Senate Bill S2702

2009-2010 Legislative Session

Allows agricultural property tax credit against general property tax as well as school tax

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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

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2009-S2702 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L

2009-S2702 (ACTIVE) - Summary

Allows agricultural property tax credit against general property tax as well as school tax.

2009-S2702 (ACTIVE) - Sponsor Memo

2009-S2702 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2702

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                            February 26, 2009
                               ___________

Introduced  by  Sens. AUBERTINE, KLEIN, ONORATO, SAMPSON, SAVINO -- read
  twice and ordered printed, and when printed to  be  committed  to  the
  Committee on Investigations and Government Operations

AN ACT to amend the tax law, in relation to credits against tax

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph 8 of subsection (n) of section  606  of  the  tax
law,  as  amended  by  section  3 of part K of chapter 62 of the laws of
2006, is amended to read as follows:
  (8) Special rules. For purposes of this subsection, the term  "federal
gross   income  from  farming"  shall  include  gross  income  from  the
production of maple syrup, cider, Christmas trees derived from a managed
Christmas tree operation whether dug for transplanting or cut  from  the
stump,  or  from  a  commercial  horse  boarding operation as defined in
subdivision thirteen of section three hundred one of the agriculture and
markets law, or from the sale of wine from a  licensed  farm  winery  as
provided  for  in article six of the alcoholic beverage control law.  IN
ADDITION TO SCHOOL  DISTRICT  PROPERTY  TAXES  THE  PROVISIONS  OF  THIS
SUBSECTION SHALL ALSO APPLY TO GENERAL PROPERTY TAXES LEVIED BY A MUNIC-
IPAL  TAXING DISTRICT AND A CREDIT ALLOWED BY THIS SUBSECTION SHALL ALSO
APPLY TO SUCH TAXES.
  S 2. This act shall take effect on the first of January next  succeed-
ing  the date on which it shall have become a law and shall apply to all
taxable years thereafter.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05240-01-9

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