Bill Text: NY A06982 | 2015-2016 | General Assembly | Introduced

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Bill Title: Establishes business franchise and personal income tax credits for a portion of the consideration paid under a contract with a minority- or women-owned business.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-01-06 - referred to ways and means [A06982 Detail]

Download: New_York-2015-A06982-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6982
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                    April 16, 2015
                                      ___________
       Introduced  by  M. of A. PEOPLES-STOKES -- read once and referred to the
         Committee on Ways and Means
       AN ACT to amend the tax law, in relation to establishing business  fran-
         chise  and  personal  income  tax credits for certain businesses which
         contract with the state or political subdivisions thereof and in unre-
         lated contracts, also with minority and  women-owned  business  enter-
         prises
         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 28 to read as follows:
    3    28. MINORITY AND WOMEN-OWNED BUSINESS EMPLOYMENT INCENTIVE CREDIT. (A)
    4  GENERAL.  A  TAXPAYER  SHALL  BE  ALLOWED  A  CREDIT,  TO BE COMPUTED AS
    5  PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED  BY  THIS  ARTICLE
    6  FOR  A CERTAIN PORTION OF THE CONSIDERATION PAID TO A MINORITY OR WOMEN-
    7  OWNED BUSINESS ENTERPRISE PURSUANT TO A CONTRACT FOR  THE  PROVISION  OF
    8  GOODS  OR SERVICES. THE CREDIT PROVIDED FOR IN THIS SUBDIVISION SHALL BE
    9  ALLOWED WITH RESPECT TO THE TAX YEAR IN WHICH THE CONSIDERATION IS  PAID
   10  TO THE MINORITY OR WOMEN-OWNED BUSINESS ENTERPRISE.
   11    (B)  DEFINITIONS.  FOR THE PURPOSES OF THIS SUBDIVISION, THE FOLLOWING
   12  TERMS SHALL MEAN:
   13    (I) "GOVERNMENT AGENCY" MEANS A STATE AGENCY OR A STATE  AUTHORITY  AS
   14  DEFINED IN SUBDIVISION ELEVEN OF SECTION THREE HUNDRED TEN OF THE EXECU-
   15  TIVE  LAW,  OR  A POLITICAL SUBDIVISION AS DEFINED IN SUBDIVISION ONE OF
   16  SECTION ONE HUNDRED OF THE GENERAL MUNICIPAL LAW.
   17    (II)  "MINORITY  OR   WOMEN-OWNED   BUSINESS   ENTERPRISE"   MEANS   A
   18  MINORITY-OWNED  BUSINESS  ENTERPRISE  AS DEFINED IN SUBDIVISION SEVEN OF
   19  SECTION THREE HUNDRED TEN OF THE EXECUTIVE LAW OR A WOMEN-OWNED BUSINESS
   20  ENTERPRISE AS DEFINED IN SUBDIVISION FIFTEEN OF  SECTION  THREE  HUNDRED
   21  TEN OF THE EXECUTIVE LAW.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD00157-01-5
       A. 6982                             2
    1    (C)  COMPUTATION.  THE  CREDIT AUTHORIZED BY THIS SUBDIVISION SHALL BE
    2  EQUAL TO ONE-THIRD OF ALL EXPENDITURES PAID BY THE TAXPAYER TO A MINORI-
    3  TY OR WOMEN-OWNED BUSINESS ENTERPRISE PURSUANT TO  A  CONTRACT  FOR  THE
    4  PROVISION  OF GOODS AND SERVICES DURING THE TAX YEAR, PROVIDED THAT SUCH
    5  CONTRACT  WAS  NOT SUBJECT TO THE PROVISIONS OF ARTICLE FIFTEEN-A OF THE
    6  EXECUTIVE LAW OR ANY OTHER PROVISION OF LAW RELATING TO THE  AFFIRMATIVE
    7  ACTION,  AND  THE  TAXPAYER  IS  NOT  A MINORITY OR WOMEN-OWNED BUSINESS
    8  ENTERPRISE.  FURTHERMORE, THE AMOUNT OF SUCH  CREDIT  SHALL  NOT  EXCEED
    9  FIVE  PERCENT  OF  ALL CONSIDERATION PAID TO THE TAXPAYER DURING THE TAX
   10  YEAR PURSUANT TO CONTRACTS WITH GOVERNMENT AGENCIES FOR THE PROVISION OF
   11  GOODS OR SERVICES.
   12    S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
   13  of  the  tax  law  is  amended  by  adding a new clause (xli) to read as
   14  follows:
   15  (XLI) MINORITY AND                   AMOUNT OF CREDIT
   16  WOMEN-OWNED BUSINESS                 UNDER SUBDIVISION
   17  EMPLOYMENT INCENTIVE                 TWENTY-EIGHT OF
   18  CREDIT UNDER                         SECTION TWO
   19  SUBSECTION (CCC)                     HUNDRED TEN-B
   20    S 3. Section 606 of the tax law is amended by adding a new  subsection
   21  (ccc) to read as follows:
   22    (CCC)  MINORITY  AND WOMEN-OWNED BUSINESS EMPLOYMENT INCENTIVE CREDIT.
   23  (1) GENERAL. A TAXPAYER SHALL BE ALLOWED A  CREDIT  TO  BE  COMPUTED  AS
   24  PROVIDED IN THIS SUBSECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR
   25  A CERTAIN PORTION OF THE CONSIDERATION PAID TO A MINORITY OR WOMEN-OWNED
   26  BUSINESS ENTERPRISE PURSUANT TO A CONTRACT FOR THE PROVISION OF GOODS OR
   27  SERVICES.    THE CREDIT PROVIDED FOR IN THIS SUBSECTION SHALL BE ALLOWED
   28  WITH RESPECT TO THE TAX YEAR IN WHICH THE CONSIDERATION IS PAID  TO  THE
   29  MINORITY OR WOMEN-OWNED BUSINESS ENTERPRISE.
   30    (2)  DEFINITIONS.  FOR  THE PURPOSES OF THIS SUBSECTION, THE FOLLOWING
   31  TERMS SHALL MEAN:
   32    (I) "GOVERNMENT AGENCY" MEANS A STATE AGENCY OR A STATE  AUTHORITY  AS
   33  DEFINED IN SUBDIVISION ELEVEN OF SECTION THREE HUNDRED TEN OF THE EXECU-
   34  TIVE  LAW,  OR  A POLITICAL SUBDIVISION AS DEFINED IN SUBDIVISION ONE OF
   35  SECTION ONE HUNDRED OF THE GENERAL MUNICIPAL LAW.
   36    (II)  "MINORITY  OR   WOMEN-OWNED   BUSINESS   ENTERPRISE"   MEANS   A
   37  MINORITY-OWNED  BUSINESS  ENTERPRISE  AS DEFINED IN SUBDIVISION SEVEN OF
   38  SECTION THREE HUNDRED TEN OF THE EXECUTIVE LAW OR A WOMEN-OWNED BUSINESS
   39  ENTERPRISE AS DEFINED IN SUBDIVISION FIFTEEN OF  SECTION  THREE  HUNDRED
   40  TEN OF THE EXECUTIVE LAW.
   41    (3)  COMPUTATION.  THE  CREDIT  AUTHORIZED BY THIS SUBSECTION SHALL BE
   42  EQUAL TO ONE-THIRD OF ALL EXPENDITURES PAID BY THE TAXPAYER TO A MINORI-
   43  TY OR WOMEN-OWNED BUSINESS ENTERPRISE PURSUANT TO  A  CONTRACT  FOR  THE
   44  PROVISION  OF GOODS AND SERVICES DURING THE TAX YEAR, PROVIDED THAT SUCH
   45  CONTRACT WAS NOT SUBJECT TO THE PROVISIONS OF ARTICLE FIFTEEN-A  OF  THE
   46  EXECUTIVE  LAW  OR  ANY  OTHER  PROVISION OF LAW RELATING TO AFFIRMATIVE
   47  ACTION, AND THE TAXPAYER IS  NOT  A  MINORITY  OR  WOMEN-OWNED  BUSINESS
   48  ENTERPRISE.    FURTHERMORE,  THE  AMOUNT OF SUCH CREDIT SHALL NOT EXCEED
   49  FIVE PERCENT OF ALL CONSIDERATION PAID TO THE TAXPAYER  DURING  THE  TAX
   50  YEAR PURSUANT TO CONTRACTS WITH GOVERNMENT AGENCIES FOR THE PROVISION OF
   51  GOODS OR SERVICES.
   52    S  4. This act shall take effect on the first of January next succeed-
   53  ing the date on which it shall have become a law and shall apply to  tax
   54  years commencing on or after such date.