States / New York / S 4248

S 4248 In Committee

Provides for a job creation tax credit

Introduced
In Committee
Floor
Crossed Over
Passed
Enacted

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.

Chamber
Senate
Introduced
Feb 3, 2025
Last action
Jan 7, 2026 — REFERRED TO BUDGET AND REVENUE
Session
2025-2026
Momentum
27 · Low