New York Senate Bill S02473

New York 2025-2026 Regular Session

• Introduced: 1/21/25
• Refer: 1/21/25
• Refer: 1/7/26

Caption

Establishes the fresh air jobs tax credit for businesses participating in the development or production of clean wind energy buildout programs in this state.

Summary

Bill S02473, known as the 'Fresh Air Jobs Act', aims to establish a tax credit for businesses involved in clean wind energy development in New York State. The bill allows eligible taxpayers to claim a credit against their tax liability for hiring qualified employees, defined as New York residents, for a minimum of 24 months. The credit is set at 10% of the wages paid during the employee's second year, increasing to 15% if the employee was receiving unemployment benefits at the time of hire. The maximum credit is capped at $5,000 per employee, or $10,000 for those who were previously unemployed.

Impact

The implementation of this bill will amend the New York State tax law to introduce a new tax credit specifically targeting businesses in the clean wind energy sector. This change is expected to incentivize job creation within this industry, potentially leading to increased employment opportunities for New York residents. Additionally, the bill mandates the collection and publication of data regarding the hiring practices of businesses that utilize this tax credit, which may enhance transparency and accountability in the program.

Sentiment

The general sentiment surrounding Bill S02473 appears to be positive, as it promotes job creation in the clean energy sector, which is a priority for many stakeholders. However, there may be concerns regarding the effectiveness of tax credits in achieving their intended outcomes and whether they adequately support the workforce in transitioning to clean energy jobs.

Contention

Notable points of contention may arise around the eligibility criteria for the tax credit, particularly the requirement that qualified employees must be New York residents. Some may argue that this could limit opportunities for non-residents or those who are unable to relocate. Additionally, there may be discussions about the potential for abuse of the credit, as employers are prohibited from discharging existing employees solely to qualify for the tax benefit.