New York S 910: Relates to farm tractors and self propelled machines used primarily for agricultural purposes

Bill Text

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S00910 Summary:

BILL NOS00910A

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SAME ASSAME AS A09672

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SPONSORSANDERS

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COSPNSRWEBER

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MLTSPNSR

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Amd §§210-B & 606, Tax L

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Establishes a returning veterans tax credit for businesses that hire veterans and disabled veterans; provides that such tax credit is worth $3,000 per veteran hired or $4,000 for every disabled veteran hired and the total benefit shall not exceed $15,000 annually.

Go to top S00910 Actions:

BILL NOS00910A

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01/08/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

01/16/2026AMEND AND RECOMMIT TO BUDGET AND REVENUE

01/16/2026PRINT NUMBER 910A

Go to topS00910 Committee&nbspVotes:

Go to topS00910 Floor&nbspVotes:

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

Go to topS00910 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 910--A

 2025-2026 Regular Sessions

 IN SENATE

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by Sens. SANDERS, WEBER -- read twice and ordered printed,
 and when printed to be committed to the Committee on Budget and Reven-
 ue -- recommitted to the Committee on Budget and Revenue in accordance
 with Senate Rule 6, sec. 8 -- committee discharged, bill amended,
 ordered reprinted as amended and recommitted to said committee

 AN ACT to amend the tax law, in relation to establishing a returning
 veterans tax credit for businesses that hire veterans and disabled
 veterans

 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 63 to read as follows:
 3 63. Returning veterans tax credit. (a) General. A taxpayer shall be
 4 allowed a credit, to be computed as provided in this subdivision,
 5 against the tax imposed by this article for each veteran or disabled
 6 veteran hired during a taxable year, provided that:
 7 (i) such veteran is a new employee and is employed for thirty-five
 8 hours or more per week and remains in the employ of such taxpayer for
 9 twelve months or more; or
 10 (ii) such disabled veteran is a new employee who is employed for
 11 seventeen and one-half hours or more per week and remains in the employ
 12 of such taxpayer for twelve months or more.
 13 (b) Amount of credit. A credit authorized by this section shall equal
 14 three thousand dollars per hired veteran and four thousand dollars per
 15 hired disabled veteran but shall not exceed fifteen thousand dollars
 16 annually.
 17 (c) Carryovers. The credit allowed under this subdivision may be
 18 claimed and if not fully used in the initial year for which the credit
 19 is claimed may be carried over, in order, to each of the ten succeeding

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD03038-02-6

 S. 910--A 2

 1 taxable years. The credit authorized by this subdivision may not be used
 2 to reduce the tax liability of the credit claimant below zero.
 3 (d) Definitions. As used in this subdivision, the following terms
 4 shall have the following meanings:
 5 (i) "New employee" shall mean any full time employee that causes the
 6 total number of employees to increase above base employment or credit
 7 employment, whichever is higher.
 8 (ii) "Base year" shall mean calendar year two thousand twenty-six.
 9 (iii) "Base employment" shall mean the average number of full time
 10 employees or full time equivalent employees during the base year. For a
 11 new business, base employment shall begin at zero.
 12 (iv) "Credit employment" shall mean base employment plus the number of
 13 new employees for which a credit is earned for the prior tax years.
 14 (v) "Veteran" shall have the same meaning as set forth in section
 15 eighty-five of the civil service law.
 16 (vi) "Disabled veteran" shall have the same meaning as set forth in
 17 section eighty-five of the civil service law.
 18 § 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 19 of the tax law is amended by adding a new clause (liii) to read as
 20 follows:
 21 (liii) Returning veterans tax Costs under subdivision
 22 credit; subsection (www) sixty-three of section
 23 two hundred ten-B
 24 § 3. Section 606 of the tax law is ame