assembly Bill A3695

2023-2024 Legislative Session

Establishes a small business tax credit for certain efforts taken to improve such small business's facility in an effort to reduce the spread of infectious diseases

download bill text pdf

Sponsored By

Current Bill Status - In Assembly 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 07, 2023 referred to ways and means

Co-Sponsors

A3695 (ACTIVE) - Details

See Senate Version of this Bill:
S4301
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: A10543
2021-2022: A3566, S4680

A3695 (ACTIVE) - Summary

Establishes a small business tax credit for certain efforts taken to improve such small business's facility in an effort to reduce the spread of infectious diseases.

A3695 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3695
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 7, 2023
                                ___________
 
 Introduced  by M. of A. BENDETT -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN ACT to amend the tax law, in relation to establishing a  small  busi-
   ness  tax credit for certain efforts taken to improve such small busi-
   ness's facility in an  effort  to  reduce  the  spread  of  infectious
   diseases

   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.  SMALL  BUSINESS  TAX  CREDIT; INFECTIOUS DISEASE MITIGATION.  (A)
 GENERAL. A TAXPAYER THAT IS A SMALL BUSINESS SHALL BE ALLOWED A  CREDIT,
 TO  BE COMPUTED AS PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED
 BY THIS ARTICLE FOR EFFORTS TAKEN TO IMPROVE SUCH TAXPAYER'S FACILITY IN
 AN EFFORT TO REDUCE THE SPREAD OF INFECTIOUS DISEASES.
   (B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY  THIS  SECTION  SHALL  BE
 EQUAL TO THE AMOUNT OF MONEY SPENT BY AN ELIGIBLE TAXPAYER TO CONSTRUCT,
 INSTALL, BUILD, AND/OR EQUIP SUCH TAXPAYER'S FACILITY WITH NEW AMENITIES
 PRIMARILY  INTENDED  TO  REDUCE  THE  SPREAD OF INFECTIOUS DISEASES, BUT
 SHALL NOT EXCEED FIVE THOUSAND DOLLARS TOTAL  FOR  EACH  LOCATION  WHERE
 SUCH  NEW  AMENITIES  HAVE  BEEN  CONSTRUCTED,  INSTALLED, BUILT, AND/OR
 EQUIPPED.
   (C) 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. HOWEVER, IF THE AMOUNT OF CREDIT  ALLOWABLE
 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 NOT DEDUCTIBLE IN SUCH TAXABLE YEAR
 MAY  BE  CARRIED  OVER TO THE FOLLOWING THREE YEARS, AND MAY BE DEDUCTED
 FROM THE QUALIFIED EMPLOYER'S TAX FOR SUCH YEARS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07675-01-3