Bill > S04863

This bill establishes the COVID-19 Recovery Local Employment Tax Credit Program to provide tax incentives for employers who hire local employees in the two years following the state's COVID-19 disaster emergency. The program allows qualified employers to receive tax credits for hiring local employees who meet specific criteria, such as living within 50 miles of the employer, residing in certain populous cities or towns, being low-income or at-risk, and previously unemployed due to COVID-19. Employers can receive up to $750 per month for six months for full-time employees (or $375 for part-time employees), with additional credits of $1,500 for continued employment for another six months and an extra year. The total tax credit allocation is capped at $40 million, and employers must apply after January 1st following the disaster emergency's conclusion but no later than June 1st. The commissioner of labor will oversee the program, establish guidelines, and give preference to employers in demand industries like clean energy, healthcare, and advanced manufacturing. To participate, employers must allow tax information sharing and provide access to their records, and they will receive a preliminary and then a final certificate of tax credit based on their qualified employee hiring and retention.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S4863