|
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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|---|---|
| Jan 29, 2014 |
print number 2683a |
| Jan 29, 2014 |
amend and recommit to investigations and government operations |
| Jan 08, 2014 |
referred to investigations and government operations |
| Jan 23, 2013 |
referred to investigations and government operations |
Senate Bill S2683A
2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
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
Actions
Bill Amendments
co-Sponsors
(R, C, IP) Senate District
2013-S2683 - Details
2013-S2683 - Sponsor Memo
BILL NUMBER:S2683
TITLE OF BILL: An act to amend the tax law, in relation to establishing
a grapevine replacement franchise tax on business corporations credit
PURPOSE: This bill creates a refundable credit against the franchise tax
on farm business corporations for the cost of replacing Concord grapev-
ines with a new grape variety.
SUMMARY OF PROVISIONS: Section 210 of the Tax Law is amended to allow
for a refundable franchise tax credit to farm business corporations for
the cost of grapevines that are replacing existing Concord grapevines,
provided that the new grapevines are not of any Concord variety.
JUSTIFICATION: This legislation was created to encourage the planting of
new grape varieties in response to New York's evolving grape and wine
market. Many New York grape producers have built their businesses on the
native Concord grape which is used in juices, jellies and other food
products. Concord grape growers are currently experiencing a severe glut
in national grape juice concentrate markets, due to overproduction in
California, and are seeking innovative ways to continue farming. With a
growing interest and national demand for New York wines, grape growers
are turning to vinifera grapes and other high-quality hybrid varieties
which offer consistent fruit quality and production. This legislation
provides an incentive fox farms to pursue this costly but worthwhile
investment to help diversify grape acreage and remain competitive in the
2013-S2683 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
2683
2013-2014 Regular Sessions
I N S E N A T E
January 23, 2013
___________
Introduced by Sens. YOUNG, RANZENHOFER -- read twice and ordered print-
ed, and when printed to be committed to the Committee on Investi-
gations and Government Operations
AN ACT to amend the tax law, in relation to establishing a grapevine
replacement franchise tax on business corporations credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 210 of the tax law is amended by adding a new
subdivision 46 to read as follows:
46. GRAPEVINE REPLACEMENT TAX CREDIT. (A) ALLOWANCE OF CREDIT. A
TAXPAYER THAT IS A BUSINESS PRINCIPALLY ENGAGED IN FARMING, AS SUCH TERM
IS DEFINED IN PARAGRAPH NINETEEN OF SUBDIVISION (B) OF SECTION ONE THOU-
SAND ONE HUNDRED ONE OF THIS CHAPTER, SHALL BE ALLOWED A CREDIT AGAINST
THE TAX IMPOSED BY THIS ARTICLE FOR THE REPLACEMENT OF GRAPEVINES OF ANY
CONCORD VARIETY FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST,
TWO THOUSAND THIRTEEN. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO THE
SUM OF THE COST OF GRAPEVINES THAT ARE PURCHASED AND PLANTED FOR THE
PURPOSE OF REPLACING GRAPEVINES OF ANY CONCORD VARIETY. THIS CREDIT
SHALL NOT APPLY TO GRAPEVINES OF ANY CONCORD VARIETY.
(B) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWED UNDER
THIS SUBDIVISION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX
FOR SUCH YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO
BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION ONE
THOUSAND EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER, THAT NO INTEREST
SHOULD BE PAID ON SUCH REFUND, NOTWITHSTANDING THE PROVISIONS OF
SUBSECTION (C) OF SECTION ONE THOUSAND EIGHTY-EIGHT OF THIS CHAPTER.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06906-01-3
co-Sponsors
(R, C, IP) Senate District
2013-S2683A (ACTIVE) - Details
2013-S2683A (ACTIVE) - Sponsor Memo
BILL NUMBER:S2683A
TITLE OF BILL: An act to amend the tax law, in relation to
establishing a grapevine replacement franchise tax on business
corporations credit
PURPOSE:
This bill creates a refundable credit against the franchise tax on
farm business corporations for the cost of replacing Concord
grapevines with a new grape variety.
SUMMARY OF PROVISIONS:
Section 210 of the Tax Law is amended to allow for a refundable
franchise tax credit to farm business corporations for the cost of
grapevines that are replacing existing Concord grapevines, provided
that the new grapevines are not of any Concord variety.
JUSTIFICATION:
This legislation was created to encourage the planting of new grape
varieties in response to New York's evolving grape and wine market.
Many New York grape producers have built their businesses on the
native Concord grape which is used in juices, jellies and other food
products. Concord grape growers are currently experiencing a severe
2013-S2683A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
2683--A
2013-2014 Regular Sessions
I N S E N A T E
January 23, 2013
___________
Introduced by Sens. YOUNG, RANZENHOFER -- read twice and ordered print-
ed, and when printed to be committed to the Committee on Investi-
gations and Government Operations -- recommitted to the Committee on
Investigations and Government Operations in accordance with Senate
Rule 6, sec. 8 -- committee discharged, bill amended, ordered
reprinted as amended and recommitted to said committee
AN ACT to amend the tax law, in relation to establishing a grapevine
replacement franchise tax on business corporations credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 210 of the tax law is amended by adding a new
subdivision 48 to read as follows:
48. GRAPEVINE REPLACEMENT TAX CREDIT. (A) ALLOWANCE OF CREDIT. A
TAXPAYER THAT IS A BUSINESS PRINCIPALLY ENGAGED IN FARMING, AS SUCH TERM
IS DEFINED IN PARAGRAPH NINETEEN OF SUBDIVISION (B) OF SECTION ONE THOU-
SAND ONE HUNDRED ONE OF THIS CHAPTER, SHALL BE ALLOWED A CREDIT AGAINST
THE TAX IMPOSED BY THIS ARTICLE FOR THE REPLACEMENT OF GRAPEVINES OF ANY
CONCORD VARIETY FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST,
TWO THOUSAND FOURTEEN. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO THE
SUM OF THE COST OF GRAPEVINES THAT ARE PURCHASED AND PLANTED FOR THE
PURPOSE OF REPLACING GRAPEVINES OF ANY CONCORD VARIETY. THIS CREDIT
SHALL NOT APPLY TO GRAPEVINES OF ANY CONCORD VARIETY.
(B) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWED UNDER
THIS SUBDIVISION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX
FOR SUCH YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO
BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION ONE
THOUSAND EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER, THAT NO INTEREST
SHOULD BE PAID ON SUCH REFUND, NOTWITHSTANDING THE PROVISIONS OF
SUBSECTION (C) OF SECTION ONE THOUSAND EIGHTY-EIGHT OF THIS CHAPTER.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06906-02-4
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