New York S 5594: Creates the incentivizing habitability opportunity program

Bill Text

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S05594 Summary:

BILL NOS05594 

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SAME ASNo Same As

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SPONSORFERNANDEZ

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COSPNSR

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MLTSPNSR

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Amd §§210-B & 606, Tax L

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Establishes a $1,500 tax credit for each eligible immigrant worker hired and retained for at least six months by a small business.

Go to top S05594 Actions:

BILL NOS05594 

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02/25/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS05594 Committee&nbspVotes:

Go to topS05594 Floor&nbspVotes:

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

Go to topS05594 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5594

 2025-2026 Regular Sessions

 IN SENATE

 February 25, 2025
 ___________

 Introduced by Sen. FERNANDEZ -- 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 a tax credit
 for small businesses employing an eligible immigrant worker

 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. Immigrant worker tax credit. A taxpayer shall be allowed a credit
 4 against the tax imposed by this article, in an amount of one thousand
 5 five hundred dollars for each eligible immigrant worker hired during a
 6 taxable year and retained for full-time employment for at least six
 7 months. Such tax credit shall be applicable only to businesses employing
 8 fifty or fewer employees.
 9 § 2. Section 606 of the tax law is amended by adding a new subsection
 10 (qqq) to read as follows:
 11 (qqq) Immigrant worker tax credit. A taxpayer shall be allowed a cred-
 12 it against the tax imposed by this article, of one thousand five hundred
 13 dollars for each eligible immigrant worker hired during a taxable year
 14 and retained for full-time employment for at least six months. Such tax
 15 credit shall be applicable only to businesses employing fifty or fewer
 16 employees.
 17 § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 18 of the tax law is amended by adding a new clause (lii) to read as
 19 follows:

 20 (lii) Immigrant worker tax Amount of credit under
 21 credit under subsection (qqq) subdivision sixty-one of
 22 section two hundred ten-B

 23 § 4. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09027-01-5

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