Bill Text: NY A08674 | 2017-2018 | General Assembly | Introduced
Bill Title: Relates to offering a tax credit to employers who pay for their employees to acquire an associate of applied science in computer security from a SUNY or CUNY school.
Spectrum: Slight Partisan Bill (Democrat 5-3)
Status: (Introduced - Dead) 2018-01-03 - referred to ways and means [A08674 Detail]
Download: New_York-2017-A08674-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 8674 2017-2018 Regular Sessions IN ASSEMBLY September 25, 2017 ___________ Introduced by M. of A. MOSLEY -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to offering a tax credit to employers who pay for their employees to acquire an associate of applied science in computer security from a SUNY or CUNY school 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 53 to read as follows: 3 53. Employee cyber security education credit. (a) For purposes of this 4 subdivision: 5 (i) "employee" shall mean a person who is a resident of New York state 6 who is employed by the taxpayer; 7 (ii) "education costs" shall mean tuition, fees, and the cost of 8 required books and materials; 9 (iii) "qualifying degree" shall mean an associate of applied science 10 degree with a major in cyber security; and 11 (iv) "qualifying school" shall mean any state university of New York 12 or city university of New York school who offers a qualifying degree as 13 defined in subparagraph (iii) of this paragraph. 14 (b) Allowance of credit. A taxpayer shall be allowed a credit, to be 15 computed as provided in paragraph (c) of this subdivision, against the 16 tax imposed by this article, if it provides for payment, on behalf of an 17 employee, of all education costs relating to receiving a qualifying 18 degree from a qualifying school. 19 (c) Amount of credit. The credit allowed pursuant to paragraph (b) of 20 this subdivision shall be in an amount equal to the taxpayer's payment, 21 on behalf of an employee, of education costs relating to receiving a 22 qualifying degree from a qualifying school. Provided, however, that no 23 such credit allowed under this subdivision shall exceed five thousand 24 dollars for each such employee employed by such taxpayer. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD13386-01-7A. 8674 2 1 (d) Application of credit. The credit allowed under this subdivision 2 for any taxable year shall not reduce the tax due for such year to less 3 than the amount prescribed in paragraph (d) of subdivision one of 4 section two hundred ten of this article. If, however, the amount of 5 credits allowed under this subdivision for any taxable year reduces the 6 tax to such amount, any amount of credit thus not deductible in such 7 taxable year shall be treated as an overpayment of tax to be credited or 8 refunded in accordance with the provisions of section one thousand 9 eighty-six of this chapter. Provided, however, the provisions of 10 subsection (c) of section one thousand eighty-eight of this chapter 11 notwithstanding, no interest shall be paid thereon. 12 § 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 13 of the tax law is amended by adding a new clause (xliv) to read as 14 follows: 15 (xliv) Employee cyber security Amount of credit 16 education credit under subdivision 17 under subsection (iii) fifty-three of section 18 two hundred ten-B 19 § 3. Section 606 of the tax law is amended by adding a new subsection 20 (iii) to read as follows: 21 (iii) Employee cyber security education credit. (1) For purposes of 22 this subsection: 23 (A) "employee" shall mean a person who is a resident of New York state 24 who is employed by the taxpayer; 25 (B) "education costs" shall mean tuition, fees, and the cost of 26 required books and materials; 27 (C) "qualifying degree" shall mean an associate of applied science 28 degree with a major in cyber security; and 29 (D) "qualifying school" shall mean any state university of New York or 30 city university of New York school who offers a qualifying degree as 31 defined in subparagraph (C) of this paragraph. 32 (2) Allowance of credit. A taxpayer shall be allowed a credit, to be 33 computed as provided in paragraph three of this subsection, against the 34 tax imposed by this article, if it provides for payment, on behalf of an 35 employee, of all education costs relating to receiving a qualifying 36 degree from a qualifying school. 37 (3) Amount of credit. The credit allowed pursuant to paragraph two of 38 this subsection shall be in an amount equal to the taxpayer's payment, 39 on behalf of an employee, of education costs relating to receiving a 40 qualifying degree from a qualifying school. Provided, however, that no 41 such credit allowed under this subsection shall exceed five thousand 42 dollars for each such employee employed by such taxpayer. 43 (4) Application of credit. If the amount of the credit allowed under 44 this subsection for any taxable year shall exceed the taxpayer's tax for 45 such year, the excess shall be treated as an overpayment of tax to be 46 credited or refunded in accordance with the provisions of section six 47 hundred eighty-six of this article, provided, however, that no interest 48 shall be paid thereon. 49 § 4. This act shall take effect immediately and shall apply to taxable 50 years beginning on and after the first of January next succeeding the 51 date on which it shall have become a law.
