Changes the definition of "employment number" with respect to empire zones to include employees of contract operators

BILL NUMBER:S984A

Title of bill

An act to amend the tax law, in relation to the definition of employment number with respect to the empire zones program to allow for the eligibility of employees of contract operators

Purpose or general idea of bill

To change the definition of "employment number" with respect to empire zones to include employees of contract operators.

Summary of specific provisions

Section one amends the tax law, in relation to the definition of employment number with respect to the empire zones program to allow for the eligibility of employees of contract operators.

Section two sets the enacting date.

Justification

This legislation proposes changes to the Empire Zone program to better account for the true employment benefit certain projects bring to empire zones, recognizing the employees of contract operators in the calculation of the employment number.

Certain businesses located within Empire Zones maintain an increase in employment number, in accordance with Empire Zone program requirements. However, they actually create more full time jobs in the Empire Zone than they receive credit for in the calculation of the employment number through employment of a contract operators.

These jobs would not exist but for the businesses facility located within the Empire Zone. This legislation would simply allow such employees to count in the calculation of employment number, thereby fully recognizing the increase in jobs caused by the business in the Empire Zone.

Prior legislative history

S.7445 (2012)

Fiscal implications

None.

Effective date

This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2014.