S 4248 New York Senate · 2025 Regular Session

Provides for a job creation tax credit

Summary
Provides a 50% tax credit for new income tax revenue generated by a new employee; provides credit may be taken up to 10 years; provides that the Department of Economic Development must monitor and certify the additional employment for any business which applies for the credit; provides any company taking the credit must maintain employment in the state for twice the number of years as the term of the tax credit; provides the Department of Economic Development shall annually report to the governor and the Legislature on the number and amounts of credits.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 3, 2025 Last action Jan 7, 2026
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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
2
Jan 7, 2026
Committee
REFERRED TO BUDGET AND REVENUE
upper
Feb 3, 2025
Committee
REFERRED TO BUDGET AND REVENUE
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Kevin Parker
Kevin Parker
DDemocratic/Working Families
NY
21