What's happening
This bill creates a tax credit for New York businesses that make purchases from vocational programs for people with developmental disabilities.
Why it matters
Creates a strong financial incentive for New York businesses to purchase goods or services from vocational programs serving people with developmental disabilities, potentially increasing market opportunities and revenue for these programs.
Defines “vocational program” specifically according to the Office for People With Developmental Disabilities, ensuring that the tax credit targets programs serving individuals with developmental disabilities and not general workforce training programs.
Offers a refundable tax credit (up to 100% of the purchase amount), meaning businesses could receive a refund even if the credit exceeds their tax liability, which could significantly motivate participation but also has budget implications for the state.
Aims to support the employment and skill development of people with developmental disabilities by boosting demand for the products or services they create, potentially leading to greater social inclusion and long-term cost savings on support services.
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Who cares
New York resident business owners
Those who own New York businesses could claim a refundable tax credit equal to 100% of purchases from qualifying vocational programs.
Businesses operating as vocational programs
The credit would give eligible customers a tax incentive to buy from them.
Office for People With Developmental Disabilities
Its commissioner's definition of a vocational program would determine which programs qualify for the purchase incentive.
Headline styles
Tax Credit for Vocational Purchases
Plain English, a few words. Used as the page title.
Sponsors
6 Co-sponsors
1 Multi-sponsor
History
- Held for consideration in ways and means
- Referred to ways and means
- Referred to ways and means
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2590
2019-2020 Regular Sessions
IN ASSEMBLY
January 24, 2019
Introduced by M. of A. CROUCH, DiPIETRO, GIGLIO, LAWRENCE, MORINELLO, NORRIS -- Multi-Sponsored by -- M. of A. HAWLEY -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to creating a doing business with a vocational program tax credit
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 (jjj) to read as follows:
(jjj) Doing business with a vocational program tax credit. (1) Allowance of credit. A taxpayer who owns a business that makes purchases from a vocational program shall be allowed a credit, to be computed as provided in paragraph three of this subsection, against the tax imposed by this article. To qualify for the credit provided in this section, a taxpayer must be a New York resident and own a business located in New York.
(2) Definition. For the purposes of this subsection, the term "vocational program" shall have the same definition as set forth by the commissioner of the office of people with developmental disabilities.
(3) Amount of credit. The amount of credit shall equal one hundred percent of the purchases made by the taxpayer to a business that is a vocational program.
(4) Application of credit. If the amount of the credit allowed under this subsection for any taxable year shall exceed the taxpayer's tax for such year, the excess shall be treated as an overpayment of tax to be credited or refunded in accordance with the provisions of section six hundred eighty-six of this article, provided, however, that no interest shall be paid thereon.
§ 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 of the tax law is amended by adding a new clause (xliv) to read as follows:
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03051-01-9
A. 2590 2
(xliv) Doing business with a Amount of credit vocational program under subdivision tax credit under fifty-three of section subsection (jjj) two hundred ten-B
§ 3. Section 210-B of the tax law is amended by adding a new subdivision 53 to read as follows:
53. Doing business with a vocational program tax credit. (a) Allowance of credit. A taxpayer who owns a business that makes purchases from a vocational program shall be allowed a credit, to be computed as provided in paragraph (c) of this subdivision, against the tax imposed by this article. To qualify for the credit provided in this section, a taxpayer must be a New York resident and own a business located in New York.
(b) Definition. For the purposes of this subdivision, the term "vocational program" shall have the same definition as set forth by the commissioner of the office of people with developmental disabilities.
(c) Amount of credit. The amount of credit shall equal one hundred percent of the purchases made by the taxpayer to a business that is a vocational program.
(d) Application of credit. If the amount of the credit allowed under this subdivision for any taxable year shall exceed the taxpayer's tax for such year, the excess shall be treated as an overpayment of tax to be credited or refunded in accordance with the provisions of section six hundred eighty-six of this chapter, provided, however, that no interest shall be paid thereon.
§ 4. This act shall take effect immediately and shall apply to all taxable years beginning on and after January 1, 2019.
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.