NY State Senate Bill 2023-S4833A

Archive: Last Bill Status - In Senate Committee Finance 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

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Actions

View Actions

Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 21, 2024	reported and committed to finance
Mar 28, 2024	print number 4833b
Mar 28, 2024	amend and recommit to investigations and government operations
Jan 03, 2024	referred to investigations and government operations
Apr 25, 2023	reported and committed to finance
Feb 27, 2023	print number 4833a
Feb 27, 2023	amend and recommit to investigations and government operations
Feb 15, 2023	referred to investigations and government operations

Votes

- May 21, 2024 - Investigations And Government Operations Committee Vote
  S4833A
  
  Aye
  
  6
  
  Nay
  
  0
  
  Aye with Reservations
  
  1
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  
  0
  - - Investigations And Government Operations Committee Vote: May 21, 2024
      
      aye (6)
      
      Fernandez
      
      Gounardes
      
      Hoylman-Sigal
      
      Palumbo
      
      Sepúlveda
      
      Skoufis
      
      aye wr (1)
      
      O'Mara
  Apr 25, 2023 - Investigations And Government Operations Committee Vote
  S4833A
  
  Aye
  
  6
  
  Nay
  
  0
  
  Aye with Reservations
  
  1
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  
  0
  - - Investigations And Government Operations Committee Vote: Apr 25, 2023
      
      aye (6)
      
      Fernandez
      
      Gounardes
      
      Hoylman-Sigal
      
      Palumbo
      
      Sepúlveda
      
      Skoufis
      
      aye wr (1)
      
      O'Mara

Bill Amendments

Original

B (Active)

2023-S4833 - Details

Current Committee:: Senate Finance
Law Section:: Tax Law
Laws Affected:: Add §48, amd §§210-B, 606 & 1511, Tax L
Versions Introduced in Other Legislative Sessions:: 2021-2022: S8463
2025-2026: S2429

2023-S4833 - Summary

Creates a work opportunity tax credit.

2023-S4833 - Sponsor Memo

                                 
BILL NUMBER: S4833

SPONSOR: SKOUFIS
 
TITLE OF BILL:

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 expira-
tion thereof

 
PURPOSE OR GENERAL IDEA OF BILL:

This bill would establish in New York State law a Worker Opportunity Tax
Credit similar to the existing federal tax credit.

 
SUMMARY OF PROVISIONS:

Section one adds a new section 47 to the tax law establishing a Worker
Opportunity Tax Credit, details the additional sections of the tax law
affected, and specifies to whom the tax credit would apply.  Section one
also establishes that the total amount of tax credits provided not
exceed thirty million dollars.

Section two adds a new subdivision 58 to section 210-8 of the tax law
detailing the allowance and application of the Worker Opportunity Tax
Credit therein, also clarifies it shall not exceed more than $500 per
individual in a tax year and is not refundable.

Section three adds a new subdivision "bbb" to section 606 of the tax law
detailing the allowance and application of the Worker Opportunity Tax
Credit therein, also clarifies it shall not exceed more than $500 per
individual in a tax year and is not refundable.

Section four adds a new subdivision "cc" to section 1511 of the tax law
detailing the allowance and application of the Worker Opportunity Tax
Credit therein, also clarifies it shall not exceed more than $500 per
individual in a tax year and is not refundable.

Section five establishes the effective date and sets the expiration
date.

 
JUSTIFICATION:

The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available
to employers for hiring individuals from certain targeted groups that
have consistently faced significant barriers to employment. Data shows
that New York underutilizes the federal Worker Opportunity Tax Credit
incentive program. New York's ratio of WOTC-certified employees to popu-
lations is the lowest of the 18 states with the largest number of WOTC
certified employees.

The WOTC may be claimed by any employer that hires and pays or incurs
wages to certain individuals who are certified by a designated local
agency as being a member of one of 10 targeted groups and

* is in their first year of employment;

* is certified as being a member of a targeted group; and

* performs at least 400 hours of services for that employer.
The targeted groups include, Qualified IV-A Recipient, qualified Veter-
an, Ex-Felon, Designated Community Resident, Vocational Rehabilitation
Referral, Summer Youth Employee, SNAP recipient. SSI Recipient, Long
Term Family Assistance Recipient, Qualified Long-Term Unemployment
Recipient.

 
LEGISLATIVE HISTORY:

Senate

2021-2022: S84638, Amended and recommitted to Investigations and Govern-
ment Operations

Assembly

2021-2022: A9171A, Amended and recommitted to Ways and Means

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect on April 1, 2024 and shall apply to taxable
years beginning on and after January 1, 2024 and shall apply to wages
paid to individuals hired on an after such effective date.

2023-S4833 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4833
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 15, 2023
                                ___________
 
 Introduced  by  Sen. SKOUFIS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations
 
 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;
   (2) ARTICLE 22: SECTION 606, SUBSECTION (BBB);
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06643-02-3

 S. 4833                             2
 
   (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 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 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 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.

co-Sponsors

2023-S4833A - Details

Current Committee:: Senate Finance
Law Section:: Tax Law
Laws Affected:: Add §48, amd §§210-B, 606 & 1511, Tax L
Versions Introduced in Other Legislative Sessions:: 2021-2022: S8463
2025-2026: S2429

2023-S4833A - Summary

Creates a work opportunity tax credit.

2023-S4833A - Sponsor Memo

                                 
BILL NUMBER: S4833A

SPONSOR: SKOUFIS
 
TITLE OF BILL:

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 expira-
tion thereof

 
PURPOSE OR GENERAL IDEA OF BILL:

This bill would establish in New York State law a Worker Opportunity Tax
Credit similar to the existing federal tax credit.

 
SUMMARY OF PROVISIONS:

Section one adds a new section 47 to the tax law establishing a Worker
Opportunity Tax Credit, details the additional sections of the tax law
affected, and specifies to whom the tax credit would apply.  Section one
also establishes that the total amount of tax credits provided not
exceed thirty million dollars.

Section two adds a new subdivision 58 to section 210-B of the tax law
detailing the allowance and application of the Worker Opportunity Tax
Credit therein, also clarifies it shall not exceed more than $500 per
employee per year in a tax year and is not refundable.

Section three adds a new subdivision "bbb" to section 606 of the tax law
detailing the allowance and application of the Worker Opportunity Tax
Credit therein, also clarifies it shall not exceed more than $500 per
employee per year in a tax year and is not refundable.

Section four adds a new subdivision "cc" to section 1511 of the tax law
detailing the allowance and application of the Worker Opportunity Tax
Credit therein, also clarifies it shall not exceed more than $500 per
employee per year in a tax year and is not refundable.

Section five establishes the effective date and sets the expiration
date.

 
JUSTIFICATION:

The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available
to employers for hiring individuals from certain targeted groups that
have consistently faced significant barriers to employment. Data shows
that New York underutilizes the federal Worker Opportunity Tax Credit
incentive program. New York's ratio of WOTC-certified employees to popu-
lations is the lowest of the 18 states with the largest number of WOTC
certified employees.

The WOTC may be claimed by any employer that hires and pays or incurs
wages to certain individuals who are certified by a designated local
agency as being a member of one of 10 targeted groups and

* is in their first year of employment;

* is certified as being a member of a targeted group; and

* performs at least 400 hours of services for that employer.
The targeted groups include, Qualified IV-A Recipient, qualified Veter-
an, Ex-Felon, Designated Community Resident, Vocational Rehabilitation
Referral, Summer Youth Employee, SNAP recipient. SSI Recipient, Long
Term Family Assistance Recipient, Qualified Long-Term Unemployment
Recipient.

 
LEGISLATIVE HISTORY:

Senate

2021-2022: S8463B, Amended and recommitted to Investigations and Govern-
ment Operations

Assembly

2021-2022: A9171A, Amended and recommitted to Ways and Means

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect on April 1, 2024 and shall apply to taxable
years beginning on and after January 1, 2024 and shall apply to wages
paid to individuals hired on an after such effective date.

2023-S4833A - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4833--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 15, 2023
                                ___________
 
 Introduced  by  Sen. SKOUFIS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment  Operations  --  committee  discharged,  bill  amended,   ordered
   reprinted as amended and recommitted to said committee
 
 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.
                                                            LBD06643-04-3

 S. 4833--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.

co-Sponsors

2023-S4833B (ACTIVE) - Details

Current Committee:: Senate Finance
Law Section:: Tax Law
Laws Affected:: Add §48, amd §§210-B, 606 & 1511, Tax L
Versions Introduced in Other Legislative Sessions:: 2021-2022: S8463
2025-2026: S2429

2023-S4833B (ACTIVE) - Summary

Creates a work opportunity tax credit.

2023-S4833B (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S4833B

SPONSOR: SKOUFIS
 
TITLE OF BILL:

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 expira-
tion thereof

 
PURPOSE OR GENERAL IDEA OF BILL:

This bill would establish in New York State law a Worker Opportunity Tax
Credit similar to the existing federal tax credit.

 
SUMMARY OF PROVISIONS:

Section 1 adds a new section 48 to the tax law establishing a Worker
Opportunity Tax Credit, details the additional sections of the tax law
affected, and specifies to whom the tax credit would apply.

Section one also establishes that the total amount of tax credits
provided not exceed thirty million dollars.

Section 2 adds a new subdivision 59 to section 210-B of the tax law
detailing the allowance and application of the Worker Opportunity Tax
Credit therein, also clarifies it shall not exceed more than $500 per
employee per year in a tax year and is not refundable.

Section 3 adds a new subdivision "bbb" to section 606 of the tax law
detailing the allowance and application of the Worker Opportunity Tax
Credit therein, also clarifies it shall not exceed more than $500 per
employee per year in a tax year and is not refundable.

Section 4 adds a new subdivision "cc" to section 1511 of the tax law
detailing the allowance and application of the Worker Opportunity Tax
Credit therein, also clarifies it shall not exceed more than $500 per
employee per year in a tax year and is not refundable.

Section 5 establishes the effective date and sets the expiration date.

 
JUSTIFICATION:

The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available
to employers for hiring individuals from certain targeted groups that
have consistently faced significant barriers to employment. Data shows
that New York underutilizes the federal Worker Opportunity Tax Credit
incentive program. New York's ratio of WOTC-certified employees to popu-
lations is the lowest of the 18 states with the largest number of WOTC
certified employees.

The WOTC may be claimed by any employer that hires and pays or incurs
wages to certain individuals who are certified by a designated local
agency as being a member of one of 10 targeted groups and

*is in their first year of employment;

*is certified as being a member of a targeted group; and

*performs at least 400 hours of services for that employer.
The targeted groups include, Qualified IV-A Recipient, qualified Veter-
an, Ex-Felon, Designated Community Resident, Vocational Rehabilitation
Referral, Summer Youth Employee, SNAP recipient. SSI Recipient, Long
Term Family Assistance Recipient, Qualified Long-Term Unemployment
Recipient.

 
LEGISLATIVE HISTORY:

Senate

2021-2022: S8463B, Amended and recommitted to Investigations and Govern-
ment Operations

Assembly

2021-2022: A9171A, Amended and recommitted to Ways and Means

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect on April 1, 2025 and shall apply to taxable
years beginning on and after January 1, 2025 and shall apply to wages
paid to individuals hired on an after such effective date and shall
expire and be deemed repealed December 31, 2027.

2023-S4833B (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4833--B
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 15, 2023
                                ___________
 
 Introduced  by  Sens.  SKOUFIS, CHU, GOUNARDES -- read twice and ordered
   printed, and when printed to be committed to the Committee on Investi-
   gations  and  Government  Operations  --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee -- recommitted to the Committee on Investigations  and  Government
   Operations  in  accordance  with  Senate  Rule  6, sec. 8 -- committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 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 49  to  read
 as follows:
   §  49. 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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06643-07-4
 S. 4833--B                          2

   (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 60;
   (2) ARTICLE 22: SECTION 606, SUBSECTION (BBB);
   (3) ARTICLE 33: SECTION 1511, SUBDIVISION (FF).
   § 2. Section 210-B of the tax law is amended by adding a new  subdivi-
 sion 60 to read as follows:
   60.  WORK  OPPORTUNITY TAX CREDIT. (A) ALLOWANCE OF CREDIT. A TAXPAYER
 SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION  FORTY-
 NINE  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-
 NINE 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 (ff) to read as follows:
   (FF) WORK OPPORTUNITY TAX CREDIT. (1) ALLOWANCE OF CREDIT.  A TAXPAYER
 SHALL  BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION FORTY-
 NINE 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. 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
 S. 4833--B                          3
 
 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, 2025 and shall apply to taxa-
 ble  years  beginning  on  and  after January 1, 2025 and shall apply to
 wages paid to individuals hired on and after  such  effective  date  and
 shall expire and be deemed repealed December 31, 2027.

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Senate Bill S4833A

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Archive: Last Bill Status - In Senate Committee Finance Committee

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May 21, 2024 - Investigations And Government Operations Committee Vote

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Apr 25, 2023 - Investigations And Government Operations Committee Vote

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Sponsored By

James Skoufis

Archive: Last Bill Status - In Senate Committee Finance Committee

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2023-S4833 - Details

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co-Sponsors

Iwen Chu

Andrew Gounardes

2023-S4833A - Details

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co-Sponsors

Iwen Chu

Andrew Gounardes

Brad Hoylman-Sigal

Robert Jackson

2023-S4833B (ACTIVE) - Details

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