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Bill

A 835

Relates to the eligibility criteria for the excelsior jobs program act

2025 Regular Session Introduced by Ron Kim and 3 co-sponsors

Bill A 835 revises eligibility for the Excelsior Jobs Program, aiming to boost job creation in key sectors by refining criteria for tax incentives and reporting.

REFERRED TO ECONOMIC DEVELOPMENT
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Bill Summary · A 835

Summary of Bill A 835: Excelsior Jobs Program Act Eligibility Criteria

Bill Overview

  • Bill Number: A 835
  • Title: Relates to the eligibility criteria for the Excelsior Jobs Program Act
  • Status: Referred to Economic Development
  • Introduced On: January 08, 2025
  • Classification: Bill

Purpose and Intent

Bill A 835 aims to amend the eligibility criteria for the Excelsior Jobs Program Act, which is designed to incentivize businesses to create and retain jobs in New York State. The primary intent of the bill is to enhance the program's effectiveness by refining the qualifications that businesses must meet to receive tax credits and other benefits under the program.

Key Provisions

While the specific text of the bill has not been detailed in the provided information, the following are expected changes based on the general legislative context surrounding eligibility criteria for job creation programs:

  • Revised Eligibility Standards: The bill may propose new metrics or thresholds that businesses must meet to qualify for the program, potentially focusing on job creation numbers, wage levels, or industry sectors.
  • Incentives for Targeted Industries: There could be a focus on encouraging job growth in specific sectors deemed critical for economic development, such as technology, renewable energy, or healthcare.
  • Enhanced Reporting Requirements: Businesses may be required to provide more detailed reports on job creation and retention to ensure compliance with the program's goals.

Affected Parties

  • Businesses: Companies operating in New York State that seek to benefit from the Excelsior Jobs Program will be directly impacted by the changes in eligibility criteria.
  • Employees: Workers in sectors targeted by the program may benefit from increased job opportunities as businesses respond to the incentives.
  • State Economy: The overall economic landscape of New York could see changes in job growth patterns, particularly in industries that align with the revised criteria.

Procedural Aspects

  • Current Status: The bill was introduced on January 08, 2025, and has been referred to the Economic Development committee for further consideration.
  • Related Legislation: This bill is related to prior-session bills A 10003 and A 8327, as well as companion bill S 2384, which may provide additional context or support for the proposed changes.

Conclusion

Bill A 835 represents a significant step towards refining the Excelsior Jobs Program Act to better align with the economic goals of New York State. By adjusting eligibility criteria, the bill seeks to foster job creation and retention in key industries, ultimately aiming to strengthen the state's economy. Stakeholders, including businesses and employees, should monitor the bill's progress as it moves through the legislative process.

Compiled from official sources — confirm details with the bill’s official record.

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