|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 14, 2019||returned to assembly|
3rd reading cal.1390
substituted for s5545
|Jun 14, 2019||substituted by a7475|
ordered to third reading cal.1390
committee discharged and committed to rules
|May 06, 2019||referred to budget and revenue|
senate Bill S5545
Current Bill Status Via A7475 - Passed Senate & Assembly
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S5545 (ACTIVE) - Details
S5545 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5545 SPONSOR: ADDABBO TITLE OF BILL: An act to amend the tax law and the labor law, in relation to establishing a small business tax credit for the employment of disabled persons; and providing for the repeal of such provisions upon expiration thereof PURPOSE OR GENERAL IDEA OF BILL: To stimulate employment of disabled persons and retain their services. SUMMARY OF PROVISIONS: Section 1: A new section, subdivision 54, is added to section 210-B of the tax law to provide a business tax credit for an employer who employs a disabled person for the duration of six months and who works a minimum of thirty-five hours per a week. The amount of credit per hired disabled person shall range between five thousand to twenty-five thousand dollars.
S5545 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 5545 A. 7475 2019-2020 Regular Sessions S E N A T E - A S S E M B L Y May 6, 2019 ___________ IN SENATE -- Introduced by Sen. ADDABBO -- read twice and ordered print- ed, and when printed to be committed to the Committee on Budget and Revenue IN ASSEMBLY -- Introduced by M. of A. CUSICK, LUPARDO, BLANKENBUSH, COLTON, WEPRIN, STERN, WALSH -- read once and referred to the Commit- tee 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 54 to read as follows: 54. 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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