Bill > S02473

This bill establishes the Fresh Air Jobs Tax Credit to incentivize businesses participating in clean wind energy development in New York state. Starting in 2026, eligible businesses can claim a tax credit for hiring and employing qualified employees who are New York state residents for at least 24 months. The credit is calculated as 10% of the total wages paid to a qualified employee during their second year of employment, with the potential to increase to 15% if the employee was receiving unemployment benefits for at least 13 weeks prior to hiring. The maximum credit is $5,000 per qualified employee, or $10,000 for employees previously receiving unemployment benefits. Employers are prohibited from firing existing employees and rehiring them solely to qualify for the credit. The bill also includes a provision for businesses that provide continuing education or job training to qualified employees, allowing them to claim the credit in the following tax year. Additionally, the New York Department of Taxation and Finance is required to collect and publish data on hiring practices of businesses receiving this tax credit, ensuring transparency and accountability in the program's implementation.