NY A06433

Authorizes the Division of Small Business to make bulk purchases of personal protective equipment (PPE) and sell it at cost to small businesses, with PPE defined as equipment worn to minimize exposure to communicable disease including gloves, masks, and faceshields.

Establishes a tax credit for small business employers equal to the full cost of PPE purchased for employee use against taxes imposed under Article 9-A (corporate) and Article 22 (personal income) of the tax law.

Allows excess tax credits that exceed a taxpayer's annual tax liability to be carried forward to subsequent years and applied against future tax obligations.

Requires taxpayers to reduce allowable credits for new PPE purchases in subsequent years by the amount of credits previously allowed or carried over from prior years.

Takes effect immediately, with tax credit provisions applying to taxable years beginning on or after January 1, 2020.