New York S 1262: Establishes certain credits against income tax for nurses

Bill Text

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S01262 Summary:

BILL NOS01262 

&nbsp

SAME ASSAME AS A04563

&nbsp

SPONSORGALLIVAN

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §606, Tax L

&nbsp

Establishes a five hundred dollar credit against income tax for nurses employed on a full-time basis for not less than six months and nurses teaching at institutions of higher education on and after January 1, 2026.

Go to top S01262 Actions:

BILL NOS01262 

&nbsp

01/08/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS01262 Committee&nbspVotes:

Go to topS01262 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS01262 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1262

 2025-2026 Regular Sessions

 IN SENATE

 January 8, 2025
 ___________

 Introduced by Sen. GALLIVAN -- read twice and ordered printed, and when
 printed to be committed to the Committee on Budget and Revenue

 AN ACT to amend the tax law, in relation to establishing certain credits
 against income tax for nurses

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 606 of the tax law is amended by adding two new
 2 subsections (qqq) and (rrr) to read as follows:
 3 (qqq) Credit for full-time nurses. (1) Amount of credit. For taxable
 4 years beginning on or after January first, two thousand twenty-six, a
 5 taxpayer shall be allowed a credit against the tax imposed by this arti-
 6 cle, where the taxpayer is licensed as a registered professional nurse
 7 or licensed practical nurse pursuant to article one hundred thirty-nine
 8 of the education law and has been employed on a full-time basis within
 9 this state as a nurse for not less than six months during the taxable
 10 year. The amount of such credit shall be five hundred dollars. For
 11 purposes of this subsection, the term "employed on a full-time basis"
 12 shall mean employment of not less than thirty hours per week.
 13 (2) Application of credit. If the amount of credit allowed under this
 14 subsection for any taxable year exceeds the taxpayer's tax for such
 15 year, the excess will be treated as an overpayment to be credited or
 16 refunded in accordance with the provisions of section six hundred eight-
 17 y-six of this article, provided, however, that no interest will be paid
 18 thereon.
 19 (rrr) Credit for teaching nurses. (1) Amount of credit. For taxable
 20 years beginning on or after January first, two thousand twenty-six, a
 21 taxpayer shall be allowed a credit against the tax imposed by this arti-
 22 cle, where the taxpayer is licensed as a registered professional nurse
 23 or licensed practical nurse pursuant to article one hundred thirty-nine
 24 of the education law and who teaches nursing at an institution of higher
 25 education for not less than six months during the taxable year. The

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04118-01-5

 S. 1262 2

 1 amount of such credit shall be five hundred dollars. For purposes of
 2 this subsection, the term "institution of higher education" shall mean
 3 any institution of higher education or business, trade, technical or
 4 other occupational school, recognized and approved by the regents, or
 5 any successor organization, of the university of the state of New York
 6 or accredited by a nationally recognized accrediting agency or associ-
 7 ation accepted as such by the regents, or any successor organization, of
 8 the university of the state of New York, which provides a course of
 9 study leading to the granting of a post-secondary degree, certificate or
 10 diploma.
 11 (2) Application of credit. If the amount of the credit allowed under
 12 this subsection for any taxable year exceeds the taxpayer's tax for such
 13 year, the excess will be treated as an overpayment to be credited or
 14 refunded in accordance with the provisions of section six hundred eight-
 15 y-six of this article, provided, however, that no interest will be paid
 16 thereon.
 17 § 2. This act shall take effect immediately.

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