Senate Bill S2473

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2473
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             January 21, 2025
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law, in relation to establishing the  fresh  air
   jobs tax credit
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Short title. This act shall be known and may  be  cited  as
 the "fresh air jobs act".
   §  2. Section 210-B of the tax law is amended by adding a new subdivi-
 sion 61 to read as follows:
   61. FRESH AIR JOBS TAX CREDIT. (A) ALLOWANCE OF  CREDIT.  FOR  TAXABLE
 YEARS  BEGINNING  ON OR AFTER JANUARY FIRST, TWO THOUSAND TWENTY-SIX, AN
 ELIGIBLE TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS  PROVIDED
 IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR HIRING
 AND EMPLOYING, FOR NOT LESS THAN TWENTY-FOUR MONTHS, A QUALIFIED EMPLOY-
 EE. THE TAXPAYER MAY CLAIM THE CREDIT IN THE YEAR IN WHICH THE QUALIFIED
 EMPLOYEE  COMPLETES TWENTY-FOUR MONTHS OF EMPLOYMENT BY THE TAXPAYER. IF
 THE TAXPAYER CLAIMS THE CREDIT ALLOWED UNDER THIS SECTION, THE  TAXPAYER
 MAY  NOT  USE  THE  HIRING OF A QUALIFIED EMPLOYEE THAT IS THE BASIS FOR
 THIS CREDIT IN THE BASIS OF ANY OTHER CREDIT ALLOWED UNDER THIS ARTICLE.
   (B) DEFINITIONS. (I) THE TERM "QUALIFIED EMPLOYEE" SHALL MEAN AN INDI-
 VIDUAL WHO IS A RESIDENT OF NEW YORK STATE.
   (II) THE TERM "ELIGIBLE TAXPAYER" SHALL MEAN A BUSINESS  PARTICIPATING
 IN  THE DEVELOPMENT OR PRODUCTION OF CLEAN WIND ENERGY BUILDOUT PROGRAMS
 IN THIS STATE.
   (C) EMPLOYER PROHIBITION. AN EMPLOYER SHALL NOT DISCHARGE AN  EMPLOYEE
 AND  HIRE A QUALIFYING EMPLOYEE SOLELY FOR THE PURPOSE OF QUALIFYING FOR
 THIS CREDIT.
   (D) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL BE TEN PERCENT OF THE
 TOTAL AMOUNT OF WAGES PAID TO THE QUALIFIED EMPLOYEE DURING THE  EMPLOY-
 EE'S  SECOND  FULL  YEAR  OF EMPLOYMENT. PROVIDED, HOWEVER, THAT, IF THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06644-02-5
              

 S. 2473                             2
 
 QUALIFIED EMPLOYEE WAS RECEIVING UNEMPLOYMENT INSURANCE BENEFITS AT  THE
 TIME  OF  HIRE FOR A MINIMUM OF THIRTEEN WEEKS, THE AMOUNT OF THE CREDIT
 SHALL BE FIFTEEN PERCENT OF THE TOTAL AMOUNT OF WAGES PAID TO THE QUALI-
 FIED  EMPLOYEE DURING THE EMPLOYEE'S SECOND FULL YEAR OF EMPLOYMENT. THE
 CREDIT ALLOWED PURSUANT TO THIS SUBDIVISION  SHALL  NOT  EXCEED  IN  ANY
 TAXABLE  YEAR,  FIVE THOUSAND DOLLARS FOR ANY QUALIFIED EMPLOYEE AND TEN
 THOUSAND DOLLARS FOR ANY QUALIFIED EMPLOYEE WHO WAS RECEIVING  UNEMPLOY-
 MENT  INSURANCE  BENEFITS  AT THE TIME OF HIRE FOR A MINIMUM OF THIRTEEN
 WEEKS.
   (E) CARRYOVERS. THE CREDIT ALLOWED  UNDER  THIS  SUBDIVISION  FOR  ANY
 TAXABLE 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 TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
   (F) IF AN ELIGIBLE  TAXPAYER  PROVIDES  CONTINUING  EDUCATION  OR  JOB
 TRAINING  TO  A  QUALIFIED EMPLOYEE UNDER THIS SUBSECTION, SUCH TAXPAYER
 SHALL BE ELIGIBLE TO RECEIVE THE TAX CREDIT PROVIDED UNDER THIS SUBDIVI-
 SION IN THE FOLLOWING TAX YEAR.
   § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
 of  the  tax  law  is  amended  by  adding a new clause (lii) to read as
 follows:
 
 (LII) FRESH AIR JOBS TAX CREDIT      AMOUNT OF CREDIT UNDER SUBDIVISION
 UNDER SUBSECTION (WWW)               SIXTY-ONE OF SECTION TWO HUNDRED TEN-B
 
   § 4. Section 606 of the tax law is amended by adding a new  subsection
 (www) to read as follows:
   (WWW)  FRESH AIR JOBS TAX CREDIT. (1) ALLOWANCE OF CREDIT. FOR TAXABLE
 YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND  TWENTY-SIX,  AN
 ELIGIBLE  TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED
 IN THIS SUBSECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR  HIRING
 AND EMPLOYING, FOR NOT LESS THAN TWENTY-FOUR MONTHS, A QUALIFIED EMPLOY-
 EE. THE TAXPAYER MAY CLAIM THE CREDIT IN THE YEAR IN WHICH THE QUALIFIED
 EMPLOYEE  COMPLETES TWENTY-FOUR MONTHS OF EMPLOYMENT BY THE TAXPAYER. IF
 THE TAXPAYER CLAIMS THE CREDIT ALLOWED UNDER THIS SECTION, THE  TAXPAYER
 MAY  NOT  USE  THE  HIRING OF A QUALIFIED EMPLOYEE THAT IS THE BASIS FOR
 THIS CREDIT IN THE BASIS OF ANY OTHER CREDIT ALLOWED UNDER THIS ARTICLE.
   (2) DEFINITIONS. (A) THE TERM "QUALIFIED EMPLOYEE" SHALL MEAN AN INDI-
 VIDUAL WHO IS A RESIDENT OF NEW YORK STATE.
   (B) THE TERM "ELIGIBLE TAXPAYER" SHALL MEAN A  BUSINESS  PARTICIPATING
 IN  THE DEVELOPMENT OR PRODUCTION OF CLEAN WIND ENERGY BUILDOUT PROGRAMS
 IN THIS STATE.
   (3) EMPLOYER PROHIBITION. AN EMPLOYER SHALL NOT DISCHARGE AN  EMPLOYEE
 AND  HIRE A QUALIFYING EMPLOYEE SOLELY FOR THE PURPOSE OF QUALIFYING FOR
 THIS CREDIT.
   (4) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL BE TEN PERCENT OF THE
 TOTAL AMOUNT OF WAGES PAID TO THE QUALIFIED EMPLOYEE DURING THE  EMPLOY-
 EE'S  SECOND  FULL  YEAR  OF EMPLOYMENT. PROVIDED, HOWEVER, THAT, IF THE
 QUALIFIED EMPLOYEE WAS RECEIVING UNEMPLOYMENT INSURANCE BENEFITS AT  THE
 TIME  OF  HIRE FOR A MINIMUM OF THIRTEEN WEEKS, THE AMOUNT OF THE CREDIT
 SHALL BE FIFTEEN PERCENT OF THE TOTAL AMOUNT OF WAGES PAID TO THE QUALI-
 FIED EMPLOYEE DURING THE EMPLOYEE'S SECOND FULL YEAR OF EMPLOYMENT.  THE
 S. 2473                             3
 
 CREDIT ALLOWED PURSUANT TO THIS SUBSECTION SHALL NOT EXCEED IN ANY TAXA-
 BLE YEAR, FIVE THOUSAND DOLLARS FOR ANY QUALIFIED EMPLOYEE AND TEN THOU-
 SAND DOLLARS FOR ANY QUALIFIED EMPLOYEE WHO WAS  RECEIVING  UNEMPLOYMENT
 INSURANCE BENEFITS AT THE TIME OF HIRE FOR A MINIMUM OF THIRTEEN WEEKS.
   (5) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER
 THIS SUBSECTION FOR ANY TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR SUCH
 YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
 ED  OR  REFUNDED  AS  PROVIDED IN SECTION SIX HUNDRED EIGHTY-SIX OF THIS
 ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   (6) IF AN ELIGIBLE  TAXPAYER  PROVIDES  CONTINUING  EDUCATION  OR  JOB
 TRAINING  TO  A  QUALIFIED EMPLOYEE UNDER THIS SUBSECTION, SUCH TAXPAYER
 SHALL BE  ELIGIBLE  TO  RECEIVE  THE  TAX  CREDIT  PROVIDED  UNDER  THIS
 SUBSECTION IN THE FOLLOWING TAX YEAR.
   § 5. Beginning no later than 6 months after the effective date of this
 act, the department of taxation and finance shall contract with an inde-
 pendently  owned entity to compile data on the hiring practices of enti-
 ties participating in the development or production of clean wind energy
 buildout programs in this state who are awarded the fresh air  jobs  tax
 credit  established by this act, including but not limited to the number
 of employees hired who are New York state residents. No  later  than  12
 months  after  the effective date of this act, the commissioner of taxa-
 tion and finance shall publish such data on the department  of  taxation
 and finance's website.
   § 6. This act shall take effect immediately.