S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2382
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 26, 2023
                                ___________
 
 Introduced  by  M.  of A. ANGELINO, BRABENEC, LEMONDES, MANKTELOW, McDO-
   NOUGH, MILLER, MORINELLO, NORRIS, TAGUE -- read once and  referred  to
   the Committee on Ways and Means
 
 AN  ACT  to  amend the tax law, in relation to establishing a credit for
   developing a college to work program

   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 59 to read as follows:
   59. CREDIT FOR COLLEGE TO WORK PROGRAM. (A)  ALLOWANCE  OF  CREDIT.  A
 TAXPAYER  SHALL  BE  ALLOWED  A  CREDIT,  TO  BE COMPUTED AS HEREINAFTER
 PROVIDED, AGAINST THE TAX  IMPOSED  BY  THIS  ARTICLE,  BASED  UPON  ITS
 PAYMENT OF TUITION TO AN INSTITUTION OF HIGHER EDUCATION ON BEHALF OF AN
 INDIVIDUAL  IN  EXCHANGE  FOR  THE  INDIVIDUAL  AGREEING TO WORK FOR THE
 TAXPAYER FOR A NUMBER OF YEARS, AS SET  FORTH  IN  A  WRITTEN  AGREEMENT
 BETWEEN THE TAXPAYER AND THE INDIVIDUAL.
   (B) TUITION. FOR THE PURPOSES OF THIS CREDIT, THE TERM "TUITION" SHALL
 MEAN  THE  TUITION AND FEES PAID FOR THE ENROLLMENT AND ATTENDANCE OF AN
 INDIVIDUAL AT AN INSTITUTION OF HIGHER EDUCATION, AS WELL AS MONIES PAID
 FOR TEXTBOOKS IN CONNECTION WITH ATTENDANCE AT AN INSTITUTION OF  HIGHER
 EDUCATION.    PROVIDED, HOWEVER, ANY AMOUNTS WHICH HAVE BEEN PAID FOR OR
 REIMBURSED BY ANY  OTHER  SCHOLARSHIPS  OR  FINANCIAL  AID,  OR  TUITION
 REQUIRED  FOR  ENROLLMENT  OR ATTENDANCE IN A COURSE OF STUDY LEADING TO
 THE GRANTING OF A POST BACCALAUREATE OR OTHER GRADUATE DEGREE, SHALL  BE
 EXCLUDED FROM THE DEFINITION OF "TUITION".
   (C)  INSTITUTION OF HIGHER EDUCATION. FOR THE PURPOSES OF THIS CREDIT,
 THE TERM "INSTITUTION OF HIGHER EDUCATION" SHALL MEAN ANY INSTITUTION OF
 HIGHER EDUCATION, RECOGNIZED AND APPROVED BY THE REGENTS, OR ANY SUCCES-
 SOR ORGANIZATION, OF THE UNIVERSITY OF THE STATE OF NEW YORK OR  ACCRED-
 ITED  BY  A  NATIONALLY  RECOGNIZED  ACCREDITING  AGENCY  OR ASSOCIATION
 ACCEPTED AS SUCH BY THE REGENTS, OR ANY SUCCESSOR ORGANIZATION,  OF  THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06468-01-3
              

 A. 2382                             2
 
 UNIVERSITY  OF  THE  STATE OF NEW YORK, WHICH PROVIDES A COURSE OF STUDY
 LEADING TO THE GRANTING  OF  A  POST-SECONDARY  DEGREE,  CERTIFICATE  OR
 DIPLOMA.
   (D) QUALIFIED INDIVIDUAL. FOR PURPOSES OF THIS CREDIT, THE TERM "QUAL-
 IFIED  INDIVIDUAL"  SHALL MEAN ANY INDIVIDUAL WHO IS NOT A SPOUSE, CHILD
 OR DEPENDENT OF THE TAXPAYER OR ANY INDIVIDUAL  WHO  IS  NOT  A  SPOUSE,
 CHILD OR DEPENDENT OF ANY OFFICER OR EMPLOYEE OF THE TAXPAYER.
   (E) WRITTEN AGREEMENT.  FOR PURPOSES OF THIS CREDIT, THE TERM "WRITTEN
 AGREEMENT"  SHALL  MEAN A DOCUMENT SIGNED AND DATED BY BOTH THE TAXPAYER
 AND THE QUALIFIED INDIVIDUAL WHICH CONTAINS PROVISIONS INCLUDING BUT NOT
 LIMITED TO THE MINIMUM SALARY WHICH THE TAXPAYER WILL PAY TO THE  QUALI-
 FIED INDIVIDUAL UPON COMPLETION OF THE INDIVIDUAL'S DEGREE; THE REQUIRED
 DURATION  OF  EMPLOYMENT UPON COMPLETION OF THE INDIVIDUAL'S DEGREE; AND
 THE PARTIES' RESPECTIVE RESPONSIBILITIES IN THE EVENT THAT THE  TAXPAYER
 CEASES  OPERATIONS OR LATER DECIDES NOT TO OFFER EMPLOYMENT TO THE INDI-
 VIDUAL UPON COMPLETION OF HIS/HER DEGREE OR IN THE EVENT THAT THE QUALI-
 FIED INDIVIDUAL FAILS TO COMPLETE THE DEGREE OR TO WORK FOR THE TAXPAYER
 FOR THE AGREED UPON TERM.
   (F) AMOUNT OF CREDIT. NOTWITHSTANDING THE PROVISIONS OF ANY OTHER LAW,
 A TAXPAYER WHICH PROVIDES FOR THE PAYMENT  OF  AN  INDIVIDUAL'S  TUITION
 UNDER THE COLLEGE TO WORK PROGRAM ESTABLISHED BY THIS SUBDIVISION, SHALL
 BE  ALLOWED  A  CREDIT  AGAINST  THE TAX IMPOSED BY THIS ARTICLE, TO THE
 EXTENT OF TWENTY-FIVE PERCENT  OF  MONIES  PAID  FOR  EACH  INDIVIDUAL'S
 TUITION,  BUT SUCH CREDIT SHALL NOT EXCEED FIVE THOUSAND DOLLARS FOR ONE
 YEAR FOR EACH SUCH QUALIFIED INDIVIDUAL.
   (G) CARRYOVER. THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXA-
 BLE 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.  PROVIDED, HOWEVER, IF THE AMOUNT OF CREDIT
 ALLOWABLE UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE TAX TO
 SUCH AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN  SUCH  TAXABLE  YEAR
 MAY  BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS, AND MAY BE DEDUCTED
 FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
   § 2. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
 of the tax law is amended by adding a new clause (l) to read as follows:

 (L) COLLEGE TO WORK PROGRAM          AMOUNT OF CREDIT UNDER
 CREDIT UNDER SUBSECTION (S-1)        SUBDIVISION FIFTY-NINE
                                      OF SECTION TWO HUNDRED TEN-B
 
   §  3. Section 606 of the tax law is amended by adding a new subsection
 (s-1) to read as follows:
   (S-1) CREDIT FOR COLLEGE TO WORK PROGRAM. (1) ALLOWANCE OF  CREDIT.  A
 TAXPAYER  SHALL  BE  ALLOWED  A  CREDIT,  TO  BE COMPUTED AS HEREINAFTER
 PROVIDED, AGAINST THE TAX IMPOSED  BY  THIS  ARTICLE,  BASED  UPON  SUCH
 TAXPAYER'S  PAYMENT  OF TUITION TO AN INSTITUTION OF HIGHER EDUCATION ON
 BEHALF OF AN INDIVIDUAL IN EXCHANGE FOR THE INDIVIDUAL AGREEING TO  WORK
 FOR THE TAXPAYER FOR A NUMBER OF YEARS, AS SET FORTH IN A WRITTEN AGREE-
 MENT BETWEEN THE TAXPAYER AND THE INDIVIDUAL.
   (2) TUITION. FOR THE PURPOSES OF THIS CREDIT, THE TERM "TUITION" SHALL
 MEAN  THE  TUITION AND FEES PAID FOR THE ENROLLMENT AND ATTENDANCE OF AN
 INDIVIDUAL AT AN INSTITUTION OF HIGHER EDUCATION, AS WELL AS MONIES PAID
 FOR TEXTBOOKS IN CONNECTION WITH ATTENDANCE AT AN INSTITUTION OF  HIGHER
 EDUCATION.  PROVIDED,  HOWEVER,  ANY AMOUNTS WHICH HAVE BEEN PAID FOR OR
 REIMBURSED BY ANY  OTHER  SCHOLARSHIPS  OR  FINANCIAL  AID,  OR  TUITION
 REQUIRED  FOR  ENROLLMENT  OR ATTENDANCE IN A COURSE OF STUDY LEADING TO
 A. 2382                             3
 
 THE GRANTING OF A POST BACCALAUREATE OR OTHER GRADUATE DEGREE, SHALL  BE
 EXCLUDED FROM THE DEFINITION OF "TUITION".
   (3)  INSTITUTION OF HIGHER EDUCATION. FOR THE PURPOSES OF THIS CREDIT,
 THE TERM "INSTITUTION OF HIGHER EDUCATION" SHALL MEAN ANY INSTITUTION OF
 HIGHER EDUCATION, RECOGNIZED AND APPROVED BY THE REGENTS, OR ANY SUCCES-
 SOR ORGANIZATION, OF THE UNIVERSITY OF THE STATE OF NEW YORK OR  ACCRED-
 ITED  BY  A  NATIONALLY  RECOGNIZED  ACCREDITING  AGENCY  OR ASSOCIATION
 ACCEPTED AS SUCH BY THE REGENTS, OR ANY SUCCESSOR ORGANIZATION,  OF  THE
 UNIVERSITY  OF  THE  STATE OF NEW YORK, WHICH PROVIDES A COURSE OF STUDY
 LEADING TO THE GRANTING  OF  A  POST-SECONDARY  DEGREE,  CERTIFICATE  OR
 DIPLOMA.
   (4) QUALIFIED INDIVIDUAL. FOR PURPOSES OF THIS CREDIT, THE TERM "QUAL-
 IFIED  INDIVIDUAL"  SHALL MEAN ANY INDIVIDUAL WHO IS NOT A SPOUSE, CHILD
 OR DEPENDENT OF THE TAXPAYER OR ANY INDIVIDUAL  WHO  IS  NOT  A  SPOUSE,
 CHILD OR DEPENDENT OF ANY OFFICER OR EMPLOYEE OF THE TAXPAYER.
   (5)  WRITTEN AGREEMENT. FOR PURPOSES OF THIS CREDIT, THE TERM "WRITTEN
 AGREEMENT" SHALL MEAN A DOCUMENT SIGNED AND DATED BY BOTH  THE  TAXPAYER
 AND THE QUALIFIED INDIVIDUAL WHICH CONTAINS PROVISIONS INCLUDING BUT NOT
 LIMITED  TO THE MINIMUM SALARY WHICH THE TAXPAYER WILL PAY TO THE QUALI-
 FIED INDIVIDUAL UPON COMPLETION OF THE INDIVIDUAL'S DEGREE; THE REQUIRED
 DURATION OF EMPLOYMENT UPON COMPLETION OF THE INDIVIDUAL'S  DEGREE;  AND
 THE  PARTIES' RESPECTIVE RESPONSIBILITIES IN THE EVENT THAT THE TAXPAYER
 CEASES OPERATIONS OR LATER DECIDES NOT TO OFFER EMPLOYMENT TO THE  INDI-
 VIDUAL UPON COMPLETION OF HIS/HER DEGREE OR IN THE EVENT THAT THE QUALI-
 FIED INDIVIDUAL FAILS TO COMPLETE THE DEGREE OR TO WORK FOR THE TAXPAYER
 FOR THE AGREED UPON TERM.
   (6) AMOUNT OF CREDIT. NOTWITHSTANDING THE PROVISIONS OF ANY OTHER LAW,
 A TAXPAYER WHO PROVIDES FOR THE PAYMENT OF AN INDIVIDUAL'S TUITION UNDER
 THE  COLLEGE  TO  WORK  PROGRAM ESTABLISHED BY THIS SUBSECTION, SHALL BE
 ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE, TO THE  EXTENT
 OF TWENTY-FIVE PERCENT OF MONIES PAID FOR EACH INDIVIDUAL'S TUITION, BUT
 SUCH CREDIT SHALL NOT EXCEED FIVE THOUSAND DOLLARS FOR ONE YEAR FOR EACH
 SUCH QUALIFIED INDIVIDUAL.
   (7) CARRYOVER. IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBSECTION
 FOR  ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX AMOUNT, ANY AMOUNT
 OF THE EXCESS MAY BE CARRIED OVER TO THE FOLLOWING YEAR  OR  YEARS,  AND
 MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
   §  4.  This  act  shall take effect immediately and shall apply to all
 taxable years commencing after January 1, 2023.