NY S06378 | 2023-2024 | General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on April 18 2023 - 25% progression, died in committee
Action: 2024-01-03 - REFERRED TO BUDGET AND REVENUE
Pending: Senate Budget and Revenue Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on April 18 2023 - 25% progression, died in committee
Action: 2024-01-03 - REFERRED TO BUDGET AND REVENUE
Pending: Senate Budget and Revenue Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Provides a 50% tax credit for new income tax revenue generated by a new employee; provides credit may be taken up to 10 years; provides that the Department of Economic Development must monitor and certify the additional employment for any business which applies for the credit; provides any company taking the credit must maintain employment in the state for twice the number of years as the term of the tax credit; provides the Department of Economic Development shall annually report to the governor and the Legislature on the number and amounts of credits.
Title
Provides a 50% tax credit for new income tax revenue generated by a new employee; provides credit may be taken up to 10 years; provides that the Department of Economic Development must monitor and certify the additional employment for any business which applies for the credit; provides any company taking the credit must maintain employment in the state for twice the number of years as the term of the tax credit; provides the Department of Economic Development shall annually report to the governor and the Legislature on the number and amounts of credits.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2024-01-03 | Senate | REFERRED TO BUDGET AND REVENUE |
2023-04-18 | Senate | REFERRED TO BUDGET AND REVENUE |