Bill Text: NY A00570 | 2013-2014 | General Assembly | Amended

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Bill Title: Establishes a small business tax credit for the employment of disabled persons.

Spectrum: Slight Partisan Bill (Democrat 5-3)

Status: (Introduced - Dead) 2014-06-17 - held for consideration in ways and means [A00570 Detail]

Download: New_York-2013-A00570-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        570--A
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                      (PREFILED)
                                    January 9, 2013
                                      ___________
       Introduced by M. of A. CUSICK, KELLNER, FINCH, LUPARDO, CROUCH, BLANKEN-
         BUSH,  SIMANOWITZ, McDONALD -- read once and referred to the Committee
         on Ways and Means -- recommitted to the Committee on Ways and Means in
         accordance with Assembly Rule 3, sec. 2 -- committee discharged,  bill
         amended,  ordered reprinted as amended and recommitted to said commit-
         tee
       AN ACT to amend the tax law, in relation to establishing a  small  busi-
         ness tax credit for the employment of disabled persons
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Section 210 of the tax law  is  amended  by  adding  a  new
    2  subdivision 48 to read as follows:
    3    48.  SMALL  BUSINESS  TAX  CREDIT;  DISABLED  PERSONS.  (A) GENERAL. A
    4  TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
    5  IT, TO BE COMPUTED AS PROVIDED IN  THIS  SUBDIVISION,  AGAINST  THE  TAX
    6  IMPOSED  BY THIS ARTICLE FOR EACH DISABLED PERSON HIRED DURING A TAXABLE
    7  YEAR, PROVIDED THAT SUCH DISABLED PERSON  IS  EMPLOYED  FOR  THIRTY-FIVE
    8  HOURS  OR  MORE  PER WEEK AND REMAINS IN THE EMPLOY OF SUCH TAXPAYER FOR
    9  TWELVE MONTHS OR MORE.
   10    (B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
   11  FIVE  THOUSAND  DOLLARS  PER  HIRED DISABLED PERSON BUT SHALL NOT EXCEED
   12  TWENTY-FIVE THOUSAND DOLLARS.
   13    (C) CARRYOVERS. THE CREDIT  ALLOWED  UNDER  THIS  SUBDIVISION  MAY  BE
   14  CLAIMED  AND  IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH THE CREDIT
   15  IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
   16  TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
   17  TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
   18    (D) DEFINITIONS. AS USED  IN  THIS  SUBDIVISION,  THE  TERM  "DISABLED
   19  PERSON"  SHALL  MEAN  A  PERSON WHO SUFFERS FROM ANY PHYSICAL, MENTAL OR
   20  MEDICAL IMPAIRMENT RESULTING FROM ANATOMICAL, PHYSIOLOGICAL, GENETIC  OR
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD00837-03-4
       A. 570--A                           2
    1  NEUROLOGICAL  CONDITIONS  WHICH PREVENTS THE EXERCISE OF A NORMAL BODILY
    2  FUNCTION OR IS DEMONSTRABLE BY MEDICALLY ACCEPTED CLINICAL OR LABORATORY
    3  DIAGNOSTIC TECHNIQUES.
    4    S  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
    5  of the tax law is amended by adding a new clause  (xxxvii)  to  read  as
    6  follows:
    7  (XXXVII) SMALL BUSINESS TAX CREDIT;  COSTS UNDER SUBDIVISION
    8  DISABLED PERSONS                     FORTY-EIGHT OF SECTION
    9  SUBSECTION (XX)                      TWO HUNDRED TEN
   10    S  3.    Subsections  (yy)  and (zz) of section 606 of the tax law, as
   11  relettered by section 5 of part H of chapter 1 of the laws of 2003,  are
   12  relettered  subsections  (yyy)  and  (zzz)  and a new subsection (xx) is
   13  added to read as follows:
   14    (XX) SMALL BUSINESS TAX  CREDIT;  DISABLED  PERSONS.  (1)  GENERAL.  A
   15  TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
   16  IT,  TO  BE  COMPUTED  AS  PROVIDED  IN THIS SUBSECTION, AGAINST THE TAX
   17  IMPOSED BY THIS ARTICLE FOR EACH DISABLED PERSON HIRED DURING A  TAXABLE
   18  YEAR,  PROVIDED  THAT  SUCH  DISABLED PERSON IS EMPLOYED FOR THIRTY-FIVE
   19  HOURS OR MORE PER WEEK AND REMAINS IN THE EMPLOY OF  SUCH  TAXPAYER  FOR
   20  TWELVE MONTHS OR MORE.
   21    (2)  AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL EQUAL
   22  FIVE THOUSAND DOLLARS PER HIRED DISABLED PERSON  BUT  SHALL  NOT  EXCEED
   23  TWENTY-FIVE THOUSAND DOLLARS.
   24    (3)  CARRYOVERS.  THE  CREDIT  ALLOWED  UNDER  THIS  SUBSECTION MAY BE
   25  CLAIMED AND IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH  THE  CREDIT
   26  IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
   27  TAXABLE  YEARS. THE CREDIT AUTHORIZED BY THIS SUBSECTION MAY NOT BE USED
   28  TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
   29    (4) DEFINITIONS. AS  USED  IN  THIS  SUBSECTION,  THE  TERM  "DISABLED
   30  PERSON"  SHALL  MEAN  A  PERSON WHO SUFFERS FROM ANY PHYSICAL, MENTAL OR
   31  MEDICAL IMPAIRMENT RESULTING FROM ANATOMICAL, PHYSIOLOGICAL, GENETIC  OR
   32  NEUROLOGICAL  CONDITIONS  WHICH PREVENTS THE EXERCISE OF A NORMAL BODILY
   33  FUNCTION OR IS DEMONSTRABLE BY MEDICALLY ACCEPTED CLINICAL OR LABORATORY
   34  DIAGNOSTIC TECHNIQUES.
   35    S 4. This act shall take effect immediately and shall apply to taxable
   36  years beginning on or after January 1, 2015.