senate Bill S5141

2021-2022 Legislative Session

Creates a jobs development incentive income tax credit available to employers who employ individuals previously receiving unemployment

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Sponsored By

Current Bill Status - In Senate Committee Budget And Revenue Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 25, 2021 referred to budget and revenue

Co-Sponsors

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S5141 (ACTIVE) - Details

Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: S5264
2011-2012: S3999
2013-2014: S2117
2015-2016: S3701
2017-2018: S3783
2019-2020: S4857

S5141 (ACTIVE) - Summary

Creates a job development incentive income tax credit available to employers who employ individuals previously receiving unemployment.

S5141 (ACTIVE) - Sponsor Memo

S5141 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5141
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 25, 2021
                                ___________
 
 Introduced  by  Sen.  RATH  --  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 a jobs development incentive
   income tax credit available to employers who employ individuals previ-
   ously receiving unemployment benefits

   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. JOBS DEVELOPMENT INCENTIVE TAX CREDIT. (A)  A  TAXPAYER  SHALL  BE
 ALLOWED  A  CREDIT,  TO BE COMPUTED AS HEREINAFTER PROVIDED, AGAINST THE
 TAX IMPOSED BY THIS ARTICLE IN THE AMOUNT PRESCRIBED BY THIS SUBDIVISION
 WHERE SUCH TAXPAYER EMPLOYS ONE OR MORE CREDITABLE EMPLOYEE.
   (B) THE AMOUNT OF THE  CREDIT  SHALL  BE  TWO  THOUSAND  FOUR  HUNDRED
 DOLLARS FOR EACH CREDITABLE EMPLOYEE.
   (C)  FOR THE PURPOSES OF THIS SUBDIVISION, "CREDITABLE EMPLOYEE" SHALL
 MEAN A NEW EMPLOYEE OF AN EMPLOYER WHO:
   (I) IS EMPLOYED BY THE EMPLOYER FOR THE FIRST TIME  ON  OR  AFTER  THE
 EFFECTIVE DATE OF THIS SUBDIVISION;
   (II) HAS FILED A CLAIM FOR UNEMPLOYMENT COMPENSATION IN THIS STATE;
   (III)  HAS  RECEIVED  UNEMPLOYMENT BENEFITS IN THIS STATE FOR AT LEAST
 TWO MONTHS;
   (IV) IS CURRENTLY RECEIVING UNEMPLOYMENT COMPENSATION BENEFITS  AS  OF
 THE DATE OF EMPLOYMENT; AND
   (V)  SUCH  BENEFITS ARE CHARGEABLE TO THE EXPERIENCE RATING ACCOUNT OF
 AN EMPLOYER UNDER THIS ARTICLE; OR
   (VI) HAS SUCCESSFULLY COMPLETED A TRAINING PROGRAM PURSUANT TO SECTION
 FIVE HUNDRED NINETY-NINE OF THE LABOR LAW; AND
   (VII) PERFORMS SERVICES IN ACCORDANCE WITH  SUBDIVISION  ONE,  TWO  OR
 FOUR OF SECTION FIVE HUNDRED ELEVEN OF THE LABOR LAW;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10033-01-1

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