Bill > S02720

This bill creates two new tax credits to incentivize employers in New York to hire and retain members of the New York National Guard, reservists, volunteer firefighters, and emergency medical services (EMS) personnel. Under the bill, employers can claim a $1,500 tax credit for each qualifying employee who has been employed for at least six months. The credits are designed to offset taxes owed, and if the credit amount exceeds the employer's tax liability in a given year, the excess can be carried forward to future years or refunded. The bill requires employers to comply with the Uniformed Services Employment and Reemployment Rights Act, which protects the job rights of individuals who serve in the military. The tax credits apply to taxable years beginning on or after January 1, 2027, and are intended to provide financial support to employers who hire and support service members, volunteer firefighters, and EMS personnel, recognizing their important contributions to public service and community safety.

Budget and Finance

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