NY State Senate Bill 2017-S454A

Senate Bill S454A

2017-2018 Legislative Session

Establishes a credit against the franchise tax on business corporations for the cost of replacing concord grapevines by a farm

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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

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 23, 2018	print number 454a
Jan 23, 2018	amend and recommit to investigations and government operations
Jan 03, 2018	referred to investigations and government operations
Jan 04, 2017	referred to investigations and government operations

Bill Amendments

Original

A (Active)

co-Sponsors

2017-S454 - Details

Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §210-B, Tax L
Versions Introduced in Other Legislative Sessions:: 2009-2010: S2439
2011-2012: S849
2013-2014: S2683
2015-2016: S3073
2019-2020: S928

2017-S454 - Summary

Establishes a credit against the franchise tax on business corporations for the cost of replacing concord grapevines by a farm.

2017-S454 - Sponsor Memo

                                 BILL NUMBER:  S454

 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 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 for farms to pursue
this costly but worthwhile investment to help diversify grape acreage
and remain competitive in the global marketplace.

 LEGISLATIVE HISTORY :

2016: S.3073-A Referred to Investigations & Government Operations
2015: S.3073 Referred to Investigations & Government Operations
2013,2014: S.2683-A Referred to Investigations & Government Operations
2011,2012: S.849 Referred to Investigations & Government Operations
2009,2010: S.2439 Referred to Investigations & Government Operations
2007,2008: S.4512 Referred to Investigations & Government Operations
2006: S.7236/A.11540 Referred to Investigations & Government
Operations

 FISCAL IMPLICATIONS :

Undetermined at this time.

 EFFECTIVE DATE :
Effective immediately.

2017-S454 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    454
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 4, 2017
                                ___________
 
 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  SEVENTEEN. 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.
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05934-01-7

co-Sponsors

2017-S454A (ACTIVE) - Details

Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §210-B, Tax L
Versions Introduced in Other Legislative Sessions:: 2009-2010: S2439
2011-2012: S849
2013-2014: S2683
2015-2016: S3073
2019-2020: S928

2017-S454A (ACTIVE) - Summary

Establishes a credit against the franchise tax on business corporations for the cost of replacing concord grapevines by a farm.

2017-S454A (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S454A

SPONSOR: YOUNG
 
TITLE OF BILL:  An act to amend the tax law, in relation to establish-
ing a grapevine replacement franchise tax on business corporations cred-
it

 
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 fran-
chise tax credit to farm business corporations for the cost of grapev-
ines 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 Cali-
fornia, 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 for farms to pursue this costly but worthwhile
investment to help diversify grape acreage and remain competitive in the
global marketplace.

 
LEGISLATIVE HISTORY:

2017: S.454 Referred to Investigations & Government Operations
2016: S.3073-A Referred to Investigations & Government Operations
2015: S.3073 Referred to Investigations & Government Operations
2013,2014:S.2683-A Referred to Investigations & Government Operations
2011,2012:S.849Referred to Investigations & Government Operations
2009,2010:S.2439 Referred to Investigations & Government Operations
2007,2008:S.4512 Referred to Investigations & Government Operations
2006: S.7236/A.11540 Referred to Investigations & Government Operations

 
FISCAL IMPLICATIONS:

Undetermined at this time.

 
EFFECTIVE DATE:
Effective immediately.

2017-S454A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  454--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 4, 2017
                                ___________
 
 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 53 to read as follows:
   53.  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 EIGHTEEN. 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.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD05934-02-8

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Senate Bill S454A

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Sponsored By

Catharine Young

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

Bill Amendments

co-Sponsors

Michael H. Ranzenhofer

2017-S454 - Details

2017-S454 - Summary

2017-S454 - Sponsor Memo

2017-S454 - Bill Text download pdf

co-Sponsors

Michael H. Ranzenhofer

2017-S454A (ACTIVE) - Details

2017-S454A (ACTIVE) - Summary

2017-S454A (ACTIVE) - Sponsor Memo

2017-S454A (ACTIVE) - Bill Text download pdf

Comments