Bill > A04448

This bill modifies the Employee Training Incentive Program within New York's economic development law by increasing the tax credit percentage for eligible training costs from fifty percent to seventy percent. Under the revised legislation, when a business entity successfully completes approved training programs as defined in the existing law, they can now receive a tax credit equal to seventy percent of their eligible training expenses, with a maximum credit of ten thousand dollars per employee receiving training. The bill also maintains the existing provision for internship training credits, which remain at fifty percent of the intern's stipend, up to three thousand dollars per intern. The tax credits can be claimed by qualified employers according to specific sections of New York's tax law, and the changes will take effect immediately upon enactment. This amendment is designed to provide a more substantial financial incentive for businesses to invest in employee training and skill development.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A4448