New York A 175: Creates a tax credit for businesses that develop a "college to work" program, paying the tuition of individuals in exchange for future employment

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 Speaker Carl E. Heastie

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A00175 Summary:

BILL NOA00175 

&nbsp

SAME ASNo Same As

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SPONSORAngelino

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COSPNSRBendett, Brabenec, Lemondes, Manktelow, McDonough, Miller, Morinello, Tague, Giglio

&nbsp

MLTSPNSR

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Amd §§210-B & 606, Tax L

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Creates a tax credit for businesses that develop a "college to work" program, paying the tuition of individuals in exchange for the individual committing to work for the business after the individual's graduation from an institution of higher learning; provides the tax credit shall be for twenty-five percent of the individual's tuition expenses not to exceed five thousand dollars.

Go to top A00175 Actions:

BILL NOA00175 

&nbsp

01/08/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA00175 Committee&nbspVotes:

Go to topA00175 Floor&nbspVotes:

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

Go to topA00175 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 175

 2025-2026 Regular Sessions

 IN ASSEMBLY

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by M. of A. ANGELINO, BENDETT, BRABENEC, LEMONDES, MANKTELOW,
 McDONOUGH, MILLER, MORINELLO, TAGUE -- read once and referred to the
 Committee on Ways and Means

 AN ACT to amend the tax law, in relation to establishing a credit for
 developing a college to work program

 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. Credit for college to work program. (a) Allowance of credit. A
 4 taxpayer shall be allowed a credit, to be computed as hereinafter
 5 provided, against the tax imposed by this article, based upon its
 6 payment of tuition to an institution of higher education on behalf of an
 7 individual in exchange for the individual agreeing to work for the
 8 taxpayer for a number of years, as set forth in a written agreement
 9 between the taxpayer and the individual.
 10 (b) Tuition. For the purposes of this credit, the term "tuition" shall
 11 mean the tuition and fees paid for the enrollment and attendance of an
 12 individual at an institution of higher education, as well as monies paid
 13 for textbooks in connection with attendance at an institution of higher
 14 education. Provided, however, any amounts which have been paid for or
 15 reimbursed by any other scholarships or financial aid, or tuition
 16 required for enrollment or attendance in a course of study leading to
 17 the granting of a post baccalaureate or other graduate degree, shall be
 18 excluded from the definition of "tuition".
 19 (c) Institution of higher education. For the purposes of this credit,
 20 the term "institution of higher education" shall mean any institution of
 21 higher education, recognized and approved by the regents, or any succes-
 22 sor organization, of the university of the state of New York or accred-
 23 ited by a nationally recognized accrediting agency or association

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01143-01-5

 A. 175 2

 1 accepted as such by the regents, or any successor organization, of the
 2 university of the state of New York, which provides a course of study
 3 leading to the granting of a post-secondary degree, certificate or
 4 diploma.
 5 (d) Qualified individual. For purposes of this credit, the term "qual-
 6 ified individual" shall mean any individual who is not a spouse, child
 7 or dependent of the taxpayer or any individual who is not a spouse,
 8 child or dependent of any officer or employee of the taxpayer.
 9 (e) Written agreement. For purposes of this credit, the term "written
 10 agreement" shall mean a document signed and dated by both the taxpayer
 11 and the qualified individual which contains provisions including but not
 12 limited to the minimum salary which the taxpayer will pay to the quali-
 13 fied individual upon completion of the individual's degree; the required
 14 duration of employment upon completion of the individual's degree; and
 15 the parties' respective responsibilities in the event that the taxpayer
 16 ceases operations or later decides not to offer employment to the indi-
 17 vid