Senate Bill S7170A

2015-2016 Legislative Session

Relates to property tax credits for farmers

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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

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Bill Amendments

2015-S7170 - Details

See Assembly Version of this Bill:
A9892
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2017-2018 Legislative Session:
S2899, A4650

2015-S7170 - Summary

Relates to property tax credits for farmers; adds property owned in trust to which a taxpayer is a beneficiary to qualified agricultural property.

2015-S7170 - Sponsor Memo

2015-S7170 - Bill Text download pdf

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

                                  7170

                            I N  S E N A T E

                              April 5, 2016
                               ___________

Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation to  property  tax  credits  for
  farmers

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

  Section 1. Paragraph 3 of subsection (n) of section  606  of  the  tax
law,  as  amended by chapter 728 of the laws of 2005, is amended to read
as follows:
  (3) School district property taxes. For purposes of  this  subsection,
the  term  "school  district  property  taxes" means all property taxes,
special ad valorem levies and special assessments, exclusive  of  penal-
ties  and interest, levied for school district purposes on the qualified
agricultural property (A) owned by the taxpayer [or], (B) owned  by  the
father,  mother,  grandfather,  grandmother,  brother  or  sister of the
taxpayer  and  a  written  agreement  expressing  intent  to  eventually
purchase  the land has been entered into, OR (C) OWNED BY TRUST TO WHICH
THE TAXPAYER IS A BENEFICIARY.
  S 2. Subparagraph 2 of paragraph (b)  of  subdivision  43  of  section
210-B  of the tax law, as added by section 17 of part A of chapter 59 of
the laws of 2014, is amended to read as follows:
  (2) In addition, the term real property tax includes taxes paid by the
taxpayer upon real property principally used during the taxable year  by
the  taxpayer in manufacturing where the taxpayer leases such real prop-
erty from an unrelated third  party  if  the  following  conditions  are
satisfied:  (i)  the tax must be paid by the taxpayer as lessee pursuant
to explicit requirements in a written lease, and (ii)  the  taxpayer  as
lessee  has  paid  such  taxes  directly to the taxing authority and has
received a written receipt for payment of taxes from the taxing authori-
ty. In the case of a combined group that  constitutes  a  qualified  New
York  manufacturer,  the conditions in the preceding sentence are satis-
fied if one corporation in the combined group is the lessee and  another
corporation  in  the  combined  group  makes  the payments to the taxing

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

2015-S7170A (ACTIVE) - Details

See Assembly Version of this Bill:
A9892
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2017-2018 Legislative Session:
S2899, A4650

2015-S7170A (ACTIVE) - Summary

Relates to property tax credits for farmers; adds property owned in trust to which a taxpayer is a beneficiary to qualified agricultural property.

2015-S7170A (ACTIVE) - Sponsor Memo

2015-S7170A (ACTIVE) - Bill Text download pdf

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

                                 7170--A

                            I N  S E N A T E

                              April 5, 2016
                               ___________

Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment  Operations  --  committee  discharged,  bill  amended,   ordered
  reprinted as amended and recommitted to said committee

AN  ACT  to  amend  the tax law, in relation to property tax credits for
  farmers

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

  Section  1.  Paragraph  3  of subsection (n) of section 606 of the tax
law, as amended by chapter 728 of the laws of 2005, is amended  to  read
as follows:
  (3)  School  district property taxes. For purposes of this subsection,
the term "school district property  taxes"  means  all  property  taxes,
special  ad  valorem levies and special assessments, exclusive of penal-
ties and interest, levied for school district purposes on the  qualified
agricultural  property  (A) owned by the taxpayer [or], (B) owned by the
father, mother, grandfather,  grandmother,  brother  or  sister  of  the
taxpayer  and  a  written  agreement  expressing  intent  to  eventually
purchase the land has been entered into, OR (C) OWNED BY TRUST TO  WHICH
THE TAXPAYER IS A BENEFICIARY.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14882-04-6


              

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