S 1262: Establishes a five hundred dollar credit against income tax for nurses employed on a full-time basis for not less than six months and nurses teaching at institutions of higher education on and after January 1, 2026.

  
  STATE OF NEW YORK ________________________________________________________________________ 1262 2025-2026 Regular Sessions  IN SENATE January 8, 2025 ___________ Introduced by Sen. GALLIVAN -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to establishing certain credits against income tax for nurses 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 two new 2 subsections (qqq) and (rrr) to read as follows: 3 (qqq) Credit for full-time nurses. (1) Amount of credit. For taxable 4 years beginning on or after January first, two thousand twenty-six, a 5 taxpayer shall be allowed a credit against the tax imposed by this arti- 6 cle, where the taxpayer is licensed as a registered professional nurse 7 or licensed practical nurse pursuant to article one hundred thirty-nine 8 of the education law and has been employed on a full-time basis within 9 this state as a nurse for not less than six months during the taxable 10 year. The amount of such credit shall be five hundred dollars. For 11 purposes of this subsection, the term "employed on a full-time basis" 12 shall mean employment of not less than thirty hours per week. 13 (2) Application of credit. If the amount of credit allowed under this 14 subsection for any taxable year exceeds the taxpayer's tax for such 15 year, the excess will be treated as an overpayment to be credited or 16 refunded in accordance with the provisions of section six hundred eight- 17 y-six of this article, provided, however, that no interest will be paid 18 thereon. 19 (rrr) Credit for teaching nurses. (1) Amount of credit. For taxable 20 years beginning on or after January first, two thousand twenty-six, a 21 taxpayer shall be allowed a credit against the tax imposed by this arti- 22 cle, where the taxpayer is licensed as a registered professional nurse 23 or licensed practical nurse pursuant to article one hundred thirty-nine 24 of the education law and who teaches nursing at an institution of higher 25 education for not less than six months during the taxable year. The EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04118-01-5 
 S. 1262 2 1 amount of such credit shall be five hundred dollars. For purposes of 2 this subsection, the term "institution of higher education" shall mean 3 any institution of higher education or business, trade, technical or 4 other occupational school, recognized and approved by the regents, or 5 any successor organization, of the university of the state of New York 6 or accredited by a nationally recognized accrediting agency or associ- 7 ation accepted as such by the regents, or any successor organization, of 8 the university of the state of New York, which provides a course of 9 study leading to the granting of a post-secondary degree, certificate or 10 diploma. 11 (2) Application of credit. If the amount of the credit allowed under 12 this subsection for any taxable year exceeds the taxpayer's tax for such 13 year, the excess will be treated as an overpayment to be credited or 14 refunded in accordance with the provisions of section six hundred eight- 15 y-six of this article, provided, however, that no interest will be paid 16 thereon. 17 § 2. This act shall take effect immediately.