New York S 2429: Provides certain immigrants with confidential consultation and assistance on potential petitions for executive clemency

Bill Text

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S02429 Summary:

BILL NOS02429A

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SAME ASNo Same As

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SPONSORSKOUFIS

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COSPNSRADDABBO, CLEARE, FAHY, FERNANDEZ, GOUNARDES, HOYLMAN-SIGAL, JACKSON, MAY, RYAN C, RYAN S, SALAZAR,
 SCARCELLA-SPANTON

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MLTSPNSR

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Add §50, amd §§210-B, 606 & 1511, Tax L

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Creates a work opportunity tax credit.

Go to top S02429 Actions:

BILL NOS02429A

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01/17/2025REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

03/10/2025AMEND AND RECOMMIT TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

03/10/2025PRINT NUMBER 2429A

04/07/2025REPORTED AND COMMITTED TO FINANCE

01/07/2026REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Go to topS02429 Committee&nbspVotes:

Go to topS02429 Floor&nbspVotes:

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

Go to topS02429 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2429--A

 2025-2026 Regular Sessions

 IN SENATE

 January 17, 2025
 ___________

 Introduced by Sens. SKOUFIS, ADDABBO, FAHY, GOUNARDES, HOYLMAN-SIGAL,
 JACKSON, MAY, C. RYAN, S. RYAN, SALAZAR -- read twice and ordered
 printed, and when printed to be committed to the Committee on Investi-
 gations and Government Operations -- committee discharged, bill
 amended, ordered reprinted as amended and recommitted to said commit-
 tee

 AN ACT to amend the tax law, in relation to creating a work opportunity
 tax credit; and providing for the repeal of such provisions upon expi-
 ration thereof

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

 1 Section 1. The tax law is amended by adding a new section 50 to read
 2 as follows:
 3 § 50. Work opportunity tax credit. (a) General. A taxpayer subject to
 4 tax under article nine-A, twenty-two, or thirty-three of this chapter
 5 shall be allowed a credit against such tax in an amount as determined
 6 under section 51 of the internal revenue code that is attributable to
 7 qualified wages paid to a New York resident who is a member of a target-
 8 ed group and for whom a certificate to that effect has been issued by
 9 the department of labor. In the event of the repeal of section 51 of
 10 the internal revenue code, this credit would be calculated as if such
 11 section remained in full force and effect.
 12 (b) Definitions. The terms "qualified wages" and "targeted group"
 13 shall have the same meanings as in section 51 of the internal revenue
 14 code.
 15 (c) Effect on other tax credits. Wages which are the basis of the
 16 credit under this section shall not be used as the basis for any other
 17 credit allowed under this chapter.
 18 (d) Limit on tax credits issued. Over the lifetime of the tax credit,
 19 the total amount of tax credits provided for under this section shall

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00450-03-5

 S. 2429--A 2

 1 not exceed ninety million dollars in total, or thirty million dollars
 2 for each taxable year.
 3 (e) Cross-references. For application of the credit provided for in
 4 this section, see the following provisions of this chapter:
 5 (1) article 9-A: section 210-B, subdivision 61;
 6 (2) article 22: section 606, subsection (bbb);
 7 (3) article 33: section 1511, subdivision (ff).
 8 § 2. Section 210-B of the tax law is amended by adding a new subdivi-
 9 sion 61 to read as follows:
 10 61. Work opportunity tax credit. (a) Allowance of credit. A taxpayer
 11 shall be allowed a credit, to be computed as provided in section fifty
 12 of this chapter, against the tax imposed by this article. Such credit
 13 shall not exceed five hundred dollars per eligible employee per year in
 14 any given tax year.
 15 (b) Application of credit. The credit allowed under this subdivision
 16 for any taxable year shall not reduce the tax due for such year to less
 17 than the amount prescribed in paragraph (d) of subdivision one of
 18 section two hundred ten of this article. However, if the amount of the
 19 credit allowed under this subdivision for any taxable year reduces the
 20 tax to such amount or if the taxpayer otherwise pays tax based on the
 21 fixed dollar minimum amount, any amount of credit thus not deductible in
 22 such taxable year will be treated as an overpa