Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 17, 2012 |
signed chap.429 |
Aug 06, 2012 |
delivered to governor |
Jun 19, 2012 |
returned to senate passed assembly ordered to third reading rules cal.367 substituted for a10352 |
Jun 11, 2012 |
referred to ways and means delivered to assembly passed senate |
Jun 05, 2012 |
advanced to third reading |
Jun 04, 2012 |
2nd report cal. |
May 31, 2012 |
1st report cal.980 |
May 22, 2012 |
referred to investigations and government operations |
Senate Bill S7462
Signed By Governor2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
co-Sponsors
(D, WF) Senate District
2011-S7462 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10352
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยง1201-a, Tax L
2011-S7462 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7462 TITLE OF BILL: An act to amend the tax law, in relation to extending the authorization for any city having a population of one million or more to provide a biotechnology credit against the general corporation tax, unincorporated business tax, and banking corporation tax of such city SUMMARY OF PROVISIONS: The bill amends paragraph 5 of subdivision d of section 1201-a of the tax law to allow the City of New York to extend its existing Biotechnology Credit for another three years from January 1, 2013 through December 31, 2015. JUSTIFICATION: With 9 world-class research institutions, 26 medical centers, 175 hospitals, and an unparalleled talent pool, New York City has a natural advantage in the bioscience industry. Yet it lags behind other cities, such as Boston and San Diego, in the commercialization of new technologies. The credit targets the first state of commercialization, where the discoveries of basic science are investigated for their commercial properties. The credit is part of a
2011-S7462 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7462 I N S E N A T E May 22, 2012 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to extending the authorization for any city having a population of one million or more to provide a biotechnology credit against the general corporation tax, unincorpo- rated business tax, and banking corporation tax of such city THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 5 of subdivision d of section 1201-a of the tax law, as added by chapter 453 of the laws of 2009, is amended to read as follows: 5. Any local law adopted pursuant to this subdivision may provide for a credit as authorized by this subdivision for a maximum of three consecutive calendar years, provided, however, that any such credit may not apply to taxable years beginning before January first, two thousand ten or beginning on or after January first, two thousand [thirteen] SIXTEEN. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15867-01-2
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