Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2010 |
referred to ways and means |
Jan 30, 2009 |
referred to ways and means |
Assembly Bill A4199
2009-2010 Legislative Session
Sponsored By
THIELE
Archive: Last Bill Status - In Assembly Committee
- 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
co-Sponsors
Thomas Alfano
multi-Sponsors
Robert Barra
Clifford Crouch
Joseph Giglio
Mike Spano
2009-A4199 (ACTIVE) - Details
2009-A4199 (ACTIVE) - Summary
Establishes a credit against income tax for certain donations of real property donated for public beach access or use, public waters or trails, fish and wildlife conservation or other similar land conservation purposes; establishes the real property donation credit transitory fund; provides that monies in such fund shall be used for land conservation purposes.
2009-A4199 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4199 2009-2010 Regular Sessions I N A S S E M B L Y January 30, 2009 ___________ Introduced by M. of A. THIELE, WALKER, ALFANO -- Multi-Sponsored by -- M. of A. BARRA, CROUCH, GIGLIO, SPANO -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, the state finance law and the environmental conservation law, in relation to establishing a credit against income tax for certain real property donations THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 171-t to read as follows: S 171-T. CREDIT FOR CERTAIN REAL PROPERTY DONATIONS VERIFICATION. THE DEPARTMENT SHALL VERIFY THE AMOUNT OF TAX CREDITS TAKEN EACH FISCAL YEAR WHICH WERE ALLOWED PURSUANT TO SUBDIVISION FORTY-ONE OF SECTION TWO HUNDRED TEN OR SUBSECTION (QQ) OF SECTION SIX HUNDRED SIX OF THIS CHAP- TER. UPON SUCH VERIFICATION, THE COMMISSIONER SHALL TRANSFER SUCH AMOUNT FROM THE REAL PROPERTY DONATION CREDIT TRANSITORY FUND AS DEFINED IN SECTION NINETY-NINE-Q OF THE STATE FINANCE LAW TO THE CREDIT OF THE GENERAL FUND. S 2. Section 210 of the tax law is amended by adding a new subdivision 41 to read as follows: 41. CREDIT FOR CERTAIN REAL PROPERTY DONATIONS. (A) ANY CORPORATION THAT MAKES A QUALIFIED DONATION OF INTEREST IN REAL PROPERTY LOCATED IN NEW YORK DURING THE TAXABLE YEAR THAT IS USEFUL FOR PUBLIC BEACH ACCESS OR USE, PUBLIC ACCESS TO PUBLIC WATERS OR TRAILS, FISH AND WILDLIFE CONSERVATION, OR OTHER SIMILAR LAND CONSERVATION PURPOSES, AS DETERMINED BY THE COMMISSIONER OF ENVIRONMENTAL CONSERVATION OR THE COMMISSIONER OF THE OFFICE OF PARKS, RECREATION AND HISTORIC PRESERVATION, SHALL BE ALLOWED A CREDIT AGAINST THE TAXES IMPOSED BY THIS ARTICLE EQUAL TO TWENTY-FIVE PERCENT OF THE FAIR MARKET VALUE OF THE DONATED PROPERTY INTEREST. TO BE ELIGIBLE FOR SUCH CREDIT, THE INTEREST IN REAL PROPERTY SHALL BE DONATED TO THE STATE AND APPROVED BY THE COMMISSIONER OF ENVI- RONMENTAL CONSERVATION OR THE COMMISSIONER OF THE OFFICE OF PARKS, RECREATION AND HISTORIC PRESERVATION, AS SET FORTH IN SECTION 56-0307 OF THE ENVIRONMENTAL CONSERVATION LAW OR SECTION NINETY-TWO-S OF THE STATE
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