Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 |
referred to budget and revenue |
Feb 03, 2021 |
referred to budget and revenue |
Senate Bill S4374
2021-2022 Legislative Session
Sponsored By
(R, C) Senate District
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
Actions
co-Sponsors
(R) Senate District
2021-S4374 (ACTIVE) - Details
- Current Committee:
- Senate Budget And Revenue
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§210-B & 606, Tax L
2021-S4374 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4374 SPONSOR: MARTUCCI TITLE OF BILL: An act to amend the tax law, in relation to an income tax credit for costs associated with implementing and complying with the farm laborers fair labor practices act PURPOSE OF BILL: To ensure fair treatment for our State's farmers struggling with the increased costs imposed by the farm laborers fair labor practices act. SUMMARY OF SPECIFIC PROVISIONS: Section 1- Describes the implementation and applications of the credit as well as the calculation of costs and carryovers Section 2- Makes conforming changes to 606 subsection (i) paragraph 1 of subparagraph B of the tax law
2021-S4374 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4374 2021-2022 Regular Sessions I N S E N A T E February 3, 2021 ___________ Introduced by Sen. MARTUCCI -- 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 an income tax credit for costs associated with implementing and complying with the farm labor- ers fair labor practices act 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. FARM LABOR FAIR LABOR PRACTICES TAX CREDIT. (A) GENERAL. A TAXPAY- ER WHO IS AN AGRICULTURAL EMPLOYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE COSTS ASSOCIATED WITH IMPLEMENTING AND COMPLYING WITH THE PROVISIONS OF THE FARM LABORERS FAIR LABOR PRACTICES ACT. (B) AMOUNT OF CREDIT. THE AMOUNT OF THE CREDIT AUTHORIZED BY THIS SUBDIVISION SHALL BE EQUAL TO ONE HUNDRED PERCENT OF THE INCREASED COSTS INCURRED BY THE AGRICULTURAL EMPLOYER INCLUDING, BUT NOT LIMITED TO, COMPLIANCE WITH FARM LABOR WAGE AND OVERTIME MANDATES, COLLECTIVE BARGAINING PROVISIONS AND WORKERS' COMPENSATION REQUIREMENTS WHICH RESULT FROM THE MANDATES OF THE FARM LABORERS FAIR LABOR PRACTICES ACT. (C) CARRYOVERS. THE CREDIT ALLOWED UNDER THIS SUBDIVISION MAY BE CLAIMED AND IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH THE CREDIT IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO. § 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 of the tax law is amended by adding a new clause (xlvi) to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07010-01-1
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