What's happening
This bill creates a five-year income tax credit for certain retired New York State managerial or confidential employees who missed salary increases in 2009-2010.
Why it matters
Addresses a specific fairness issue. The bill aims to compensate retired state managerial and confidential employees who missed out on salary increases in 2009-2010, recognizing a long-standing pay inequity that affected this group during the state’s fiscal crisis.
Targets a narrow group. Only those who both held qualifying positions and retired (or will retire) between April 1, 2009, and March 31, 2020, are eligible, focusing the benefit on those directly impacted by the withheld raises.
Provides meaningful financial relief. The tax credit—up to $1,000 per year for five years—may help offset the lasting effects of lost earnings on pensions and retirement savings, particularly for those who retired before the salary was eventually restored.
Allows flexibility in benefit use. If a retiree can’t use the full credit in one tax year, they can carry it forward or backward for up to three years, ensuring the intended compensation is not lost due to timing of retirement or tax liability.
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Who cares
Headline styles
Tax Credit for State Retirees
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Print number 5211c
- Amend and recommit to ways and means
- Referred to ways and means
- Print number 5211b
- Amend and recommit to ways and means
- Print number 5211a
- Amend and recommit to ways and means
- Referred to ways and means
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Tax Credit for State Retirees
In Senate Committee · Investigations And Government Operations · Sponsor Catharine Young
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5211--C
2017-2018 Regular Sessions
IN ASSEMBLY
February 7, 2017
Introduced by M. of A. FAHY -- read once and referred to the Committee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- again reported from said committee with amendments, ordered reprinted as amended and recommitted to said committee -- recommitted to the Committee on Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee
AN ACT to amend the tax law, in relation to establishing a personal income tax credit for certain employees who served in a position or positions in the classified service of the state of New York designated managerial or confidential pursuant to article fourteen of the civil service law
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 606 of the tax law is amended by adding a new subsection (ccc) to read as follows:
(ccc) Management/confidential personal income tax credit. (1) A taxpayer who served in a position or positions in the classified service of the state of New York designated managerial or confidential pursuant to article fourteen of the civil service law and has retired or is retiring between April first, two thousand nine and March thirty-first, two thousand twenty and had a salary increase authorized under chapter ten of the laws of two thousand eight which was withheld for the fiscal years two thousand nine and/or two thousand ten shall be allowed a credit against the tax imposed by this article of up to one thousand dollars annually for five years. The comptroller shall certify to the department a listing of all such taxpayers deemed eligible as defined above.
(2) Any tax credit not used in the taxable year of retirement may be carried forward or backwards for three calendar years until the full credit has been allowed.
§ 2. This act shall take effect immediately and shall apply to taxable years beginning on and after January 1, 2018.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09296-04-8
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.