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- Referred to investigations and government operations
- Referred to investigations and government operations
Companion bill
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Provides tax credit for employers of workers who were receiving public assistance immediately preceding such employment
In Assembly Committee · Ways And Means · Sponsor Keith L.T. Wright
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S1225
Title of bill
An act to amend the tax law, in relation to providing a tax credit for employers who employ workers who were receiving public assistance
Purpose
Provides a tax credit as an incentive for private employers to hire workers who were previously on public assistance.
Summary of provisions
Adds a new § 200 to the tax law, to provide a $1,000 per-employee credit to any employer who employs, for at least one year at over 30 hours per week, a worker who was a public assistance recipient for the two years preceding such employment.
Justification
Public assistance recipients often lack adequate education, skills, and experience that most jobs require, so employers are reluctant to hire them. They often do not have access to or are unaware of the resources that can provide them with the basic necessities for success in private industry. This bill will motivate employers of the private industry to seek out, train and employ these workers, so the State's volume of productive, competent individuals will increase. Financial independence will also be encouraged by this legislation, so reliance on public assistance will be reduced and New York State's economic status will continue to improve.
Fiscal implications
The legislation would result in a reduction in State tax revenue of approximately $34 million for SFY 2010-11.
*Provided by State of New York Department of Taxation and Finance, Office of Tax Policy Analysis.
Legislative history
2011-12: S.1373 - Referred to Investigations & Government Operations 2009-10: S.1131 - Referred to Investigations & Government Operations 2007-08: S.2918 - Referred to Investigations, Taxation & Government Operations 2005-06: S.961 - Referred to Investigations, Taxation & Government Operations 2003-04: S.2247 - Referred to Investigations, Taxation & Government Operations 2001-02: S.1650/A.2638 - Referred to Investigations, Taxation & Government Operations
Effective date
Effective immediately upon enactment into law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.