Bill Text: NY S04810 | 2019-2020 | General Assembly | Introduced


Bill Title: Relates to a minimum wage reimbursement credit.

Spectrum: Partisan Bill (Republican 8-0)

Status: (Introduced) 2019-03-26 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S04810 Detail]

Download: New_York-2019-S04810-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          4810
                               2019-2020 Regular Sessions
                    IN SENATE
                                     March 26, 2019
                                       ___________
        Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Investigations and Govern-
          ment Operations
        AN ACT to amend the tax law, in relation to minimum  wage  reimbursement
          credit
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Section 38 of the tax law, as added by section 1 of part EE
     2  of chapter 59 of the laws of 2013, is renumbered section 44 and subdivi-
     3  sions (b) and (c) are amended to read as follows:
     4    (b) An eligible employer is a corporation  (including  a  New  York  S
     5  corporation),  a  sole  proprietorship, a limited liability company or a
     6  partnership. An eligible employee is an individual who is  (i)  employed
     7  by an eligible employer in New York state, (ii) paid at the minimum wage
     8  rate  as defined in article nineteen of the labor law during the taxable
     9  year by the eligible employer, (iii) between the  ages  of  sixteen  and
    10  nineteen  during  the  period in which he or she is paid at such minimum
    11  wage rate by the eligible employer, and (iv) a student during the period
    12  in which he or she is paid at such minimum wage rate  by  the  taxpayer.
    13  For  taxable  years  beginning  on and after January first, two thousand
    14  nineteen, an eligible employee is an individual who is (i)  employed  by
    15  an  eligible  employer  in New York state, (ii) paid at a rate that does
    16  not exceed the minimum wage rate as defined in article nineteen  of  the
    17  labor  law  plus  fifty  cents  during  the taxable year by the eligible
    18  employer, (iii) between the ages of  sixteen  and  nineteen  during  the
    19  period in which he or she is paid at such rate that does not exceed such
    20  minimum  wage rate plus fifty cents by the eligible employer, and (iv) a
    21  student during the period in which he or she is paid at such  rate  that
    22  does not exceed such minimum wage rate plus fifty cents by the taxpayer.
    23    (c)  For  taxable years beginning on or after January first, two thou-
    24  sand fourteen and before January first, two thousand fifteen, the amount
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10872-01-9

        S. 4810                             2
     1  of the credit allowed under this section shall be equal to  the  product
     2  of  the total number of hours worked during the taxable year by eligible
     3  employees for which they were paid at the minimum wage rate  as  defined
     4  in  article  nineteen  of  the labor law and [seventy five] seventy-five
     5  cents. For taxable years beginning on or after January first, two  thou-
     6  sand  fifteen and before January first, two thousand sixteen, the amount
     7  of the credit allowed under this section shall be equal to  the  product
     8  of  the total number of hours during the taxable year worked by eligible
     9  employees for which they were paid at such minimum  wage  rate  and  one
    10  dollar  and  thirty-one  cents.  For taxable years beginning on or after
    11  January first, two thousand sixteen and before January first, two  thou-
    12  sand nineteen, the amount of the credit allowed under this section shall
    13  be  equal to the product of the total number of hours during the taxable
    14  year worked by eligible employees for which they were paid at such mini-
    15  mum wage rate and one dollar and thirty-five cents.  For  taxable  years
    16  beginning  on  or  after January first, two thousand nineteen and before
    17  January first, two thousand twenty-two, the amount of the credit allowed
    18  under this section shall be equal to the product of the total number  of
    19  hours  during  the  taxable  year worked by eligible employees for which
    20  they were paid at a rate that does not exceed  such  minimum  wage  rate
    21  plus  fifty cents and one dollar and thirty-five cents. Provided, howev-
    22  er, if the federal minimum wage established by federal law  pursuant  to
    23  29  U.S.C.  section 206 or its successors is increased above eighty-five
    24  percent of the minimum wage in article nineteen of the  labor  law,  the
    25  dollar  amounts  in  this subdivision shall be reduced to the difference
    26  between the minimum wage in article nineteen of the labor  law  and  the
    27  federal minimum wage.  Such reduction would take effect on the date that
    28  employers are required to pay such federal minimum wage.
    29    § 2. This act shall take effect immediately and shall apply to taxable
    30  years beginning on and after January 1, 2019.
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