Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 09, 2012 |
recommit, enacting clause stricken |
Jan 04, 2012 |
referred to banks |
Mar 09, 2011 |
reported and committed to finance |
Mar 03, 2011 |
referred to banks |
Senate Bill S3752
2011-2012 Legislative Session
Sponsored By
(R, C) 53rd Senate District
Archive: Last Bill Status - Stricken
- 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
(R, C, IP) Senate District
2011-S3752 (ACTIVE) - Details
- Law Section:
- Banking Law
- Laws Affected:
- Amd §235, Bank L; amd Part A §124, Chap 56 of 1998; amd Part L §2, Chap 63 of 2000
2011-S3752 (ACTIVE) - Sponsor Memo
BILL NUMBER:S3752 TITLE OF BILL: An act to amend the banking law, in relation to eligibility of investment funds for tax credits; to amend chapter 56 of the laws of 1998, amending the tax law and other laws relating to extending the dates of application of the investment tax credit under articles 9-A, 22 and 32 of the tax law; and to amend chapter 63 of the laws of 2000, amending the tax law and other laws relating to extending the dates of application of the investment tax credit under article 33 of the tax law, in relation to extending the effectiveness thereof PURPOSE: This bill would extend the investment tax credit for four years for certain financial services taxpayers. SUMMARY OF PROVISIONS: Section 1 of the bill would amend section 235 of the banking law to provide that investments of funds would be subject to taxation under articles 9-A, 22, 32 and 33 of the tax law.
2011-S3752 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3752 2011-2012 Regular Sessions I N S E N A T E March 3, 2011 ___________ Introduced by Sens. GRIFFO, FARLEY -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT to amend the banking law, in relation to eligibility of invest- ment funds for tax credits; to amend chapter 56 of the laws of 1998, amending the tax law and other laws relating to extending the dates of application of the investment tax credit under articles 9-A, 22 and 32 of the tax law; and to amend chapter 63 of the laws of 2000, amending the tax law and other laws relating to extending the dates of applica- tion of the investment tax credit under article 33 of the tax law, in relation to extending the effectiveness thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 235 of the banking law is amended by adding a new subdivision 32 to read as follows: 32. INVESTMENTS OF FUNDS MADE PURSUANT TO THIS SECTION SHALL BE TAXA- BLE IN ACCORDANCE WITH ARTICLES NINE-A, TWENTY-TWO, THIRTY-TWO AND THIR- TY-THREE OF THE TAX LAW AND SHALL BE ELIGIBLE FOR AN INVESTMENT TAX CREDIT, UNDER SUCH ARTICLES AS APPLICABLE. S 2. Paragraph c of subdivision 2 of section 124 of part A of chapter 56 of the laws of 1998, amending the tax law and other laws relating to extending the dates of application of the investment tax credit under articles 9-A, 22 and 32 of the tax law, as amended by section 1 of part YY-1 of chapter 57 of the laws of 2008, is amended to read as follows: c. Sections fifteen through twenty-seven of this act shall apply to property placed in service on or after October 1, 1998 and before Octo- ber 1, [2011] 2015. S 3. Section 2 of part L of chapter 63 of the laws of 2000, amending the tax law and other laws relating to extending the dates of applica- tion of the investment tax credit under article 33 of the tax law, as amended by section 2 of part YY-1 of chapter 57 of the laws of 2008, is amended to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09959-02-1
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