New York A 6340: Authorizes Bret Steve to receive certain service credit under section 384-d of the retirement and social security law

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
A06340 Summary:

BILL NOA06340 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORPeoples-Stokes

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §§210-B & 606, Tax L

&nbsp

Establishes business franchise and personal income tax credits for a portion of the consideration paid under a contract with a minority or women-owned business.

Go to top A06340 Actions:

BILL NOA06340 

&nbsp

03/04/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA06340 Committee&nbspVotes:

Go to topA06340 Floor&nbspVotes:

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

Go to topA06340 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6340

 2025-2026 Regular Sessions

 IN ASSEMBLY

 March 4, 2025
 ___________

 Introduced by M. of A. PEOPLES-STOKES -- read once and referred to the
 Committee on Ways and Means

 AN ACT to amend the tax law, in relation to establishing business fran-
 chise and personal income tax credits for certain businesses which
 contract with the state or political subdivisions thereof and in unre-
 lated contracts, also with minority and women-owned business enter-
 prises

 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 28 to read as follows:
 3 28. Minority and women-owned business employment incentive credit. (a)
 4 General. A taxpayer shall be allowed a credit, to be computed as
 5 provided in this subdivision, against the tax imposed by this article
 6 for a certain portion of the consideration paid to a minority or women-
 7 owned business enterprise pursuant to a contract for the provision of
 8 goods or services. The credit provided for in this subdivision shall be
 9 allowed with respect to the tax year in which the consideration is paid
 10 to the minority or women-owned business enterprise.
 11 (b) Definitions. For the purposes of this subdivision, the following
 12 terms shall mean:
 13 (i) "Government agency" means a state agency or a state authority as
 14 defined in subdivision eleven of section three hundred ten of the execu-
 15 tive law, or a political subdivision as defined in subdivision one of
 16 section one hundred of the general municipal law.
 17 (ii) "Minority or women-owned business enterprise" means a minority-
 18 owned business enterprise as defined in subdivision seven of section
 19 three hundred ten of the executive law or a women-owned business enter-
 20 prise as defined in subdivision fifteen of section three hundred ten of
 21 the executive law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02027-01-5

 A. 6340 2

 1 (c) Computation. The credit authorized by this subdivision shall be
 2 equal to one-third of all expenditures paid by the taxpayer to a minori-
 3 ty or women-owned business enterprise pursuant to a contract for the
 4 provision of goods and services during the tax year, provided that such
 5 contract was not subject to the provisions of article fifteen-A of the
 6 executive law or any other provision of law mandating contracts with a
 7 minority or women-owned business, and the taxpayer is not a minority or
 8 women-owned business enterprise. Furthermore, the amount of such credit
 9 shall not exceed the lesser of fifteen thousand dollars or five percent
 10 of all consideration paid to the taxpayer during the tax year pursuant
 11 to contracts with government agencies for the provision of goods or
 12 services. For companies with no contracts with government agencies, the
 13 amount of the credit shall not exceed fifteen thousand dollars.
 14 (d) Carryover. In no event shall the credit authorized by this subdi-
 15 vision be allowed in an amount which shall reduce the tax payable to
 16 less than the fixed dollar minimum amount prescribed in paragraph (d) of
 17 subdivision one of section two hundred ten of this article. Provided,
 18 however, that if the amount of credit allowed under this subdivision for
 19 any taxable year reduces the tax to such amount or if the taxpayer
 20 otherwise pays tax based on the fixed dollar minimum amount, any amount
 21 of credit not deductible in such taxable year may be carried over to t