Creates a $1,500 wage tax credit for employers who employ New York national guard members, reservists, volunteer firefighters and EMS personnel.
Impact
If enacted, A09673 would modify existing tax law to include these new provisions, thereby providing fiscal relief to eligible employers. This approach is expected to encourage job creation within these crucial sectors, potentially reducing hiring costs associated with these employees. The proposal aligns with broader efforts to foster economic growth and community support by offering financial incentives for the employment of active and former military personnel as well as local emergency responders.
Summary
Bill A09673 aims to create a wage tax credit of $1,500 for employers in New York who hire members of the National Guard, Reservists, volunteer firefighters, and emergency medical services (EMS) personnel. This credit is intended to incentivize businesses to employ individuals who serve in these vital community roles, reinforcing the state’s commitment to supporting both its military and emergency workforce. The bill specifies that to qualify for this credit, the employee must have been employed for a minimum duration of six months, and employers must comply with relevant federal laws, such as the Uniformed Services Employment and Reemployment Rights Act.
Contention
However, the bill may face scrutiny regarding its long-term sustainability and the broader implications of tax credits on state revenue. Critics might argue that while it promotes the employment of essential personnel, it could also set a precedent for increased tax expenditures that might challenge the state’s budget. Supporters assert that the potential increase in employment and community service justifies the tax credit, arguing it reflects a necessary investment in the state’s future.
Same As
Creates a $1,500 wage tax credit for employers who employ New York national guard members, reservists, volunteer firefighters and EMS personnel.
Allows volunteer firefighters or emergency services personnel to attend training required under 19 NYCRR 426 without being penalized by their employer; creates tax incentives for employing volunteer firefighters or emergency services personnel.
Establishes the New York smart work week pilot program to promote, incentivize and support the use of a four-day work week by qualifying employers and to study the benefits and impacts of such work arrangements; defines terms; establishes a tax credit for participating qualifying employers and employees.