Bill > S00910

This bill establishes a new tax credit for businesses that hire veterans and disabled veterans, aiming to incentivize employment for those who have served. Specifically, businesses can receive a credit of $3,000 for each veteran hired and $4,000 for each disabled veteran hired, provided these individuals are new employees who work full-time (35 hours or more per week for veterans, or 17.5 hours or more per week for disabled veterans) and remain employed for at least twelve months. The total amount of this credit a business can claim annually is capped at $15,000, and any unused credit can be carried forward for up to ten years. The bill defines "new employee" in relation to a business's "base employment" (average number of full-time employees in 2026, or zero for new businesses) and "credit employment" (base employment plus previously credited new hires), and it references existing definitions for "veteran" and "disabled veteran" from the civil service law. This tax credit will apply to taxable years beginning on or after January 1, 2027, for employees hired after the bill becomes law.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S910