Bill Text: NY A02590 | 2019-2020 | General Assembly | Introduced

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Bill Title: Creates a doing business with a vocational program tax credit equal to one hundred percent of the purchases made by the taxpayer to a business that is a vocational program.

Spectrum: Partisan Bill (Republican 8-0)

Status: (Introduced - Dead) 2020-07-17 - held for consideration in ways and means [A02590 Detail]

Download: New_York-2019-A02590-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          2590
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 24, 2019
                                       ___________
        Introduced  by  M.  of A. CROUCH, DiPIETRO, GIGLIO, LAWRENCE, MORINELLO,
          NORRIS -- Multi-Sponsored by -- M. of  A.  HAWLEY  --  read  once  and
          referred to the Committee on Ways and Means
        AN  ACT  to  amend the tax law, in relation to creating a doing business
          with a vocational program tax credit
          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 a new
     2  subsection (jjj) to read as follows:
     3    (jjj) Doing business with a vocational program tax credit. (1)  Allow-
     4  ance of credit. A taxpayer who owns a business that makes purchases from
     5  a  vocational  program  shall  be  allowed  a  credit, to be computed as
     6  provided in paragraph three of this subsection, against the tax  imposed
     7  by  this  article. To qualify for the credit provided in this section, a
     8  taxpayer must be a New York resident and own a business located  in  New
     9  York.
    10    (2)  Definition.  For the purposes of this subsection, the term "voca-
    11  tional program" shall have the same  definition  as  set  forth  by  the
    12  commissioner of the office of people with developmental disabilities.
    13    (3)  Amount  of  credit.  The amount of credit shall equal one hundred
    14  percent of the purchases made by the taxpayer to a business  that  is  a
    15  vocational program.
    16    (4)  Application  of credit. If the amount of the credit allowed under
    17  this subsection for any taxable year shall exceed the taxpayer's tax for
    18  such year, the excess shall be treated as an overpayment of  tax  to  be
    19  credited  or  refunded  in accordance with the provisions of section six
    20  hundred eighty-six of this article, provided, however, that no  interest
    21  shall be paid thereon.
    22    §  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
    23  of the tax law is amended by adding a  new  clause  (xliv)  to  read  as
    24  follows:
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03051-01-9
        A. 2590                             2
     1  (xliv) Doing business with a         Amount of credit
     2  vocational program                   under subdivision
     3  tax credit under                     fifty-three of section
     4  subsection (jjj)                     two hundred ten-B
     5    §  3. Section 210-B of the tax law is amended by adding a new subdivi-
     6  sion 53 to read as follows:
     7    53. Doing business with a vocational program tax credit. (a) Allowance
     8  of credit. A taxpayer who owns a business that makes  purchases  from  a
     9  vocational program shall be allowed a credit, to be computed as provided
    10  in  paragraph  (c)  of this subdivision, against the tax imposed by this
    11  article. To qualify for the credit provided in this section, a  taxpayer
    12  must be a New York resident and own a business located in New York.
    13    (b) Definition.  For the purposes of this subdivision, the term "voca-
    14  tional  program"  shall  have  the  same  definition as set forth by the
    15  commissioner of the office of people with developmental disabilities.
    16    (c) Amount of credit. The amount of credit  shall  equal  one  hundred
    17  percent  of  the  purchases made by the taxpayer to a business that is a
    18  vocational program.
    19    (d) Application of credit. If the amount of the credit  allowed  under
    20  this  subdivision  for  any taxable year shall exceed the taxpayer's tax
    21  for such year, the excess shall be treated as an overpayment of  tax  to
    22  be credited or refunded in accordance with the provisions of section six
    23  hundred  eighty-six of this chapter, provided, however, that no interest
    24  shall be paid thereon.
    25    § 4. This act shall take effect immediately and  shall  apply  to  all
    26  taxable years beginning on and after January 1, 2019.