Bill
Bill > A02008
summary
Introduced
01/14/2025
01/14/2025
In Committee
01/14/2025
01/14/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 General Assembly
Bill Summary
AN ACT to amend the tax law and the labor law, in relation to establishing a small business tax credit for the employment of disabled persons; and providing for the repeal of such provisions upon expiration thereof
AI Summary
This bill establishes a small business tax credit program to incentivize employers with 100 or fewer employees to hire disabled persons, providing a tax credit of $5,000 per disabled employee hired, with a maximum credit of $25,000 per business. To qualify, a disabled person must work at least 35 hours per week for six months, and the employer must submit verification of the employee's disability status. A "disabled person" is defined as a New York state resident with a physical, mental, or medical impairment that prevents normal bodily function or can be diagnosed through clinical techniques. The total aggregate tax credits available are limited to $5 million annually, and credits can be carried forward for up to three years if not fully used in the initial tax year. Employers must apply through the commissioner and obtain both preliminary and final certificates of eligibility, which will require detailed documentation about the hired employees. The tax credit program will be in effect from January 1, 2027, to December 31, 2032, and is designed to provide financial support to small businesses that create employment opportunities for individuals with disabilities.
Committee Categories
Budget and Finance
Sponsors (26)
Jenifer Rajkumar (D)*,
Ken Blankenbush (R),
Noah Burroughs (D),
Marianne Buttenschon (D),
William Colton (D),
Maritza Davila (D),
Charles Fall (D),
Jessica González-Rojas (D),
Pamela Hunter (D),
Jonathan Jacobson (D),
Donna Lupardo (D),
Zohran Mamdani (D),
Brian Manktelow (R),
Demond Meeks (D),
Steve Otis (D),
Phil Palmesano (R),
Sam Pirozzolo (R),
Steven Raga (D),
Mike Reilly (R),
Angelo Santabarbara (D),
Nader Sayegh (D),
Rebecca Seawright (D),
Steve Stern (D),
Al Stirpe (D),
Mary Beth Walsh (R),
David Weprin (D),
Last Action
referred to ways and means (on 01/14/2025)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://www.nysenate.gov/legislation/bills/2025/A2008 |
BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A02008&term=2025&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A02008 |
Loading...