Bill Text: NY A06988 | 2019-2020 | General Assembly | Introduced

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Bill Title: Relates to a minimum wage reimbursement credit.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2020-01-08 - referred to ways and means [A06988 Detail]

Download: New_York-2019-A06988-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6988
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                      April 3, 2019
                                       ___________
        Introduced by M. of A. NORRIS -- read once and referred to the Committee
          on Ways and Means
        AN  ACT  to amend the tax law, in relation to minimum wage reimbursement
          credit
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. Section 38 of the tax law, as added by section 1 of part EE
     2  of chapter 59 of the laws of 2013, is renumbered section 44 and subdivi-
     3  sions (b) and (c) are amended to read as follows:
     4    (b)  An  eligible  employer  is  a corporation (including a New York S
     5  corporation), a sole proprietorship, a limited liability  company  or  a
     6  partnership.  An  eligible employee is an individual who is (i) employed
     7  by an eligible employer in New York state, (ii) paid at the minimum wage
     8  rate as defined in article nineteen of the labor law during the  taxable
     9  year  by  the  eligible  employer, (iii) between the ages of sixteen and
    10  nineteen during the period in which he or she is paid  at  such  minimum
    11  wage rate by the eligible employer, and (iv) a student during the period
    12  in  which  he  or she is paid at such minimum wage rate by the taxpayer.
    13  For taxable years beginning on and after  January  first,  two  thousand
    14  nineteen,  an  eligible employee is an individual who is (i) employed by
    15  an eligible employer in New York state, (ii) paid at a  rate  that  does
    16  not  exceed  the minimum wage rate as defined in article nineteen of the
    17  labor law plus fifty cents during  the  taxable  year  by  the  eligible
    18  employer,  (iii)  between  the  ages  of sixteen and nineteen during the
    19  period in which he or she is paid at such rate that does not exceed such
    20  minimum wage rate plus fifty cents by the eligible employer, and (iv)  a
    21  student  during  the period in which he or she is paid at such rate that
    22  does not exceed such minimum wage rate plus fifty cents by the taxpayer.
    23    (c) For taxable years beginning on or after January first,  two  thou-
    24  sand fourteen and before January first, two thousand fifteen, the amount
    25  of  the  credit allowed under this section shall be equal to the product
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10872-01-9
        A. 6988                             2
     1  of the total number of hours worked during the taxable year by  eligible
     2  employees  for  which they were paid at the minimum wage rate as defined
     3  in article nineteen of the labor law  and  [seventy  five]  seventy-five
     4  cents.  For taxable years beginning on or after January first, two thou-
     5  sand fifteen and before January first, two thousand sixteen, the  amount
     6  of  the  credit allowed under this section shall be equal to the product
     7  of the total number of hours during the taxable year worked by  eligible
     8  employees  for  which  they  were paid at such minimum wage rate and one
     9  dollar and thirty-one cents. For taxable years  beginning  on  or  after
    10  January  first, two thousand sixteen and before January first, two thou-
    11  sand nineteen, the amount of the credit allowed under this section shall
    12  be equal to the product of the total number of hours during the  taxable
    13  year worked by eligible employees for which they were paid at such mini-
    14  mum  wage  rate  and one dollar and thirty-five cents. For taxable years
    15  beginning on or after January first, two thousand  nineteen  and  before
    16  January first, two thousand twenty-two, the amount of the credit allowed
    17  under  this section shall be equal to the product of the total number of
    18  hours during the taxable year worked by  eligible  employees  for  which
    19  they  were  paid  at  a rate that does not exceed such minimum wage rate
    20  plus fifty cents and one dollar and thirty-five cents. Provided,  howev-
    21  er,  if  the federal minimum wage established by federal law pursuant to
    22  29 U.S.C. section 206 or its successors is increased  above  eighty-five
    23  percent  of  the  minimum wage in article nineteen of the labor law, the
    24  dollar amounts in this subdivision shall be reduced  to  the  difference
    25  between  the  minimum  wage in article nineteen of the labor law and the
    26  federal minimum wage.  Such reduction would take effect on the date that
    27  employers are required to pay such federal minimum wage.
    28    § 2. This act shall take effect immediately and shall apply to taxable
    29  years beginning on and after January 1, 2019.