Bill Text: NY A08385 | 2011-2012 | General Assembly | Introduced

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Bill Title: Establishes a small business tax credit for the employment of disabled persons.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2012-05-07 - print number 8385a [A08385 Detail]

Download: New_York-2011-A08385-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         8385
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                     June 15, 2011
                                      ___________
       Introduced by M. of A. CUSICK -- read once and referred to the Committee
         on Ways and Means
       AN  ACT  to amend the tax law, in relation to establishing a small busi-
         ness tax credit for the employment of disabled persons
         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 43 to read as follows:
    3    43. SMALL BUSINESS  TAX  CREDIT;  DISABLED  PERSONS.  (A)  GENERAL.  A
    4  TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
    5  IT,  TO  BE  COMPUTED  AS  PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX
    6  IMPOSED BY THIS ARTICLE FOR EACH DISABLED PERSON HIRED DURING A  TAXABLE
    7  YEAR,  PROVIDED  THAT  SUCH  DISABLED PERSON IS EMPLOYED FOR THIRTY-FIVE
    8  HOURS OR MORE PER WEEK AND REMAINS IN THE EMPLOY OF  SUCH  TAXPAYER  FOR
    9  TWELVE MONTHS OR MORE.
   10    (B)  AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL EQUAL
   11  FIVE THOUSAND DOLLARS PER HIRED DISABLED PERSON  BUT  SHALL  NOT  EXCEED
   12  TWENTY-FIVE THOUSAND DOLLARS.
   13    (C)  CARRYOVERS.  THE  CREDIT  ALLOWED  UNDER  THIS SUBDIVISION MAY BE
   14  CLAIMED AND IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH  THE  CREDIT
   15  IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
   16  TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
   17  TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
   18    (D)  DEFINITIONS.  AS  USED  IN  THIS  SUBDIVISION, THE TERM "DISABLED
   19  PERSON" SHALL MEAN A PERSON WHO SUFFERS FROM  ANY  PHYSICAL,  MENTAL  OR
   20  MEDICAL  IMPAIRMENT RESULTING FROM ANATOMICAL, PHYSIOLOGICAL, GENETIC OR
   21  NEUROLOGICAL CONDITIONS WHICH PREVENTS THE EXERCISE OF A  NORMAL  BODILY
   22  FUNCTION OR IS DEMONSTRABLE BY MEDICALLY ACCEPTED CLINICAL OR LABORATORY
   23  DIAGNOSTIC TECHNIQUES.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10081-02-1
       A. 8385                             2
    1    S  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
    2  of the tax law is amended by adding a new  clause  (xxxii)  to  read  as
    3  follows:
    4  (XXXII) SMALL BUSINESS TAX CREDIT;   COSTS UNDER SUBDIVISION
    5  DISABLED PERSONS                     FORTY-THREE OF SECTION
    6  SUBSECTION (SS)                      TWO HUNDRED TEN
    7    S 3.  Section 606 of the tax law is amended by adding a new subsection
    8  (ss) to read as follows:
    9    (SS)  SMALL  BUSINESS  TAX  CREDIT;  DISABLED  PERSONS. (1) GENERAL. A
   10  TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
   11  IT, TO BE COMPUTED AS PROVIDED  IN  THIS  SUBSECTION,  AGAINST  THE  TAX
   12  IMPOSED  BY THIS ARTICLE FOR EACH DISABLED PERSON HIRED DURING A TAXABLE
   13  YEAR, PROVIDED THAT SUCH DISABLED PERSON  IS  EMPLOYED  FOR  THIRTY-FIVE
   14  HOURS  OR  MORE  PER WEEK AND REMAINS IN THE EMPLOY OF SUCH TAXPAYER FOR
   15  TWELVE MONTHS OR MORE.
   16    (2) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
   17  FIVE  THOUSAND  DOLLARS  PER  HIRED DISABLED PERSON BUT SHALL NOT EXCEED
   18  TWENTY-FIVE THOUSAND DOLLARS.
   19    (3) CARRYOVERS. THE  CREDIT  ALLOWED  UNDER  THIS  SUBSECTION  MAY  BE
   20  CLAIMED  AND  IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH THE CREDIT
   21  IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
   22  TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBSECTION MAY NOT BE  USED
   23  TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
   24    (4)  DEFINITIONS.  AS  USED  IN  THIS  SUBSECTION,  THE TERM "DISABLED
   25  PERSON" SHALL MEAN A PERSON WHO SUFFERS FROM  ANY  PHYSICAL,  MENTAL  OR
   26  MEDICAL  IMPAIRMENT RESULTING FROM ANATOMICAL, PHYSIOLOGICAL, GENETIC OR
   27  NEUROLOGICAL CONDITIONS WHICH PREVENTS THE EXERCISE OF A  NORMAL  BODILY
   28  FUNCTION OR IS DEMONSTRABLE BY MEDICALLY ACCEPTED CLINICAL OR LABORATORY
   29  DIAGNOSTIC TECHNIQUES.
   30    S 4. This act shall take effect immediately and shall apply to taxable
   31  years beginning on or after January 1, 2012.