Bill Text: NY S04374 | 2021-2022 | General Assembly | Introduced
Bill Title: Establishes an income tax credit for costs associated with implementing and complying with the farm laborers fair labor practices act; includes increased labor, overtime, collective bargaining and workers' compensation costs.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2022-01-05 - REFERRED TO BUDGET AND REVENUE [S04374 Detail]
Download: New_York-2021-S04374-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 4374 2021-2022 Regular Sessions IN SENATE February 3, 2021 ___________ Introduced by Sen. MARTUCCI -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to an income tax credit for costs associated with implementing and complying with the farm labor- ers fair labor practices act 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 55 to read as follows: 3 55. Farm labor fair labor practices tax credit. (a) General. A taxpay- 4 er who is an agricultural employer shall be allowed a credit, to be 5 computed as provided in this subdivision, against the tax imposed by 6 this article for the costs associated with implementing and complying 7 with the provisions of the farm laborers fair labor practices act. 8 (b) Amount of credit. The amount of the credit authorized by this 9 subdivision shall be equal to one hundred percent of the increased costs 10 incurred by the agricultural employer including, but not limited to, 11 compliance with farm labor wage and overtime mandates, collective 12 bargaining provisions and workers' compensation requirements which 13 result from the mandates of the farm laborers fair labor practices act. 14 (c) Carryovers. The credit allowed under this subdivision may be 15 claimed and if not fully used in the initial year for which the credit 16 is claimed may be carried over, in order, to each of the five succeeding 17 taxable years. The credit authorized by this subdivision may not be used 18 to reduce the tax liability of the credit claimant below zero. 19 § 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 20 of the tax law is amended by adding a new clause (xlvi) to read as 21 follows: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07010-01-1S. 4374 2 1 (xlvi) Farm labor fair labor Costs under subdivision 2 practices tax credit fifty-five of section 3 under subsection (kkk) two hundred ten-B 4 § 3. Section 606 of the tax law is amended by adding a new subsection 5 (kkk) to read as follows: 6 (kkk) Farm labor fair labor practices tax credit. (a) General. A 7 taxpayer who is an agricultural employer shall be allowed a credit, to 8 be computed as provided in this subsection, against the tax imposed by 9 this article for the costs associated with implementing and complying 10 with the provisions of the farm laborers fair labor practices act. 11 (b) Amount of credit. The amount of the credit authorized by this 12 subsection shall be equal to one hundred percent of the increased costs 13 incurred by the agricultural employer including, but not limited to, 14 compliance with farm labor wage and overtime mandates, collective 15 bargaining provisions and workers' compensation requirements which 16 result from the mandates of the farm laborers fair labor practices act. 17 (c) Carryovers. The credit allowed under this subsection may be 18 claimed and if not fully used in the initial year for which the credit 19 is claimed may be carried over, in order, to each of the five succeeding 20 taxable years. The credit authorized by this subsection may not be used 21 to reduce the tax liability of the credit claimant below zero. 22 § 4. This act shall take effect immediately and shall apply to taxable 23 years beginning on or after January 1, 2021.
