Bill Text: NY S03142 | 2021-2022 | General Assembly | Introduced
Bill Title: Provides assistance to small businesses in the procurement and purchase of personal protective equipment for employees; directs bulk purchasing of PPE by the division for small business; provides a tax credit for the cost of such PPE to small business employers.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2022-03-22 - REPORTED AND COMMITTED TO FINANCE [S03142 Detail]
Download: New_York-2021-S03142-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 3142 2021-2022 Regular Sessions IN SENATE January 27, 2021 ___________ Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when printed to be committed to the Committee on Commerce, Economic Devel- opment and Small Business AN ACT to amend the economic development law and the tax law, in relation to providing assistance to small businesses' employers in the procurement and purchasing of personal protective equipment The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 134 of the economic development law is amended by 2 adding a new subdivision 13 to read as follows: 3 13. make bulk purchases of personal protective equipment (PPE) and 4 make such PPE available, at cost, to small businesses as defined in this 5 article. For purposes of this subdivision "personal protective equipment 6 (PPE)" shall mean all equipment worn or used to minimize exposure to a 7 communicable disease, including but not limited to gloves, masks and 8 faceshields. 9 § 2. Section 210-B of the tax law is amended by adding a new subdivi- 10 sion 55 to read as follows: 11 55. Credit for the purchase of personal protective equipment (PPE) by 12 small business employers. (a) A taxpayer who is a small business, as 13 defined in section one hundred thirty-one of the economic development 14 law, shall be allowed a credit against the tax imposed by this article 15 for the purchase of personal protective equipment (PPE) for use by such 16 taxpayer's employees. The total amount of the credit shall be the cost 17 incurred in purchasing the personal protective equipment (PPE). 18 (b) For the purposes of this subdivision "personal protective equip- 19 ment (PPE)" shall mean all equipment worn or used to minimize exposure 20 to a communicable disease, including but not limited to gloves, masks 21 and faceshields. 22 (c) If the amount of credit allowable under this subdivision shall 23 exceed the taxpayer's tax for such year, the excess may be carried over EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07722-01-1S. 3142 2 1 to the following year or years and may be deducted from the taxpayer's 2 tax for such year or years. 3 (d) If all or any part of the credit provided for under this subdivi- 4 sion was allowed or carried over from a prior taxable year or years, a 5 taxpayer shall reduce the allowable credit for additional qualifying 6 expenditures in a subsequent tax year by the amount of the credit previ- 7 ously allowed or carried over. 8 § 3. Section 606 of the tax law is amended by adding a new subsection 9 (kkk) to read as follows: 10 (kkk) Credit for the purchase of personal protective equipment (PPE) 11 by small business employers. (1) A taxpayer who is a small business, as 12 defined in section one hundred thirty-one of the economic development 13 law, shall be allowed a credit of personal protective equipment (PPE) 14 for use by such taxpayer's employees. The total amount of the credit 15 shall be the cost incurred in purchasing the personal protective equip- 16 ment (PPE). 17 (2) For the purposes of this subsection "personal protective equipment 18 (PPE)" shall mean all equipment worn or used to minimize exposure to a 19 communicable disease, including but not limited to gloves, masks and 20 faceshields. 21 (3) If the amount of credit allowable under this subsection shall 22 exceed the taxpayer's tax for such year, the excess may be carried over 23 to the following year or years and may be deducted from the taxpayer's 24 tax for such year or years. 25 (4) If all or any part of the credit provided for under this 26 subsection was allowed or carried over from a prior taxable year or 27 years, a taxpayer shall reduce the allowable credit for additional qual- 28 ifying expenditures in a subsequent tax year by the amount of the credit 29 previously allowed or carried over. 30 § 4. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 31 of the tax law is amended by adding a new clause (xlvi) to read as 32 follows: 33 (xlvi) Credit for Amount of credit 34 the purchase of personal under subdivision 35 protective equipment (PPE) fifty-five of section 36 by small business employers two hundred ten-B 37 under subsection (kkk) 38 § 5. This act shall take effect immediately; provided that sections 39 two, three and four of this act shall apply to taxable years beginning 40 on and after January 1, 2020.