Bill Text: NY S06538 | 2011-2012 | General Assembly | Introduced

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Bill Title: Provides that a taxpayer shall not be eligible for any credit or credits provided by section 210 of the tax law for the purposes of engaging in a development project, the cost of which exceeds one million dollars, unless such taxpayer has submitted a statement that 85% of the labor force hired to complete such development project consists of residents of this state.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-02-23 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S06538 Detail]

Download: New_York-2011-S06538-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6538
                                   I N  S E N A T E
                                   February 23, 2012
                                      ___________
       Introduced  by Sen. GRISANTI -- 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 the employment of  New  York
         state residents by taxpayers eligible to receive certain tax credits
         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 45 to read as follows:
    3    45.  EMPLOYMENT  OF NEW YORK STATE RESIDENTS. (A) A TAXPAYER SHALL NOT
    4  BE ENTITLED TO RECEIVE ANY CREDIT OR CREDITS PROVIDED  BY  THIS  SECTION
    5  FOR  THE PURPOSE OF ENGAGING IN A DEVELOPMENT PROJECT, THE COST OF WHICH
    6  EXCEEDS ONE MILLION DOLLARS, UNLESS SUCH TAXPAYER HAS  SUBMITTED,  ON  A
    7  FORM  AND  IN  A  MANNER  TO  BE DETERMINED BY THE COMMISSIONER, A SWORN
    8  STATEMENT IN WRITING, UNDER OATH, ALONG WITH SUCH SUPPORTING  DOCUMENTA-
    9  TION  AS  THE  COMMISSIONER MAY REQUIRE, THAT EIGHTY-FIVE PERCENT OF THE
   10  LABOR FORCE HIRED TO COMPLETE SUCH DEVELOPMENT PROJECT DURING THE  TAXA-
   11  BLE YEAR FOR WHICH SUCH STATEMENT IS SUBMITTED CONSISTED OF RESIDENTS OF
   12  THIS  STATE.    FOR  PURPOSES OF THIS SUBDIVISION, "DEVELOPMENT PROJECT"
   13  SHALL MEAN THE REHABILITATION, IMPROVEMENT, CONSTRUCTION OR ACQUISITION,
   14  SINGLY OR IN COMBINATION, OF ONE OR MORE BUILDINGS OR STRUCTURES.
   15    (B) NOTWITHSTANDING THE FOREGOING, A TAXPAYER SUBJECT TO THIS SUBDIVI-
   16  SION MAY RECEIVE ANY CREDIT PROVIDED BY THIS  SECTION  IF  IT  CAN  SHOW
   17  THAT:
   18    (I)  IT  MADE DILIGENT EFFORTS TO HIRE RESIDENT EMPLOYEES, BUT NO SUCH
   19  EMPLOYEES EXISTED OR WERE QUALIFIED FOR THE EMPLOYMENT POSITION;
   20    (II) THE EMPLOYMENT POSITION REQUIRES  SPECIALIZED  TALENTS  THAT  CAN
   21  ONLY  BE  FILLED BY INDIVIDUALS WHO HAPPEN TO RESIDE OUTSIDE THIS STATE;
   22  OR
   23    (III) AT THE TIME OF SUCH SUBMISSION, A LABOR FORCE HAS NOT  YET  BEEN
   24  HIRED  TO  COMPLETE THE DEVELOPMENT PROJECT BUT THAT EIGHTY-FIVE PERCENT
   25  OF THE LABOR FORCE THAT SUCH TAXPAYER INTENDS TO HIRE  IN  THE  UPCOMING
   26  TAXABLE YEAR OR YEARS WILL CONSIST OF RESIDENTS OF THIS STATE.
   27    S  2.  This  act shall take effect on the ninetieth day after it shall
   28  have become a law and shall apply to any credit claimed on or after such
   29  effective date.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD13998-07-2