NY State Senate Bill 2019-S928

Senate Bill S928

2019-2020 Legislative Session

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

download bill text pdf

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

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Mar 19, 2019	recommit, enacting clause stricken
Jan 09, 2019	referred to investigations and government operations

co-Sponsors

2019-S928 (ACTIVE) - Details

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
2017-2018: S454

2019-S928 (ACTIVE) - Summary

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

2019-S928 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S928

SPONSOR: YOUNG
 
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 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:

2018: S.454-A Referred to Investigations & Government Operations
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.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.

2019-S928 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    928
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              January 9, 2019
                                ___________
 
 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 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  NINETEEN.  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.
                                                            LBD03024-01-9

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Senate Bill S928

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Sponsored By

Catharine Young