Bill Text: NY S04988 | 2017-2018 | General Assembly | Introduced

---

Bill Title: Provides a tax credit for newly hired SUNY college faculty members and administrators who are minorities and who have relocated to New York to work at a SUNY campus.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2017-03-03 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S04988 Detail]

Download: New_York-2017-S04988-Introduced.html

---

                STATE OF NEW YORK
        ________________________________________________________________________
                                          4988
                               2017-2018 Regular Sessions
                    IN SENATE
                                      March 3, 2017
                                       ___________
        Introduced  by Sens. DIAZ, COMRIE -- read twice and ordered printed, and
          when printed to be committed to the Committee  on  Investigations  and
          Government Operations
        AN  ACT  to amend the tax law, in relation to providing a tax credit for
          certain newly hired SUNY college faculty members and administrators
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Section  606  of  the  tax law is amended by adding a new
     2  subsection (ccc) to read as follows:
     3    (ccc) Employee relocation; state university of New York campus credit.
     4  (1) For taxable years beginning on January first, two thousand nineteen,
     5  a resident taxpayer who is a newly hired faculty member  or  administra-
     6  tor, who relocated to New York to work at a state university of New York
     7  campus, and who is a minority, shall be allowed a credit against the tax
     8  imposed  by  this  article  equal  to thirty percent of his or her gross
     9  income. Such qualified persons shall have been  hired  to  work  at  any
    10  state  university campus excluding those campuses in Nassau, Westchester
    11  and Putnam counties. For purposes  of  this  section,  the  term  "newly
    12  hired"  shall  mean  faculty  members  and  administrators  who  are not
    13  currently employed by the state university of New York.
    14    (2) If the amount of the credit allowed under this subsection for  any
    15  taxable  year  shall exceed the taxpayer's tax for such year, the excess
    16  shall be treated as an overpayment of tax to be credited or refunded  in
    17  accordance with the provisions of section six hundred eighty-six of this
    18  article, provided, however, that no interest shall be paid thereon.
    19    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07376-01-7