|
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
|---|---|
| Feb 08, 2016 |
print number 3073a |
| Feb 08, 2016 |
amend and recommit to investigations and government operations |
| Jan 06, 2016 |
referred to investigations and government operations |
| Feb 02, 2015 |
referred to investigations and government operations |
Senate Bill S3073A
2015-2016 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
2015-S3073 - Details
2015-S3073 - Sponsor Memo
BILL NUMBER:S3073
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-B 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
2015-S3073 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
3073
2015-2016 Regular Sessions
I N S E N A T E
February 2, 2015
___________
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-B of the tax law is amended by adding a new
subdivision 49 to read as follows:
49. 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 FIFTEEN. 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 OTHER THAN OF THE 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.
LBD06020-01-5
co-Sponsors
(R, C, IP) Senate District
2015-S3073A (ACTIVE) - Details
2015-S3073A (ACTIVE) - Sponsor Memo
BILL NUMBER: S3073A
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-B 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
2015-S3073A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
3073--A
2015-2016 Regular Sessions
I N S E N A T E
February 2, 2015
___________
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-B of the tax law is amended by adding a new
subdivision 49 to read as follows:
49. 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 SIXTEEN. 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 OTHER THAN OF THE 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.
LBD06020-02-6
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.