Workforce and job-creation programs
- The Summer Youth Employment Program: $25 million;
- Higher Education Opportunity Programs: $9 million;
- Career Pathways: $2.5 million;
- Advanced Technology Training and Information Networking (ATTAIN): $2 million;
- The Displaced Homemaker Program: $2.5 million;
- Childcare Facilitated Enrollment Demonstration Programs: $7 million;
- The Center for Employment Opportunities (CEO): $1 million; and
- Youth Employment Readiness Training Program: $12 million.
Infrastructure investment and job creation
Tax credit for employing disadvantaged youth
The law appropriates $25 million in tax credits to businesses that hire disadvantaged youths and also funds inner-city youth jobs programs, because it's critical to give at-risk youths the skills necessary to succeed and provide them with job opportunities to excel in spite of their environment.
Tax relief for manufacturers
Cutting the MTA Payroll tax to promote hiring
To encourage hiring, the MTA payroll tax will be cut or totally eliminated for more than 700,000 businesses and self-employed New Yorkers who currently pay the tax. The tax will be completely eliminated for small businesses with annual payrolls of up to $1.25 million. And business with payrolls between $1.25 and $1.75 million will see their payroll tax rate cut by up to two-thirds.
- a job retention tax credit for companies with more than 100 employees who maintain or exceed their previous employment levels despite being affected by a natural disaster;
- $50 million in grants to areas damaged by tropical storms Irene and Lee; and
- property tax relief for flood-damaged properties.
As many New Yorkers still recover from the devastating effects of recent storms, this law provides them with the help they desperately need by providing tax relief and recovery funds and creating jobs to get these hardworking families back on their feet.
To read the complete legislation, click here