Bill Text: NY S03112 | 2015-2016 | General Assembly | Amended

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Bill Title: Creates a wage tax credit for employers who employ New York national guard men and women, reservists, volunteer firefighters and EMS personnel.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2016-05-04 - REPORTED AND COMMITTED TO FINANCE [S03112 Detail]

Download: New_York-2015-S03112-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                         3112--A
                               2015-2016 Regular Sessions
                    IN SENATE
                                    February 2, 2015
                                       ___________
        Introduced  by  Sens. ORTT, FUNKE -- read twice and ordered printed, and
          when printed to be committed to the Committee  on  Investigations  and
          Government  Operations  --  recommitted  to  the Committee on Investi-
          gations and Government Operations in accordance with  Senate  Rule  6,
          sec.  8  --  committee  discharged, bill amended, ordered reprinted as
          amended and recommitted to said committee
        AN ACT to amend the tax law, in relation to creating a wage  tax  credit
          for employers who employ New York national guard men and women, reser-
          vists, volunteer firefighters and EMS personnel
          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  two  new
     2  subdivisions 49 and 51 to read as follows:
     3    49. Employment of New York national guard and reserve members wage tax
     4  credit.  (a)  Allowance of credit. A taxpayer shall be allowed a credit,
     5  to be computed as provided in this subdivision, against the tax  imposed
     6  by  this  article,  if it employs members of the New York national guard
     7  and reserves. Provided, however, such taxpayer  shall  comply  with  the
     8  Uniformed  Services  Employment and Reemployment Rights Act, as found in
     9  section 4301 et seq. of title 18 of the United States Code.
    10    (b) Application of credit. The credit allowed under  this  subdivision
    11  for  any taxable year shall not reduce the tax due for such year to less
    12  than the minimum amount prescribed in paragraph (d) of  subdivision  one
    13  of  section  two hundred ten of this article. If, however, the amount of
    14  credits allowed under this subdivision for any taxable year reduces  the
    15  tax  to  such  amount,  any amount of credit thus not deductible in such
    16  taxable year shall be treated as an overpayment of tax to be credited or
    17  refunded in accordance with  the  provisions  of  section  one  thousand
    18  eighty-six  of  this  chapter.  Provided,  however,  the  provisions  of
    19  subsection (c) of section one  thousand  eighty-eight  of  this  chapter
    20  notwithstanding, no interest shall be paid thereon.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02022-02-6