S T A T E O F N E W Y O R K
________________________________________________________________________
1991--A
2023-2024 Regular Sessions
I N A S S E M B L Y
January 23, 2023
___________
Introduced by M. of A. JOYNER, ALVAREZ, SEAWRIGHT -- read once and
referred to the Committee on Labor -- committee discharged, bill
amended, ordered reprinted as amended and recommitted to said commit-
tee
AN ACT to amend the tax law, in relation to creating a work opportunity
tax credit; and providing for the repeal of such provisions upon expi-
ration thereof
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 48 to read
as follows:
§ 48. WORK OPPORTUNITY TAX CREDIT. (A) GENERAL. A TAXPAYER SUBJECT TO
TAX UNDER ARTICLE NINE-A, TWENTY-TWO, OR THIRTY-THREE OF THIS CHAPTER
SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX IN AN AMOUNT EQUAL TO ONE
HUNDRED PERCENT OF THE CREDIT THAT IS ALLOWED TO THE TAXPAYER UNDER
SECTION 51 OF THE INTERNAL REVENUE CODE THAT IS ATTRIBUTABLE TO QUALI-
FIED WAGES PAID TO A NEW YORK RESIDENT WHO IS A MEMBER OF A TARGETED
GROUP AND FOR WHOM A CERTIFICATE TO THAT EFFECT HAS BEEN ISSUED BY THE
DEPARTMENT OF LABOR.
(B) DEFINITIONS. THE TERMS "QUALIFIED WAGES" AND "TARGETED GROUP"
SHALL HAVE THE SAME MEANINGS AS IN SECTION 51 OF THE INTERNAL REVENUE
CODE.
(C) EFFECT ON OTHER TAX CREDITS. WAGES WHICH ARE THE BASIS OF THE
CREDIT UNDER THIS SECTION MAY NOT BE USED AS THE BASIS FOR ANY OTHER
CREDIT ALLOWED UNDER THIS CHAPTER.
(D) LIMIT ON TAX CREDITS ISSUED. OVER THE LIFETIME OF THE TAX CREDIT,
THE TOTAL AMOUNT OF TAX CREDITS PROVIDED FOR UNDER THIS SECTION SHALL
NOT EXCEED THIRTY MILLION DOLLARS.
(E) 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 59;
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06643-05-3
A. 1991--A 2
(2) ARTICLE 22: SECTION 606, SUBSECTION (BBB);
(3) ARTICLE 33: SECTION 1511, SUBDIVISION (EE).
§ 2. Section 210-B of the tax law is amended by adding a new subdivi-
sion 59 to read as follows:
59. WORK OPPORTUNITY TAX CREDIT. (A) ALLOWANCE OF CREDIT. A TAXPAYER
SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION FORTY-
EIGHT OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE. SUCH
CREDIT MAY NOT EXCEED FIVE HUNDRED DOLLARS PER ELIGIBLE EMPLOYEE PER
YEAR IN ANY GIVEN TAX YEAR.
(B) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
FOR ANY TAXABLE YEAR MAY 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 THE
CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE
TAX TO SUCH AMOUNT OR IF THE TAXPAYER OTHERWISE PAYS TAX BASED ON THE
FIXED DOLLAR MINIMUM AMOUNT, ANY AMOUNT OF CREDIT THUS NOT DEDUCTIBLE IN
SUCH TAXABLE YEAR WILL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
ED IN ACCORDANCE WITH THE PROVISIONS OF SECTION ONE THOUSAND EIGHTY-SIX
OF THIS CHAPTER. PROVIDED, HOWEVER, THE PROVISIONS OF SUBSECTION (C) OF
SECTION ONE THOUSAND EIGHTY-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO
INTEREST SHALL BE PAID THEREON.
§ 3. Section 606 of the tax law is amended by adding a new subsection
(bbb) to read as follows:
(BBB) WORK OPPORTUNITY TAX CREDIT. (1) ALLOWANCE OF CREDIT. A TAXPAYER
SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION FORTY-
EIGHT OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE. SUCH
CREDIT MAY NOT EXCEED FIVE HUNDRED DOLLARS PER ELIGIBLE EMPLOYEE PER
YEAR IN ANY GIVEN TAX YEAR.
(2) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWED UNDER
THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR
SUCH YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE
CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION SIX
HUNDRED EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST
SHALL BE PAID THEREON.
§ 4. Section 1511 of the tax law is amended by adding a new subdivi-
sion (ee) to read as follows:
(EE) WORK OPPORTUNITY TAX CREDIT. (1) A TAXPAYER SHALL BE ALLOWED A
CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION FORTY-EIGHT OF THIS CHAP-
TER, AGAINST THE TAX IMPOSED BY THIS ARTICLE. SUCH CREDIT MAY NOT
EXCEED FIVE HUNDRED DOLLARS PER ELIGIBLE EMPLOYEE PER YEAR IN ANY GIVEN
TAX YEAR.
(2) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO BE LESS THAN THE MINIMUM
FIXED BY PARAGRAPH FOUR OF SUBDIVISION (A) OF SECTION FIFTEEN HUNDRED
TWO OR SECTION FIFTEEN HUNDRED TWO-A OF THIS ARTICLE, WHICHEVER IS
APPLICABLE. HOWEVER, IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS
SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE TAXPAYER'S TAX TO SUCH
AMOUNT, ANY AMOUNT OF CREDIT THUS NOT DEDUCTIBLE WILL BE TREATED AS AN
OVERPAYMENT OF TAX TO BE CREDITED IN ACCORDANCE WITH THE PROVISIONS OF
SECTION ONE THOUSAND EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER, THE
PROVISIONS OF SUBSECTION (C) OF SECTION ONE THOUSAND EIGHTY-EIGHT OF
THIS CHAPTER NOTWITHSTANDING, NO INTEREST SHALL BE PAID THEREON.
§ 5. This act shall take effect April 1, 2024 and shall apply to taxa-
ble years beginning on and after January 1, 2024 and shall apply to
wages paid to individuals hired on and after such effective date and
shall expire and be deemed repealed December 31, 2026.