New York S 6756: Relates to the one-call notification system

Bill Text

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S06756 Summary:

BILL NOS06756A

&nbsp

SAME ASSAME AS A07567

&nbsp

SPONSORHOYLMAN-SIGAL

&nbsp

COSPNSRCOMRIE, FERNANDEZ, JACKSON, MAY, RYAN C

&nbsp

MLTSPNSR

&nbsp

Amd §492, Ec Dev L; amd §§49 & 606, Tax L

&nbsp

Includes not-for-profit corporations and public television or radio corporations in the definition of business entity; allows such entities to claim the newspaper and broadcast media jobs tax credit.

Go to top S06756 Actions:

BILL NOS06756A

&nbsp

03/24/2025REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS

03/25/2025AMEND AND RECOMMIT TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS

03/25/2025PRINT NUMBER 6756A

05/21/20251ST REPORT CAL.1276

05/22/20252ND REPORT CAL.

05/27/2025ADVANCED TO THIRD READING 

06/05/2025PASSED SENATE

06/05/2025DELIVERED TO ASSEMBLY

06/05/2025referred to economic development

Go to topS06756 Committee&nbspVotes:

Go to topS06756 Floor&nbspVotes:

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

Go to topS06756 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6756--A

 2025-2026 Regular Sessions

 IN SENATE

 March 24, 2025
 ___________

 Introduced by Sens. HOYLMAN-SIGAL, MAY -- read twice and ordered print-
 ed, and when printed to be committed to the Committee on Commerce,
 Economic Development and Small Business -- committee discharged, bill
 amended, ordered reprinted as amended and recommitted to said commit-
 tee

 AN ACT to amend the economic development law, in relation to the defi-
 nition of business entity; and to amend the tax law, in relation to
 the allowance and application of the newspaper and broadcast media
 jobs tax credit

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

 1 Section 1. Section 492 of the economic development law is amended by
 2 adding a new subdivision 14 to read as follows:
 3 14. "Business entity" shall include, but not be limited to, a not-for-
 4 profit corporation and a public television or radio corporation.
 5 § 2. Subdivision (a) of section 49 of the tax law, as added by section
 6 3 of part AAA of chapter 56 of the laws of 2024, is amended to read as
 7 follows:
 8 (a) Allowance of credit. A taxpayer subject to tax under article
 9 nine-A or article twenty-two of this chapter shall be allowed a credit
 10 against such tax, pursuant to the provisions referenced in subdivision
 11 (e) of this section. The amount of the credit is equal to the amount
 12 determined pursuant to article twenty-seven of the economic development
 13 law. Notwithstanding that a taxpayer is not subject to tax under arti-
 14 cle nine-A or article twenty-two of this chapter, if the taxpayer is a
 15 corporation to which article one of the not-for-profit corporation law
 16 applies, or a public television or a radio corporation under section two
 17 hundred thirty-six of the education law, it shall be allowed a credit
 18 against the tax provided in this section. A taxpayer that is a partner
 19 in a partnership, member of a limited liability company or shareholder
 20 in a subchapter S corporation shall be allowed its pro-rata share of the

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11212-02-5

 S. 6756--A 2

 1 credit allowed for the partnership, limited liability company or
 2 subchapter S corporation. No cost or expense paid or incurred that is
 3 included as part of the calculation of this credit shall be the basis of
 4 any other tax credit allowed under this chapter.
 5 § 3. Subparagraph 2 of subsection (ppp) of section 606 of the tax law,
 6 as added by section 5 of part AAA of chapter 56 of the laws of 2024, is
 7 amended to read as follows:
 8 (2) Application of credit. If the amount of the credit allowed under
 9 this subsection for the taxable year exceeds the taxpayer's tax for such
 10 year, or, if the taxpayer is a corporation to which article one of the
 11 not-for-profit corporation law applies or a public television or a radio
 12 corporation under section two hundred thirty-six of the education law,
 13 and has no tax for the credit allowed herein to offset, the excess shall
 14 be treated as an overpayment of tax to be