
apply to taxable years beginning on and after January 1, 2020.

 
JUSTIFICATION:

As our economy continues to recover from the Great Recession, the long-
term unemployment rate has remained unacceptably high. Studies across
the board show that those who have been unemployed for a longer period
of time have a much harder chance of landing that next job.  Current
statistics from the U.S Bureau of Labor reflect that the number of long-
term unemployed persons remains at levels more than twice as high as
those prior to the Great Recession. The problem is far-reaching with
national unemployment rates revealing that despite recent job growth,
the long-term unemployed continue to make up approximately 30% of the
unemployed in all age and education ranges.

At the same time, studies have shown that one of the keys to economic
growth lies within small businesses. The growth of small businesses is
critical to ensuring continued innovation and opportunity, all the while
diversifying our economy. Small businesses are the engine behind job
expansion and a strong economy.

This legislation aims to address two issues: long-term unemployment, and
small business growth. By providing a tax credit to small businesses for
each long-term unemployed individual they hire and retain as a new
employee, this bill will ultimately spur job creation, provide an added
incentive to hire an individual who has had more difficulty finding work
than others, and provide much-needed tax relief to small businesses.

 
PRIOR LEGISLATIVE HISTORY:

2017: S.1517 REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
2018: S.1517 REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

 
FISCAL IMPLICATIONS:

The total amount of the state tax credit is capped at $15 million in the
aggregate in a taxable year beginning January 1, 2020.

 
EFFECTIVE DATE:
This act shall take effect immediately and apply to taxable years begin-
ning on and after January 1, 2020.

2019-S2119B (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  2119--B
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 22, 2019
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be committed to the Committee  on  Budget  and  Revenue  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee -- reported favorably from said  commit-
   tee and committed to the Committee on Finance -- committee discharged,
   bill  amended,  ordered  reprinted  as amended and recommitted to said
   committee
 
 AN ACT to amend the tax law, in relation to establishing the work oppor-
   tunity tax credit
 
   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 54 to read as follows:
   54. WORK OPPORTUNITY TAX CREDIT. (A) ALLOWANCE OF CREDIT.  A  TAXPAYER
 SHALL  BE  ALLOWED A CREDIT, AGAINST THE TAX IMPOSED BY THIS ARTICLE, OF
 TWO THOUSAND FOUR HUNDRED DOLLARS FOR EACH LONG TERM  UNEMPLOYED  PERSON
 HIRED DURING A TAXABLE YEAR. SUCH TAX CREDIT SHALL BE APPLICABLE ONLY TO
 BUSINESSES  EMPLOYING FIFTY OR FEWER EMPLOYEES. FOR THE PURPOSES OF THIS
 SUBDIVISION, A "LONG TERM UNEMPLOYED PERSON" SHALL BE AN INDIVIDUAL  WHO
 HAS  BEEN  A  RESIDENT OF NEW YORK FOR THREE YEARS IMMEDIATELY PRECEDING
 HIRING AND WHO, PRIOR TO BEING HIRED BY THE BUSINESS  ELIGIBLE  FOR  THE
 CREDIT ESTABLISHED PURSUANT TO THIS SUBDIVISION, HAD BEEN UNEMPLOYED AND
 RECEIVING  PUBLIC  ASSISTANCE FOR SIX CONSECUTIVE MONTHS OR MORE, AND IS
 RETAINED FOR FULL-TIME EMPLOYMENT BY SUCH  BUSINESS  FOR  AT  LEAST  ONE
 YEAR.
   (B)  APPLICATION  OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
 FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO  LESS
 THAN  THE  FIXED  DOLLAR  MINIMUM  AMOUNT PRESCRIBED IN PARAGRAPH (D) OF
 SUBDIVISION 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 OR IF THE TAXPAYER OTHERWISE PAYS TAX
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD05841-03-9

 S. 2119--B                          2
 
 BASED ON THE FIXED DOLLAR MINIMUM AMOUNT, ANY AMOUNT OF CREDIT THUS  NOT
 DEDUCTIBLE  IN  SUCH  TAXABLE YEAR SHALL 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 SHALL BE PAID THEREON. THE
 TOTAL AMOUNT OF CREDIT TO BE PROVIDED STATEWIDE  FOR  THIS  CREDIT,  THE
 CREDIT ALLOWED UNDER SUBSECTION (KKK) OF SECTION SIX HUNDRED SIX OF THIS
 CHAPTER  AND  SUBDIVISION (EE) OF SECTION FIFTEEN HUNDRED ELEVEN OF THIS
 CHAPTER SHALL NOT EXCEED FIFTEEN MILLION DOLLARS IN THE AGGREGATE  IN  A
 TAXABLE YEAR.
   (C)  CREDIT  RECAPTURE.  FOR PROVISIONS REQUIRING RECAPTURE OF CREDIT,
 SEE SECTION FORTY-FOUR OF THIS CHAPTER.
   § 2. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
 of  the  tax  law  is  amended  by  adding a new clause (xlv) to read as
 follows:

 (XLV) WORK OPPORTUNITY TAX CREDIT    AMOUNT OF CREDIT UNDER
 UNDER SUBSECTION (KKK)               SUBDIVISION FIFTY-FOUR OF
                                      SECTION TWO HUNDRED TEN-B
 
   § 3. Section 606 of the tax law is amended by adding a new  subsection
 (kkk) to read as follows:
   (KKK) WORK OPPORTUNITY TAX CREDIT. (1) ALLOWANCE OF CREDIT. A TAXPAYER
 SHALL  BE  ALLOWED A CREDIT, AGAINST THE TAX IMPOSED BY THIS ARTICLE, OF
 TWO THOUSAND FOUR HUNDRED DOLLARS FOR EACH LONG TERM  UNEMPLOYED  PERSON
 HIRED DURING A TAXABLE YEAR. SUCH TAX CREDIT SHALL BE APPLICABLE ONLY TO
 BUSINESSES  EMPLOYING FIFTY OR FEWER EMPLOYEES. FOR THE PURPOSES OF THIS
 SUBDIVISION, A "LONG TERM UNEMPLOYED PERSON" SHALL BE AN INDIVIDUAL  WHO
 HAS  BEEN  A  RESIDENT OF NEW YORK FOR THREE YEARS IMMEDIATELY PRECEDING
 HIRING AND WHO, PRIOR TO BEING HIRED BY THE BUSINESS  ELIGIBLE  FOR  THE
 CREDIT  ESTABLISHED PURSUANT TO THIS SUBSECTION, HAD BEEN UNEMPLOYED AND
 RECEIVING PUBLIC ASSISTANCE FOR SIX CONSECUTIVE MONTHS OR MORE,  AND  IS
 RETAINED  FOR  FULL-TIME  EMPLOYMENT  BY  SUCH BUSINESS FOR AT LEAST ONE
 YEAR.
   (2) 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. THE TOTAL AMOUNT OF CREDIT TO BE PROVIDED  STATE-
 WIDE FOR THIS CREDIT, THE CREDIT ALLOWED UNDER SUBDIVISION FIFTY-FOUR OF
 SECTION  TWO  HUNDRED  TEN-B  OF  THIS  CHAPTER  AND SUBDIVISION (EE) OF
 SECTION FIFTEEN HUNDRED ELEVEN OF THIS CHAPTER SHALL NOT EXCEED  FIFTEEN
 MILLION DOLLARS IN THE AGGREGATE IN A TAXABLE YEAR.
   (3)  CREDIT  RECAPTURE.  FOR PROVISIONS REQUIRING RECAPTURE OF CREDIT,
 SEE SECTION FORTY-FOUR OF THIS CHAPTER.
   § 4. Section 1511 of the tax law is amended by adding a  new  subdivi-
 sion (ee) to read as follows:
   (EE)  WORK OPPORTUNITY TAX CREDIT. (1) ALLOWANCE OF CREDIT. A TAXPAYER
 SHALL BE ALLOWED A CREDIT, AGAINST THE TAX IMPOSED BY THIS  ARTICLE,  OF
 TWO  THOUSAND  FOUR HUNDRED DOLLARS FOR EACH LONG TERM UNEMPLOYED PERSON
 HIRED DURING A TAXABLE YEAR. SUCH TAX CREDIT SHALL BE APPLICABLE ONLY TO
 BUSINESSES EMPLOYING FIFTY OR FEWER EMPLOYEES. FOR THE PURPOSES OF  THIS
 SUBDIVISION,  A "LONG TERM UNEMPLOYED PERSON" SHALL BE AN INDIVIDUAL WHO
 HAS BEEN A RESIDENT OF NEW YORK FOR THREE  YEARS  IMMEDIATELY  PRECEDING

 S. 2119--B                          3
 
 HIRING  AND  WHO,  PRIOR TO BEING HIRED BY THE BUSINESS ELIGIBLE FOR THE
 CREDIT ESTABLISHED PURSUANT TO THIS SUBDIVISION, HAD BEEN UNEMPLOYED AND
 RECEIVING PUBLIC ASSISTANCE FOR SIX CONSECUTIVE MONTHS OR MORE,  AND  IS
 RETAINED  FOR  FULL-TIME  EMPLOYMENT  BY  SUCH BUSINESS FOR AT LEAST ONE
 YEAR. THE TOTAL AMOUNT OF CREDIT TO  BE  PROVIDED  STATEWIDE  SHALL  NOT
 EXCEED FIFTEEN MILLION DOLLARS IN A TAXABLE YEAR.
   (2)  APPLICATION  OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
 SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO BE LESS THAN  THE  MINIMUM
 FIXED  BY  PARAGRAPH  FOUR OF SUBDIVISION (A) OF SECTION FIFTEEN HUNDRED
 TWO OR SECTION FIFTEEN HUNDRED  TWO-A  OF  THIS  ARTICLE,  WHICHEVER  IS
 APPLICABLE.  HOWEVER,  IF  THE  AMOUNT  OF THE CREDIT ALLOWED UNDER THIS
 SUBDIVISION FOR ANY TAXABLE YEAR REDUCES  THE  TAXPAYER'S  TAX  TO  SUCH
 AMOUNT,  ANY  AMOUNT OF CREDIT THUS NOT DEDUCTIBLE 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 ONE THOUSAND EIGHTY-EIGHT
 OF THIS CHAPTER NOTWITHSTANDING, NO INTEREST SHALL BE PAID THEREON.  THE
 TOTAL  AMOUNT  OF  CREDIT  TO BE PROVIDED STATEWIDE FOR THIS CREDIT, THE
 CREDIT ALLOWED UNDER SUBDIVISION FIFTY-FOUR OF SECTION TWO HUNDRED TEN-B
 OF THIS CHAPTER AND SUBDIVISION (KKK) OF SECTION SIX HUNDRED SIX OF THIS
 CHAPTER SHALL NOT EXCEED FIFTEEN MILLION DOLLARS IN THE AGGREGATE  IN  A
 TAXABLE YEAR.
   (3)  CREDIT  RECAPTURE.  FOR PROVISIONS REQUIRING RECAPTURE OF CREDIT,
 SEE SECTION FORTY-FOUR OF THIS CHAPTER.
   § 5. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2020 and shall apply to eligible
 individuals hired on and after such effective date.

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Senate Bill S2119B

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Archive: Last Bill Status - In Senate Committee Budget And Revenue Committee

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May 14, 2019 - Budget And Revenue Committee Vote

Budget And Revenue Committee Vote: May 14, 2019

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Sponsored By

James Sanders Jr.

Archive: Last Bill Status - In Senate Committee Budget And Revenue Committee

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2019-S2119 - Details

2019-S2119 - Summary

2019-S2119 - Sponsor Memo

2019-S2119 - Bill Text download pdf

2019-S2119A - Details

2019-S2119A - Summary

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Anna M. Kaplan

2019-S2119B (ACTIVE) - Details

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2019-S2119B (ACTIVE) - Bill Text download pdf

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