New York A 2008: Relates to a small business tax credit for the employment of disabled persons

Bill Text

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A02008 Summary:

BILL NOA02008 

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SAME ASNo Same As

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SPONSORRajkumar

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COSPNSRLupardo, Blankenbush, Colton, Weprin, Stern, Walsh, Hunter, Buttenschon, Otis, Santabarbara,
 Reilly, Seawright, Fall, Palmesano, Stirpe, Manktelow, Gonzalez-Rojas, Jacobson, Meeks, Sayegh,
 Mamdani, Davila, Raga, Burroughs, Pirozzolo

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MLTSPNSR

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Amd §§210-B & 606, Tax L; add §25-d, Lab L

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Establishes a small business tax credit for the employment of disabled persons.

Go to top A02008 Actions:

BILL NOA02008 

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01/14/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA02008 Committee&nbspVotes:

Go to topA02008 Floor&nbspVotes:

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

Go to topA02008 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2008

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 14, 2025
 ___________

 Introduced by M. of A. RAJKUMAR, LUPARDO, BLANKENBUSH, COLTON, WEPRIN,
 STERN, WALSH, HUNTER, BUTTENSCHON, OTIS, SANTABARBARA, REILLY,
 SEAWRIGHT, FALL, PALMESANO, STIRPE, MANKTELOW, GONZALEZ-ROJAS, JACOB-
 SON, MEEKS, SAYEGH, MAMDANI, DAVILA, RAGA -- read once and referred to
 the Committee on Ways and Means

 AN ACT to amend the tax law and the labor law, in relation to establish-
 ing a small business tax credit for the employment of disabled
 persons; and providing for the repeal of such provisions upon expira-
 tion thereof

 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 61 to read as follows:
 3 61. Small business tax credit; disabled persons. (a) General. A
 4 taxpayer who has one hundred employees or less, shall be allowed a cred-
 5 it, to be computed as provided in this subdivision, against the tax
 6 imposed by this article for each disabled person hired during a taxable
 7 year, provided that such disabled person is employed for thirty-five
 8 hours or more per week, remains in the employ of such taxpayer for six
 9 months or more and the employer submits verification that the claimed
 10 employees meet the statutory definition of "disabled person" pursuant to
 11 paragraph (d) of this subdivision.
 12 (b) Amount of credit. A credit authorized by this section shall equal
 13 five thousand dollars per hired disabled person but shall not exceed
 14 twenty-five thousand dollars.
 15 (c) Carryovers. The credit allowed under this subdivision for any
 16 taxable year shall not reduce the tax due for such year to less than the
 17 amount prescribed in paragraph (d) of subdivision one of section two
 18 hundred ten of this article. However, if the amount of credit allowable
 19 under this subdivision for any taxable year reduces the tax to such
 20 amount or if the taxpayer otherwise pays tax based on the fixed dollar

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02442-01-5

 A. 2008 2

 1 minimum amount, any amount of credit not deductible in such taxable year
 2 may be carried over to the following three years and may be deducted
 3 from the taxpayer's tax for such year or years.
 4 (d) Definition. As used in this subdivision, the term "disabled
 5 person" shall mean a resident of the state who has any physical, mental
 6 or medical impairment resulting from anatomical, physiological, genetic
 7 or neurological conditions which prevents the exercise of a normal bodi-
 8 ly function or is demonstrable by medically accepted clinical or labora-
 9 tory diagnostic techniques.
 10 (e) Aggregate amount. The aggregate amount of tax credits allowed
 11 pursuant to the authority of this subdivision and subsection (qqq) of
 12 section six hundred six of this chapter shall be five million dollars
 13 each year. Such aggregate amounts of credits shall be allocated by the
 14 commissioner. If the total amount of allocated credits applied for in
 15 any particular year exceeds the aggregate amount of tax credits allowed
 16 for such year under this section, such excess shall be treated as having
 17 been applied for on the first day of the subsequent year.
 18 (f) Claim of credit. A taxpayer shall not be allowed to claim this