Bill Text: NY A04825 | 2009-2010 | General Assembly | Introduced

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Bill Title: An act to amend the tax law, in relation to establishing a tax credit for training expenses for emerging technology employees

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-01-06 - referred to ways and means [A04825 Detail]

Download: New_York-2009-A04825-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         4825
                              2009-2010 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 6, 2009
                                      ___________
       Introduced  by M. of A. MORELLE -- read once and referred to the Commit-
         tee on Ways and Means
       AN ACT to amend the tax law, in relation to establishing  a  tax  credit
         for training expenses for emerging technology employees
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Section 210 of the tax law  is  amended  by  adding  a  new
    2  subdivision 41 to read as follows:
    3    41.  TAX  CREDIT FOR TRAINING EXPENSES FOR EMERGING TECHNOLOGY EMPLOY-
    4  EES. (A) A TAXPAYER SHALL BE ALLOWED A CREDIT FOR TRAINING  EXPENSES  OF
    5  EMPLOYEES  INVOLVED  WITH  EMERGING  TECHNOLOGY.  TO BE ELIGIBLE FOR THE
    6  CREDIT, TRAINING EXPENSES MUST BE FOR FULL-TIME  EMPLOYEES  INVOLVED  IN
    7  THE  DEVELOPMENT,  MODIFICATION  OR IMPROVEMENT OF EQUIPMENT AND SYSTEMS
    8  THAT INVOLVE ADVANCED  COMPUTER  SOFTWARE  AND  HARDWARE,  VISUALIZATION
    9  TECHNOLOGIES,  HUMAN  INTERFACE  TECHNOLOGIES,  AS  WELL  AS PRODUCTS OR
   10  SERVICES WITH INTERACTIVE MEDIA CONTENT  INVOLVING  ELECTRONIC  DISTRIB-
   11  UTION  OR  ELECTRONIC COMMERCE. SUCH TECHNOLOGIES SHALL INCLUDE, BUT ARE
   12  NOT LIMITED TO, THE  FOLLOWING:  OPERATING  AND  APPLICATIONS  SOFTWARE,
   13  ARTIFICIAL  INTELLIGENCE,  COMPUTER  MODELING AND SIMULATION, HIGH-LEVEL
   14  SOFTWARE LANGUAGES, NEURAL NETWORKS, PROCESSOR  ARCHITECTURE,  ANIMATION
   15  AND  FULL-MOTION  VIDEO,  GRAPHICS  HARDWARE  AND  SOFTWARE,  SPEECH AND
   16  OPTICAL  CHARACTER  RECOGNITION,  HIGH-VOLUME  INFORMATION  STORAGE  AND
   17  RETRIEVAL,  DATA COMPRESSION, BROADBAND SWITCHING, MULTIPLEXING, DIGITAL
   18  SIGNAL PROCESSING AND SPECTRUM TECHNOLOGIES.
   19    (B) TO QUALIFY AS ELIGIBLE EXPENSES, THE TRAINING UNDERTAKEN  MUST  BE
   20  TO  MAINTAIN  OR  IMPROVE A SKILL REQUIRED BY THE EMPLOYEE IN HIS OR HER
   21  EMPLOYMENT OR THE TRAINING  IS  REQUIRED  TO  RETAIN  SALARY  STATUS  OR
   22  EMPLOYMENT. THE TRAINING MAY TAKE PLACE OUTSIDE THE STATE AS LONG AS THE
   23  EMPLOYEE'S  POSITION  IS  LOCATED WITHIN THE STATE, AND MAY INCLUDE, BUT
   24  NOT BE LIMITED TO, TRAINING TAKEN THROUGH INSTRUCTIONAL PROGRAMS, OR THE
   25  PURCHASE OF MATERIALS, SUPPLIES,  TEXTBOOKS,  MANUALS,  VIDEOTAPES,  AND
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD08315-01-9
       A. 4825                             2
    1  OTHER  INSTRUCTIONAL MEDIA AND EQUIPMENT, THROUGH THE INTERNET. TRAINING
    2  EXPENSES FOR WHICH A CREDIT IS ALLOWABLE AND  CLAIMED  UNDER  ANY  OTHER
    3  PROVISION OF THIS SECTION MAY NOT BE CLAIMED UNDER THIS SUBDIVISION.
    4    (C)  THE  CREDIT SHALL BE EQUAL TO TWENTY-FIVE PERCENT OF TOTAL QUALI-
    5  FIED TRAINING EXPENSES INCURRED DURING THE TAXABLE  YEAR.  IN  NO  EVENT
    6  SHALL  THE CREDIT UNDER THIS SUBDIVISION, AND CARRYOVERS OF SUCH CREDIT,
    7  ALLOWED UNDER THIS SUBDIVISION REDUCE THE TAX PAYABLE TO LESS  THAN  THE
    8  DOLLAR AMOUNT FIXED AS A MINIMUM TAX BY PARAGRAPH (D) OF SUBDIVISION ONE
    9  OF  THIS SECTION. HOWEVER, IF THE AMOUNT OF CREDIT OR CARRYOVERS OF SUCH
   10  CREDIT, OR BOTH, ALLOWED UNDER THIS SUBDIVISION  FOR  ANY  TAXABLE  YEAR
   11  REDUCES  THE  TAX  TO SUCH AMOUNT, ANY AMOUNT OF CREDIT OR CARRYOVERS OF
   12  SUCH CREDIT THUS NOT USED IN SUCH TAXABLE YEAR MAY BE  CARRIED  OVER  TO
   13  THE  FOLLOWING YEAR OR YEARS AND MAY BE CLAIMED AS A CREDIT IN COMPUTING
   14  THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS. IN ADDITION, THE TAXPAYER MAY
   15  ELECT, ON ITS REPORT FOR ITS TAXABLE YEAR WITH  RESPECT  TO  WHICH  SUCH
   16  CREDIT  IS ALLOWED, TO TREAT THE AMOUNT OF SUCH CARRYOVER AS AN OVERPAY-
   17  MENT OF TAX TO BE CREDITED OR REFUNDED. ANY REFUND PAID PURSUANT TO THIS
   18  PARAGRAPH SHALL BE DEEMED TO BE A  REFUND  OF  AN  OVERPAYMENT  OF  TAX,
   19  PROVIDED, HOWEVER, NO INTEREST SHALL BE PAID THEREON.
   20    S 2. This act shall take effect immediately and shall be applicable to
   21  taxable years beginning on or after January 1, 2009.