senate Bill S2546A

2019-2020 Legislative Session

Relates to combat veteran tax credit for entrepreneurs

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 12, 2019 reported and committed to finance
Feb 14, 2019 print number 2546a
Feb 14, 2019 amend and recommit to budget and revenue
Jan 28, 2019 referred to budget and revenue

Votes

view votes

Mar 12, 2019 - committee Vote

S2546A
6
0
committee
6
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: Mar 12, 2019

S2546 - Details

Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Add §44, amd §§210-B & 606, Tax L
Versions Introduced in 2017-2018 Legislative Session:
S6920

S2546 - Summary

Relates to combat veteran tax credit for entrepreneurs.

S2546 - Sponsor Memo

S2546 - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2546

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 28, 2019
                               ___________

Introduced  by  Sen.  COMRIE -- 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 a combat veter-
  an tax credit for entrepreneurs

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The tax law is amended by adding a new section 44 to read
as follows:
  § 44.  COMBAT VETERAN ENTREPRENEUR CREDIT. (A) ALLOWANCE OF CREDIT.  A
COMBAT  VETERAN  ENTREPRENEUR,  WHICH  IS  SUBJECT  TO TAX UNDER ARTICLE
NINE-A OR TWENTY-TWO OF THIS CHAPTER AND CREATES A NEW  BUSINESS,  SHALL
BE  ALLOWED A CREDIT AGAINST SUCH TAX. THE CREDIT SHALL NOT BE MORE THAN
FIVE HUNDRED DOLLARS.
  (B) DEFINITIONS. AS USED IN THIS SECTION, THE  FOLLOWING  TERMS  SHALL
HAVE THE FOLLOWING MEANINGS:
  (1)  "COMBAT  VETERAN"  SHALL MEAN ANY INDIVIDUAL WHO IS A RESIDENT OF
THIS STATE WHO HAS SERVED IN THE ARMED FORCES OF THE  UNITED  STATES  IN
HOSTILITIES  THAT OCCURRED AFTER DECEMBER SIXTH, NINETEEN HUNDRED FORTY-
FIVE, AS EVIDENCED BY THEIR RECEIPT OF  AN  ARMED  FORCES  EXPEDITIONARY
MEDAL, NAVY EXPEDITIONARY MEDAL, OR MARINE CORPS EXPEDITIONARY MEDAL AND
WHO WAS DISCHARGED UNDER HONORABLE CONDITIONS, INCLUDING BUT NOT LIMITED
TO HONORABLE DISCHARGE, DISCHARGE UNDER HONORABLE CONDITIONS, OR GENERAL
DISCHARGE.
  (2)  "ENTREPRENEUR" SHALL MEAN ANY PERSON WHO ORGANIZES AND OPERATES A
BUSINESS OR BUSINESSES.
  (C) CROSS-REFERENCES. FOR APPLICATION OF THE CREDIT  PROVIDED  FOR  IN
THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
  (1) ARTICLE 9-A: SECTION 210-B, SUBDIVISION 28.
  (2) ARTICLE 22: SECTION 606, SUBSECTION (A-3).
  §  2. Section 210-B of the tax law is amended by adding a new subdivi-
sion 28 to read as follows:

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

S2546A (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Add §44, amd §§210-B & 606, Tax L
Versions Introduced in 2017-2018 Legislative Session:
S6920

S2546A (ACTIVE) - Summary

Relates to combat veteran tax credit for entrepreneurs.

S2546A (ACTIVE) - Sponsor Memo

S2546A (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 2546--A

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 28, 2019
                               ___________

Introduced  by  Sen.  COMRIE -- 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 a combat veter-
  an tax credit for entrepreneurs

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The tax law is amended by adding a new section 44 to read
as follows:
  § 44.  COMBAT VETERAN ENTREPRENEUR CREDIT. (A) ALLOWANCE OF CREDIT.  A
COMBAT  VETERAN  ENTREPRENEUR,  WHICH  IS  SUBJECT  TO TAX UNDER ARTICLE
NINE-A OR TWENTY-TWO OF THIS CHAPTER AND CREATES A NEW  BUSINESS,  SHALL
BE  ALLOWED A CREDIT AGAINST SUCH TAX. THE CREDIT SHALL BE EQUAL TO FIVE
HUNDRED DOLLARS.  THE TOTAL AMOUNT OF CREDIT TO  BE  PROVIDED  STATEWIDE
SHALL NOT EXCEED FIVE MILLION DOLLARS IN A TAXABLE YEAR.
  (B)  DEFINITIONS.  AS  USED IN THIS SECTION, THE FOLLOWING TERMS SHALL
HAVE THE FOLLOWING MEANINGS:
  (1) "COMBAT VETERAN" SHALL MEAN ANY INDIVIDUAL WHO IS  A  RESIDENT  OF
THIS  STATE  WHO  HAS SERVED IN THE ARMED FORCES OF THE UNITED STATES IN
HOSTILITIES THAT OCCURRED AFTER DECEMBER SIXTH, NINETEEN HUNDRED  FORTY-
FIVE,  AS  EVIDENCED  BY  THEIR RECEIPT OF AN ARMED FORCES EXPEDITIONARY
MEDAL, NAVY EXPEDITIONARY MEDAL, OR MARINE CORPS EXPEDITIONARY MEDAL AND
WHO WAS DISCHARGED UNDER HONORABLE CONDITIONS, INCLUDING BUT NOT LIMITED
TO HONORABLE DISCHARGE, DISCHARGE UNDER HONORABLE CONDITIONS, OR GENERAL
DISCHARGE.
  (2) "ENTREPRENEUR" SHALL MEAN ANY PERSON WHO ORGANIZES AND OPERATES  A
BUSINESS OR BUSINESSES.
  (C)  CROSS-REFERENCES.  FOR  APPLICATION OF THE CREDIT PROVIDED FOR IN
THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
  (1) ARTICLE 9-A: SECTION 210-B, SUBDIVISION 28.

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

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