What's happening
The bill creates a tax exemption for up to $50,000 per year for five years for individuals hired into high-tech jobs after completing a qualifying program.
Why it matters
Targets new high-tech talent. By exempting up to $50,000 of income for five years, the bill provides a substantial financial incentive for individuals to pursue and remain in high-tech careers within New York, potentially addressing talent shortages in a critical sector.
Links education to employment. The exemption only applies to those hired into high-tech jobs within one year of completing a qualifying program, encouraging recent graduates to enter the workforce quickly and ensuring the benefit is focused on new entrants.
Flexible and adaptable definitions. By allowing state commissioners to define what counts as a “high-tech program” and a “high-tech job,” the bill can adapt over time to evolving industries and educational pathways, potentially covering a broad range of jobs and training options as technology changes.
Potential to stimulate economic growth. Attracting and retaining more high-tech workers could help New York remain competitive in technology-driven industries, foster innovation, and support the growth of local businesses that rely on a skilled technical workforce.
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Who cares
Headline styles
Tax Breaks for Tech Workers
Plain English, a few words. Used as the page title.
Sponsors
History
- Held for consideration in ways and means
- 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
4418
2017-2018 Regular Sessions
IN ASSEMBLY
February 2, 2017
Introduced by M. of A. KOLB, OAKS, WALTER, PALMESANO, RAIA, HAWLEY, BARCLAY, KEARNS -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to creating high-tech worker-NY
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. This act shall be known and may be cited as "high-tech worker-NY".
§ 2. Subsection (c) of section 612 of the tax law is amended by adding a new paragraph 44 to read as follows:
(44) For taxable years beginning on and after January first, two thousand seventeen, the income of a taxpayer, that has completed a high-tech program and has been hired to work in a high-tech job within one year of completing a high-tech program, up to fifty thousand dollars per taxable year for five consecutive years. A "high-tech program" will be defined by the commissioner of education, which may include any college, vocational, or certification program. A "high-tech job" will be defined by the commissioner of economic development.
§ 3. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03356-01-7
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.