Bill > S02720

This bill establishes a new wage tax credit for employers in New York State, offering a $1,500 credit for each qualifying individual they employ. Specifically, employers can claim this credit for each member of the New York National Guard and reserves they hire, provided these individuals have been employed for at least six months and the employer complies with the Uniformed Services Employment and Reemployment Rights Act (USERRA), a federal law protecting the job rights of those who serve in the uniformed services. Additionally, employers can receive the same $1,500 credit for each volunteer firefighter and emergency medical services (EMS) first responder they employ, also requiring at least six months of employment. The bill clarifies that this credit cannot reduce an employer's tax liability below a minimum amount, and any excess credit can be treated as an overpayment for refund or credit in future tax years, though no interest will be paid on these overpayments. The provisions of this act are set to take effect immediately and apply to taxable years beginning on or after January 1, 2028.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S2720