Bill Text: NY A10920 | 2019-2020 | General Assembly | Introduced
Bill Title: Establishes a tax credit of up to $5,000 for the purchase of personal protective equipment (PPE) by employers who employ less than 500 people.
Spectrum: Moderate Partisan Bill (Democrat 13-2)
Status: (Introduced - Dead) 2020-08-17 - referred to ways and means [A10920 Detail]
Download: New_York-2019-A10920-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 10920 IN ASSEMBLY August 17, 2020 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Reyes) -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to establishing a tax credit for the purchase of personal protective equipment (PPE) by employers 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 55 to read as follows: 3 55. Credit for the purchase of personal protective equipment (PPE) by 4 employers. (a) A taxpayer shall be allowed a credit against the tax 5 imposed by this article for the purchase of personal protective equip- 6 ment (PPE) for use by such taxpayer's employees. The total amount of the 7 credit shall be the cost incurred in purchasing the personal protective 8 equipment (PPE) not to exceed a maximum credit of five thousand dollars. 9 (b) For the purposes of this subdivision, the following terms shall 10 have the following meanings: 11 (i) "taxpayer" shall mean any employer resident in this state employ- 12 ing five hundred or less persons. 13 (ii) "personal protective equipment (PPE)" shall mean all equipment 14 worn or used to minimize exposure to a communicable disease, including 15 but not limited to gloves, masks and faceshields. 16 (c) If the amount of credit allowable under this subdivision shall 17 exceed the taxpayer's tax for such year, the excess may be carried over 18 to the following year or years and may be deducted from the taxpayer's 19 tax for such year or years. 20 (d) If all or any part of the credit provided for under this subdivi- 21 sion was allowed or carried over from a prior taxable year or years, a 22 taxpayer shall reduce the allowable credit for additional qualifying 23 expenditures in a subsequent tax year by the amount of the credit previ- 24 ously allowed or carried over. 25 § 2. Section 606 of the tax law is amended by adding a new subsection 26 (kkk) to read as follows: 27 (kkk) Credit for the purchase of personal protective equipment (PPE) 28 by employers. (1) A taxpayer shall be allowed a credit of personal EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD16648-01-0A. 10920 2 1 protective equipment (PPE) for use by such taxpayer's employees. The 2 total amount of the credit shall be the cost incurred in purchasing the 3 personal protective equipment (PPE) not to exceed a maximum credit of 4 five thousand dollars. 5 (2) For the purposes of this subsection, the following terms shall 6 have the following meanings: 7 (i) "taxpayer" shall mean any employer resident in this state employ- 8 ing five hundred or less persons. 9 (ii) "personal protective equipment (PPE)" shall mean all equipment 10 worn or used to minimize exposure to a communicable disease, including 11 but not limited to gloves, masks and faceshields. 12 (3) If the amount of credit allowable under this subsection shall 13 exceed the taxpayer's tax for such year, the excess may be carried over 14 to the following year or years and may be deducted from the taxpayer's 15 tax for such year or years. 16 (4) If all or any part of the credit provided for under this 17 subsection was allowed or carried over from a prior taxable year or 18 years, a taxpayer shall reduce the allowable credit for additional qual- 19 ifying expenditures in a subsequent tax year by the amount of the credit 20 previously allowed or carried over. 21 § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 22 of the tax law is amended by adding a new clause (xlvi) to read as 23 follows: 24 (xlvi) Credit for Amount of credit 25 the purchase of personal under subdivision 26 protective equipment (PPE) fifty-five of section 27 by employers under subsection two hundred ten-B 28 (kkk) 29 § 4. This act shall take effect immediately, and shall apply to the 30 taxable year in which it takes effect and all subsequent taxable years.