Bill Text: NY A06870 | 2021-2022 | General Assembly | Amended
Bill Title: Establishes a tax credit for any equipment or product, including materials used in the construction of physical barriers, purchased by a small business doing business in this state that is directly used by such small business to comply with a COVID-19 health and safety plan.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2022-01-05 - referred to ways and means [A06870 Detail]
Download: New_York-2021-A06870-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 6870--B 2021-2022 Regular Sessions IN ASSEMBLY April 13, 2021 ___________ Introduced by M. of A. GRIFFIN -- read once and referred to the Commit- tee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- again reported from said committee with amendments, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to establishing a tax credit for any equipment or product purchased by a small business that is used to comply with a COVID-19 health and safety plan The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 210-B of the tax law is amended by adding a new 2 subdivision 58 to read as follows: 3 58. Sales tax paid on materials for COVID-19 health and safety plan 4 compliance. (1) A taxpayer that is a small business shall be allowed a 5 credit for sales tax paid during the eligibility period for any equip- 6 ment or product, including materials used in the construction of phys- 7 ical barriers, including but not limited to plastic shielding walls, 8 strip curtains, cubicle walls, plexiglass or similar materials, or other 9 impermeable dividers or partitions, purchased by such small business in 10 order to be in compliance with a COVID-19 health and safety plan. The 11 eligibility period shall be the period of time beginning on May 12 fifteenth, two thousand twenty and ending with the end of the declared 13 COVID-19 state of emergency as set out pursuant to executive order two 14 hundred two of two thousand twenty and as continued in each subsequent 15 executive order. 16 (2) The credit allowed under this subdivision for any taxable year 17 shall not reduce the tax due for such year to less than the fixed dollar 18 minimum amount prescribed in paragraph (d) of subdivision one of 19 section two hundred ten of this article. However, if the amount of cred- 20 it allowed under this subdivision for any taxable year reduces the 21 tax to such amount or if the taxpayer otherwise pays tax based on the EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD04910-05-1A. 6870--B 2 1 fixed dollar minimum amount, any amount of credit thus not deductible 2 in such taxable year shall be treated as an overpayment of tax to be 3 credited or refunded in accordance with the provisions of section one 4 thousand eighty-six of this chapter. Provided, however, the provisions 5 of subsection (c) of section one thousand eighty-eight of this chap- 6 ter notwithstanding, no interest shall be paid thereon. 7 (3) For purposes of this subdivision, the term "small business" shall 8 mean a business with one hundred or fewer employees. 9 § 2. Section 606 of the tax law is amended by adding a new subsection 10 (nnn) to read as follows: 11 (nnn) Sales tax paid on materials for COVID-19 health and safety plan 12 compliance. (1) A taxpayer who owns a small business shall be allowed a 13 credit for sales tax paid during the eligibility period for any equip- 14 ment or product, including materials used in the construction of phys- 15 ical barriers, including but not limited to plastic shielding walls, 16 strip curtains, cubicle walls, plexiglass or similar materials, or other 17 impermeable dividers or partitions, purchased by such small business in 18 order to be in compliance with a COVID-19 health and safety plan. The 19 eligibility period shall be the period of time beginning on May 20 fifteenth, two thousand twenty and ending with the end of the declared 21 COVID-19 state of emergency as set out pursuant to executive order two 22 hundred two of two thousand twenty and as continued in each subsequent 23 executive order. 24 (2) If the amount of the credit allowed under this subsection for any 25 taxable year shall exceed the taxpayer's tax for such year, the excess 26 shall be treated as an overpayment of tax to be credited or refunded in 27 accordance with the provisions of section six hundred eighty-six of this 28 article, provided, however, that no interest shall be paid thereon. 29 (3) For purposes of this subsection, the term "small business" shall 30 mean a business with one hundred or fewer employees. 31 § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 32 of the tax law is amended by adding a new clause (xlix) to read as 33 follows: 34 (xlix) Sales tax paid on materials Sales tax paid on 35 for COVID-19 health and safety materials for 36 plan compliance under COVID-19 health 37 subsection (nnn) and safety plan 38 compliance under 39 subdivision fifty-eight 40 of section two 41 hundred ten-B 42 § 4. This act shall take effect immediately, and shall apply to taxa- 43 ble years beginning on and after January 1, 2021; provided that the 44 commissioner of taxation and finance shall be authorized on and after 45 the date this act shall have become a law to take steps necessary to 46 implement the provisions of this act on its effective date.
