Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 18, 2012 |
held for consideration in housing |
Jan 04, 2012 |
referred to housing |
Jan 05, 2011 |
referred to housing |
Assembly Bill A280
2011-2012 Legislative Session
Sponsored By
MONTESANO
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
William A. Barclay
Andrew Raia
Joseph Saladino
Eric Stevenson
multi-Sponsors
Thomas McKevitt
Steven McLaughlin
Marcus Molinaro
Dean Murray
2011-A280 (ACTIVE) - Details
2011-A280 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 280 2011-2012 Regular Sessions I N A S S E M B L Y (PREFILED) January 5, 2011 ___________ Introduced by M. of A. MONTESANO, BARCLAY, RAIA, SALADINO -- Multi-Spon- sored by -- M. of A. McKEVITT, MOLINARO -- read once and referred to the Committee on Housing AN ACT to amend the private housing finance law and the tax law, in relation to granting tax credit to business firms for contributions of real property made to not-for-profit housing companies THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The private housing finance law is amended by adding a new section 1134 to read as follows: S 1134. AFFORDABLE HOUSING ASSISTANCE PROGRAM. 1. (A) AS USED IN THIS SECTION, THE TERM "BUSINESS FIRM" SHALL MEAN ANY BUSINESS ENTITY AUTHOR- IZED TO DO BUSINESS IN THE STATE OF NEW YORK AND WHICH IS SUBJECT TO THE CORPORATION FRANCHISE TAX IMPOSED UNDER ARTICLE NINE-A OF THE TAX LAW, OR ANY BANKING CORPORATION WHICH IS SUBJECT TO THE FRANCHISE TAX UNDER ARTICLE THIRTY-TWO OF THE TAX LAW, OR ANY INSURANCE CORPORATION WHICH IS SUBJECT TO THE FRANCHISE TAX UNDER ARTICLE THIRTY-THREE OF THE TAX LAW. (B) AS USED IN THIS SECTION, THE TERM "LOW AND MODERATE INCOME PERSONS OR FAMILIES" SHALL MEAN THOSE PERSONS OR FAMILIES FOR WHOM THERE ARE NO OTHER REASONABLE AND AFFORDABLE HOMEOWNERSHIP, RENTAL, REHABILITATION OR HOME IMPROVEMENT ALTERNATIVES, AS THE CASE MAY BE, IN THE PRIVATE MARKET. 2. THE COMMISSIONER OF TAXATION AND FINANCE SHALL GRANT A CREDIT AGAINST ANY TAX DUE UNDER THE PROVISIONS OF ARTICLES NINE-A, THIRTY-TWO AND THIRTY-THREE OF THE TAX LAW IN AN AMOUNT EQUAL TO THE AMOUNT SPECI- FIED BY THE COMMISSIONER OF HOUSING AND COMMUNITY RENEWAL IN ANY TAX CREDIT VOUCHER ISSUED BY SUCH COMMISSIONER OF HOUSING AND COMMUNITY RENEWAL PURSUANT TO SUBDIVISION THREE OF THIS SECTION. 3. THE COMMISSIONER OF HOUSING AND COMMUNITY RENEWAL SHALL ESTABLISH A SYSTEM OF TAX CREDIT VOUCHERS FOR BUSINESS FIRMS MAKING CONTRIBUTIONS OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.