senate Bill S6724

2019-2020 Legislative Session

Establishes the losses from payroll interruption credit

download bill text pdf

Sponsored By

Current Bill Status - On Floor Calendar


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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (8)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 27, 2020 advanced to third reading
Jan 23, 2020 2nd report cal.
Jan 22, 2020 1st report cal.254
Jan 16, 2020 committee discharged and committed to finance
Jan 13, 2020 print number 6724a
Jan 13, 2020 amend (t) and recommit to budget and revenue
Jan 08, 2020 referred to budget and revenue
Sep 18, 2019 referred to rules

Votes

view votes

Jan 22, 2020 - Finance committee Vote

S6724A
12
0
committee
12
Aye
0
Nay
11
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

S6724 - Details

Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L

S6724 - Summary

Provides that for taxable years beginning on or after January first, two thousand nineteen, a qualified taxpayer will be able to claim a refundable credit up to two hundred fifty dollars for eligible losses incurred from the interruption in the payment of their wages or salary due to an action by a payroll service company; defines terms; makes related provisions.

S6724 - Sponsor Memo

S6724 - Bill Text download pdf


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

                                  6724

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                           September 18, 2019
                               ___________

Introduced  by Sen. BENJAMIN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to amend the tax law, in relation  to  the  losses  from  payroll
  interruption credit

  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 (kkk) to read as follows:
  (KKK)  LOSSES  FROM PAYROLL INTERRUPTION CREDIT. (1) FOR TAXABLE YEARS
BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND NINETEEN, A  QUALIFIED
TAXPAYER  WILL  BE  ABLE  TO CLAIM A REFUNDABLE CREDIT UP TO TWO HUNDRED
FIFTY DOLLARS FOR ELIGIBLE LOSSES INCURRED FROM THE INTERRUPTION IN  THE
PAYMENT  OF  THEIR WAGES OR SALARY DUE TO AN ACTION BY A PAYROLL SERVICE
COMPANY.
  (2) FOR PURPOSES OF THIS SUBSECTION, THE FOLLOWING  DEFINITIONS  SHALL
APPLY:
  (I)  "QUALIFIED  TAXPAYER"  SHALL  MEAN  A RESIDENT OF NEW YORK WITH A
FEDERAL ADJUSTED GROSS INCOME UP TO NINETY THOUSAND DOLLARS IF FILING AS
A SINGLE, HEAD OF HOUSEHOLD, OR QUALIFIED WIDOW(ER) FILER OR ONE HUNDRED
EIGHTY THOUSAND DOLLARS IF MARRIED FILING JOINTLY.
  (II) "ELIGIBLE LOSSES" SHALL MEAN ANY PENALTIES OR FEES  INCURRED  DUE
TO HAVING A LOSS OF WAGES OR SALARY DUE TO THE DELAY, WITHDRAWAL OR LOSS
OF  A  PAYCHECK  OR  PAYCHECKS  DUE TO THE ACTIONS OF A PAYROLL COMPANY,
INCLUDING BUT NOT LIMITED TO FEES AND PENALTIES FOR  AN  OVERDRAWN  BANK
ACCOUNT, LATE RENT PAYMENT, LATE LOAN PAYMENTS, OR OTHER LOSSES.
  (III)  "PAYROLL  SERVICE  COMPANY"  MEANS  A COMPANY CONTRACTED BY THE
QUALIFIED TAXPAYER'S EMPLOYER TO HANDLE RESPONSIBILITIES  INCLUDING  BUT
NOT  LIMITED  TO  SETTING  UP  AND  MAKING ADJUSTMENTS TO DIRECT DEPOSIT
ACCOUNTS, CALCULATING PAYROLL TAXES AND ENSURING CORRECT DEDUCTIONS  ARE
MADE,  PROVIDING  ELECTRONIC PAYROLL RECORDS TO EMPLOYEES AND EMPLOYERS,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13815-01-9

Co-Sponsors

S6724A (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L

S6724A (ACTIVE) - Summary

Provides that for taxable years beginning on or after January first, two thousand nineteen, a qualified taxpayer will be able to claim a refundable credit up to two hundred fifty dollars for eligible losses incurred from the interruption in the payment of their wages or salary due to an action by a payroll service company; defines terms; makes related provisions.

S6724A (ACTIVE) - Sponsor Memo

S6724A (ACTIVE) - Bill Text download pdf


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

                                 6724--A

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                           September 18, 2019
                               ___________

Introduced  by Sen. BENJAMIN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules  --  recommitted  to
  the  Committee on Budget and Revenue in accordance with Senate Rule 6,
  sec. 8 -- committee discharged, bill  amended,  ordered  reprinted  as
  amended and recommitted to said committee

AN  ACT  to  amend  the  tax law, in relation to the losses from payroll
  interruption credit; and providing for the repeal of  such  provisions
  upon expiration thereof

  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 (kkk) to read as follows:
  (KKK)  LOSSES  FROM PAYROLL INTERRUPTION CREDIT. (1) FOR TAXABLE YEARS
BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND NINETEEN, A  QUALIFIED
TAXPAYER  WILL  BE  ABLE  TO CLAIM A REFUNDABLE CREDIT UP TO TWO HUNDRED
FIFTY DOLLARS FOR ELIGIBLE LOSSES INCURRED FROM THE INTERRUPTION IN  THE
PAYMENT  OF  THEIR WAGES OR SALARY DUE TO AN ACTION BY A PAYROLL SERVICE
COMPANY OR AN AUTOMATED CLEARING HOUSE PROCESSOR.
  (2) FOR PURPOSES OF THIS SUBSECTION, THE FOLLOWING  DEFINITIONS  SHALL
APPLY:
  (I)  "QUALIFIED  TAXPAYER"  SHALL  MEAN  A RESIDENT OF NEW YORK WITH A
FEDERAL ADJUSTED GROSS INCOME UP TO NINETY THOUSAND DOLLARS IF FILING AS
A SINGLE, HEAD OF HOUSEHOLD, OR QUALIFIED WIDOW(ER) FILER OR ONE HUNDRED
EIGHTY THOUSAND DOLLARS IF MARRIED FILING JOINTLY.
  (II) "ELIGIBLE LOSSES" SHALL MEAN ANY PENALTIES OR FEES  INCURRED  DUE
TO HAVING A LOSS OF WAGES OR SALARY DUE TO THE DELAY, WITHDRAWAL OR LOSS
OF A PAYCHECK OR PAYCHECKS DUE TO THE ACTIONS OF A PAYROLL COMPANY OR AN
AUTOMATED  CLEARING  HOUSE  PROCESSOR, INCLUDING BUT NOT LIMITED TO FEES
AND PENALTIES FOR AN OVERDRAWN BANK ACCOUNT,  LATE  RENT  PAYMENT,  LATE
LOAN PAYMENTS, OR OTHER LOSSES.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13815-02-0

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.