Assembly Bill A2958A

2023-2024 Legislative Session

Provides a payroll tax credit for compensation of journalists; and to provide for the repeal of such provisions

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Sponsored By

Current Bill Status - In Assembly 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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Bill Amendments

co-Sponsors

2023-A2958 - Details

See Senate Version of this Bill:
S625
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§606 & 210-B, add §24-d, Tax L
Versions Introduced in 2021-2022 Legislative Session:
A8585, S7544

2023-A2958 - Summary

Provides a payroll tax credit for compensation of journalists; provides for the repeal of such provisions upon the expiration thereof.

2023-A2958 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2958
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 1, 2023
                                ___________
 
 Introduced  by M. of A. WOERNER, SAYEGH -- read once and referred to the
   Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to providing a tax  credit  for
   the  cost  of  subscriptions  that  support local newspapers and other
   local media and a payroll tax credit for compensation of  journalists;
   and to provide for the repeal of such provisions upon expiration ther-
   eof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. This act shall be known and may  be  cited  as  the  "local
 journalism sustainability act".
   §  2. Section 606 of the tax law is amended by adding a new subsection
 (bbb) to read as follows:
   (BBB) CREDIT FOR QUALIFYING PUBLICATION SUBSCRIPTIONS.  (1)  ALLOWANCE
 OF  CREDIT.   FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO
 THOUSAND TWENTY-FOUR, A CREDIT FOR QUALIFYING PUBLICATION  SUBSCRIPTIONS
 SHALL  BE  ALLOWED TO A RESIDENT INDIVIDUAL OF THE STATE AGAINST THE TAX
 IMPOSED BY THIS ARTICLE IN AN AMOUNT EQUAL TO THE APPLICABLE  PERCENTAGE
 OF  AMOUNTS PAID OR INCURRED FOR SUBSCRIPTIONS TO ONE OR MORE QUALIFYING
 PUBLICATIONS FOR THE PERSONAL USE OF THE TAXPAYER.
   (2) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER PARAGRAPH  ONE  OF
 THIS  SUBSECTION  TO  ANY TAXPAYER FOR ANY TAXABLE YEAR SHALL NOT EXCEED
 TWO HUNDRED FIFTY DOLLARS PER TAX YEAR  AND  SHALL  BE  SUBJECT  TO  THE
 APPLICABLE PERCENTAGES DESCRIBED IN THIS SUBSECTION.
   (3) DEFINITIONS. AS USED IN THIS SUBSECTION, THE FOLLOWING TERMS SHALL
 HAVE THE FOLLOWING MEANINGS:
   (A)  "APPLICABLE  PERCENTAGE"  MEANS: (I) IN THE FIRST TAXABLE YEAR TO
 WHICH THIS SECTION APPLIES, EIGHTY PERCENT OF  THE  TOTAL  COST  OF  THE
 SUBSCRIPTION  OR SUBSCRIPTIONS, AND (II) IN ANY SUBSEQUENT TAXABLE YEAR,
 FIFTY PERCENT OF THE TOTAL COST OF THE SUBSCRIPTION OR SUBSCRIPTIONS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02644-01-3
 A. 2958                             2
              

co-Sponsors

multi-Sponsors

2023-A2958A - Details

See Senate Version of this Bill:
S625
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§606 & 210-B, add §24-d, Tax L
Versions Introduced in 2021-2022 Legislative Session:
A8585, S7544

2023-A2958A - Summary

Provides a payroll tax credit for compensation of journalists; provides for the repeal of such provisions upon the expiration thereof.

2023-A2958A - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  2958--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 1, 2023
                                ___________
 
 Introduced  by  M.  of  A.  WOERNER,  SAYEGH,  BURDICK  -- read once and
   referred to the Committee on Ways and Means --  committee  discharged,
   bill  amended,  ordered  reprinted  as amended and recommitted to said
   committee
 
 AN ACT to amend the tax law, in relation  to  providing  a  payroll  tax
   credit  for compensation of journalists; and to provide for the repeal
   of such provisions upon expiration thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  This  act  shall  be known and may be cited as the "local
 journalism sustainability act".
   § 2. The tax law is amended by adding a new section 24-d  to  read  as
 follows:
   §  24-D. PAYROLL CREDIT FOR COMPENSATION OF JOURNALISTS. (A) IN GENER-
 AL.  AN ELIGIBLE NEWS JOURNALIST EMPLOYER WHICH IS SUBJECT TO TAX  UNDER
 ARTICLE  NINE-A  OR TWENTY-TWO OF THIS CHAPTER SHALL BE ALLOWED A CREDIT
 AGAINST SUCH TAX, TO BE COMPUTED AS PROVIDED IN THIS SECTION,  FOR  EACH
 CALENDAR  QUARTER  AN AMOUNT EQUAL TO THE APPLICABLE PERCENTAGE OF WAGES
 PAID BY SUCH EMPLOYER TO NEWS JOURNALISTS FOR SUCH CALENDAR QUARTER.
   (B) LIMITATIONS.  (1) THE AMOUNT OF WAGES PAID  WITH  RESPECT  TO  ANY
 INDIVIDUAL WHICH MAY BE TAKEN INTO ACCOUNT UNDER SUBDIVISION (A) OF THIS
 SECTION  DURING  ANY  CALENDAR  QUARTER  BY THE ELIGIBLE NEWS JOURNALIST
 EMPLOYER SHALL NOT EXCEED TWELVE THOUSAND FIVE HUNDRED  DOLLARS.  CREDIT
 IS  ALLOWED  FOR  INDIVIDUALS PAID IN EXCESS OF THIS AMOUNT BUT SHALL BE
 LIMITED TO A PORTION OF THE  WAGES  PAID  UP  TO  TWELVE  THOUSAND  FIVE
 HUNDRED DOLLARS PER QUARTER.
   (2) THE PROVISIONS OF THIS SECTION SHALL ONLY APPLY TO THE FIRST TWEN-
 TY CALENDAR QUARTERS BEGINNING AFTER THE EFFECTIVE DATE OF THIS SECTION.
   (3) THE CREDIT ALLOWED BY SUBDIVISION (A) OF THIS SECTION WITH RESPECT
 TO ANY CALENDAR QUARTER SHALL NOT EXCEED THE APPLICABLE EMPLOYMENT TAXES
 (REDUCED BY ANY CREDITS ALLOWED UNDER SUBSECTIONS (E) AND (F) OF SECTION
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02644-05-3
              

co-Sponsors

multi-Sponsors

2023-A2958B - Details

See Senate Version of this Bill:
S625
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§606 & 210-B, add §24-d, Tax L
Versions Introduced in 2021-2022 Legislative Session:
A8585, S7544

2023-A2958B - Summary

Provides a payroll tax credit for compensation of journalists; provides for the repeal of such provisions upon the expiration thereof.

2023-A2958B - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  2958--B
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 1, 2023
                                ___________
 
 Introduced by M. of A. WOERNER, SAYEGH, BURDICK, LEVENBERG, CRUZ, BORES,
   SEAWRIGHT,  FAHY,  STIRPE,  SHIMSKY, McMAHON, REYES, THIELE, SILLITTI,
   SEPTIMO, NOVAKHOV, BRABENEC, HAWLEY, MAHER, McDONOUGH,  SIMON,  JONES,
   RAGA,   GUNTHER,  EPSTEIN,  SLATER,  J. A. GIGLIO,  BYRNES,  ANGELINO,
   BURGOS, KELLES, SIMONE -- Multi-Sponsored by -- M. of A. STECK -- read
   once and referred to the Committee on  Ways  and  Means  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to  said  committee  -- again reported from said committee with amend-
   ments, ordered reprinted as amended and recommitted to said committee
 
 AN ACT to amend the tax law, in relation  to  providing  a  payroll  tax
   credit  for compensation of journalists; and to provide for the repeal
   of such provisions upon expiration thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  This  act  shall  be known and may be cited as the "local
 journalism sustainability act".
   § 2. The tax law is amended by adding a new section 24-d  to  read  as
 follows:
   §  24-D. PAYROLL CREDIT FOR COMPENSATION OF JOURNALISTS. (A) IN GENER-
 AL.  AN ELIGIBLE NEWS JOURNALIST EMPLOYER WHICH IS SUBJECT TO TAX  UNDER
 ARTICLE  NINE-A  OR TWENTY-TWO OF THIS CHAPTER SHALL BE ALLOWED A CREDIT
 AGAINST SUCH TAX, TO BE COMPUTED AS PROVIDED IN THIS SECTION,  FOR  EACH
 CALENDAR  QUARTER  AN AMOUNT EQUAL TO THE APPLICABLE PERCENTAGE OF WAGES
 PAID BY SUCH EMPLOYER TO NEWS JOURNALISTS FOR SUCH CALENDAR QUARTER.
   (B) LIMITATIONS.  (1) THE AMOUNT OF WAGES PAID  WITH  RESPECT  TO  ANY
 INDIVIDUAL WHICH MAY BE TAKEN INTO ACCOUNT UNDER SUBDIVISION (A) OF THIS
 SECTION  DURING  ANY  CALENDAR  QUARTER  BY THE ELIGIBLE NEWS JOURNALIST
 EMPLOYER SHALL NOT EXCEED TWELVE THOUSAND FIVE HUNDRED  DOLLARS.  CREDIT
 IS  ALLOWED  FOR  INDIVIDUALS PAID IN EXCESS OF THIS AMOUNT BUT SHALL BE
 LIMITED TO A PORTION OF THE  WAGES  PAID  UP  TO  TWELVE  THOUSAND  FIVE
 HUNDRED DOLLARS PER QUARTER.
   (2) THE PROVISIONS OF THIS SECTION SHALL ONLY APPLY TO THE FIRST TWEN-
 TY CALENDAR QUARTERS BEGINNING AFTER THE EFFECTIVE DATE OF THIS SECTION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

co-Sponsors

multi-Sponsors

2023-A2958C (ACTIVE) - Details

See Senate Version of this Bill:
S625
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§606 & 210-B, add §24-d, Tax L
Versions Introduced in 2021-2022 Legislative Session:
A8585, S7544

2023-A2958C (ACTIVE) - Summary

Provides a payroll tax credit for compensation of journalists; provides for the repeal of such provisions upon the expiration thereof.

2023-A2958C (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  2958--C
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 1, 2023
                                ___________
 
 Introduced by M. of A. WOERNER, SAYEGH, BURDICK, LEVENBERG, CRUZ, BORES,
   SEAWRIGHT,  FAHY,  STIRPE,  SHIMSKY, McMAHON, REYES, THIELE, SILLITTI,
   SEPTIMO, NOVAKHOV, BRABENEC, HAWLEY, MAHER, McDONOUGH,  SIMON,  JONES,
   RAGA,   GUNTHER,  EPSTEIN,  SLATER,  J. A. GIGLIO,  BYRNES,  ANGELINO,
   BURGOS, KELLES, SIMONE -- Multi-Sponsored by -- M. of A. STECK -- read
   once and referred to the Committee on  Ways  and  Means  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to  said  committee  -- again reported from said committee with amend-
   ments, ordered reprinted as amended and recommitted to said  committee
   --  committee  discharged,  bill amended, ordered reprinted as amended
   and recommitted to said committee
 
 AN ACT to amend the tax law, in relation  to  providing  a  payroll  tax
   credit  for compensation of journalists; and to provide for the repeal
   of such provisions upon expiration thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  This  act  shall  be known and may be cited as the "local
 journalism sustainability act".
   § 2. The tax law is amended by adding a new section 24-d  to  read  as
 follows:
   §  24-D. PAYROLL CREDIT FOR COMPENSATION OF JOURNALISTS. (A) IN GENER-
 AL.  AN ELIGIBLE NEWS JOURNALIST EMPLOYER WHICH IS SUBJECT TO TAX  UNDER
 ARTICLE  NINE-A  OR TWENTY-TWO OF THIS CHAPTER SHALL BE ALLOWED A CREDIT
 AGAINST SUCH TAX, TO BE COMPUTED AS PROVIDED IN THIS SECTION,  FOR  EACH
 CALENDAR  QUARTER  AN AMOUNT EQUAL TO THE APPLICABLE PERCENTAGE OF WAGES
 PAID BY SUCH EMPLOYER TO NEWS JOURNALISTS FOR SUCH CALENDAR QUARTER.
   (B) LIMITATIONS.  (1) THE AMOUNT OF WAGES PAID  WITH  RESPECT  TO  ANY
 INDIVIDUAL WHICH MAY BE TAKEN INTO ACCOUNT UNDER SUBDIVISION (A) OF THIS
 SECTION  DURING  ANY  CALENDAR  QUARTER  BY THE ELIGIBLE NEWS JOURNALIST
 EMPLOYER SHALL NOT EXCEED TWELVE THOUSAND FIVE HUNDRED  DOLLARS.  CREDIT
 IS  ALLOWED  FOR  INDIVIDUALS PAID IN EXCESS OF THIS AMOUNT BUT SHALL BE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02644-09-3
              

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