What's happening
This bill repeals the minimum wage reimbursement tax credit in New York, ending related tax law provisions effective January 1, 2017.
Why it matters
Removes a financial incentive for businesses to hire minimum wage workers. By repealing the minimum wage reimbursement tax credit, employers will no longer receive state tax credits for employing workers at the minimum wage, which may impact hiring decisions, especially for small businesses.
Potentially increases state revenue. The elimination of the tax credit could increase state tax collections, as businesses will no longer be able to reduce their tax liabilities via this credit.
May affect job opportunities for low-wage workers. Without the incentive for hiring minimum wage employees, some employers might be less inclined to hire entry-level or low-skilled workers, potentially impacting those seeking to enter the workforce.
Reflects a policy shift in labor and tax strategy. The repeal indicates a move away from using tax credits as a tool to offset the costs of higher minimum wages, signaling a change in how the state balances business incentives with labor protections.
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Who cares
Headline styles
End Wage Credit Program
Plain English, a few words. Used as the page title.
Sponsors
History
- Referred to ways and means
- Referred to ways and means
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2658
2017-2018 Regular Sessions
IN ASSEMBLY
January 20, 2017
Introduced by M. of A. SIMOTAS, COLTON, STIRPE, BLAKE, HYNDMAN -- read once and referred to the Committee on Ways and Means
AN ACT to repeal certain provisions of the tax law relating to the minimum wage reimbursement credit
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 38 of the tax law, as added by section 1 of part EE of chapter 59 of the laws of 2013, is REPEALED.
§ 2. Section 187-s of the tax law is REPEALED.
§ 3. Subdivision 40 of section 210-B of the tax law is REPEALED.
§ 4. Clause (xxxv) of subparagraph (B) of paragraph 1 of subsection (i) of section 606 of the tax law, as added by section 4 of part EE of chapter 59 of the laws of 2013, is REPEALED.
§ 5. Subsection (aaa) of section 606 of the tax law is REPEALED.
§ 6. Subdivision (cc) of section 1511 of the tax law is REPEALED.
§ 7. This act shall take effect immediately and shall apply to tax years commencing on or after January 1, 2017.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04540-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.