Bill Text: NY S05803 | 2023-2024 | General Assembly | Introduced

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Bill Title: Establishes a five hundred dollar credit against income tax for nurses employed on a full-time basis for not less than six months and nurses teaching at institutions of higher education on and after January 1, 2024.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2024-01-03 - REFERRED TO BUDGET AND REVENUE [S05803 Detail]

Download: New_York-2023-S05803-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5803

                               2023-2024 Regular Sessions

                    IN SENATE

                                     March 16, 2023
                                       ___________

        Introduced  by Sen. GALLIVAN -- 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 establishing certain credits
          against income tax for nurses

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Section  606  of the tax law is amended by adding two new
     2  subsections (ooo) and (ppp) to read as follows:
     3    (ooo) Credit for full-time nurses. (1) Amount of credit.  For  taxable
     4  years  beginning  on or after January first, two thousand twenty-four, a
     5  taxpayer shall be allowed a credit against the tax imposed by this arti-
     6  cle, where the taxpayer is licensed as a registered  professional  nurse
     7  or  licensed practical nurse pursuant to article one hundred thirty-nine
     8  of the education law and has been employed on a full-time  basis  within
     9  this  state  as  a nurse for not less than six months during the taxable
    10  year.  The amount of such credit shall  be  five  hundred  dollars.  For
    11  purposes  of  this  subsection, the term "employed on a full-time basis"
    12  shall mean employment of not less than thirty hours per week.
    13    (2) Application of credit. If the amount of credit allowed under  this
    14  subsection  for  any  taxable  year  exceeds the taxpayer's tax for such
    15  year, the excess will be treated as an overpayment  to  be  credited  or
    16  refunded in accordance with the provisions of section six hundred eight-
    17  y-six  of this article, provided, however, that no interest will be paid
    18  thereon.
    19    (ppp) Credit for teaching nurses. (1) Amount of  credit.  For  taxable
    20  years  beginning  on or after January first, two thousand twenty-four, a
    21  taxpayer shall be allowed a credit against the tax imposed by this arti-
    22  cle, where the taxpayer is licensed as a registered  professional  nurse
    23  or  licensed practical nurse pursuant to article one hundred thirty-nine
    24  of the education law and who teaches nursing at an institution of higher
    25  education for not less than six months  during  the  taxable  year.  The

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06264-01-3
        S. 5803                             2

     1  amount  of  such  credit  shall be five hundred dollars. For purposes of
     2  this subsection, the term "institution of higher education"  shall  mean
     3  any  institution  of  higher  education or business, trade, technical or
     4  other  occupational  school,  recognized and approved by the regents, or
     5  any successor organization, of the university of the state of  New  York
     6  or  accredited  by a nationally recognized accrediting agency or associ-
     7  ation accepted as such by the regents, or any successor organization, of
     8  the university of the state of New York,  which  provides  a  course  of
     9  study leading to the granting of a post-secondary degree, certificate or
    10  diploma.
    11    (2)  Application  of credit. If the amount of the credit allowed under
    12  this subsection for any taxable year exceeds the taxpayer's tax for such
    13  year, the excess will be treated as an overpayment  to  be  credited  or
    14  refunded in accordance with the provisions of section six hundred eight-
    15  y-six  of this article, provided, however, that no interest will be paid
    16  thereon.
    17    § 2. This act shall take effect immediately.