Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 |
referred to ways and means |
Mar 29, 2021 |
referred to ways and means |
Assembly Bill A6749
2021-2022 Legislative Session
Sponsored By
SALKA
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
Actions
co-Sponsors
Brian D. Miller
Kenneth Blankenbush
Karl Brabenec
2021-A6749 (ACTIVE) - Details
2021-A6749 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6749 2021-2022 Regular Sessions I N A S S E M B L Y March 29, 2021 ___________ Introduced by M. of A. SALKA -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to providing a tax credit for the purchase of on-farm anaerobic digesters or other farm-related equipment that is used in the process of turning farm waste into meth- ane for commercial use THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding two new sections 28-a and 187-q to read as follows: § 28-A. METHANE PRODUCTION EQUIPMENT CREDIT. (A) GENERAL. A TAXPAYER SUBJECT TO TAX UNDER ARTICLE NINE, NINE-A OR TWENTY-TWO OF THIS CHAPTER SHALL BE ALLOWED A ONE-TIME CREDIT AGAINST SUCH TAX PURSUANT TO THE PROVISIONS REFERENCED IN SUBDIVISION (B) OF THIS SECTION. THE CREDIT (OR PRO RATA SHARE OF THE CREDIT IN THE CASE OF A PARTNERSHIP) FOR THE PURCHASE AND IMPLEMENTATION AT A FARM LOCATED IN NEW YORK STATE OF ON-FARM ANAEROBIC DIGESTERS OR OTHER FARM-RELATED EQUIPMENT THAT IS USED IN THE PROCESS OF TURNING FARM WASTE INTO METHANE FOR USE BY THE TAXPAY- ER OR OTHER COMMERCIAL USE SHALL BE THE FULL-VALUE OF THE EQUIPMENT AT THE TIME OF PURCHASE. THE TAX CREDIT ALLOWED PURSUANT TO THIS SECTION SHALL APPLY TO TAXABLE YEARS BEGINNING ON AND AFTER JANUARY FIRST, TWO THOUSAND TWENTY-TWO. (B) CROSS-REFERENCES. FOR APPLICATION OF THE CREDIT PROVIDED FOR IN THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER: (1) ARTICLE 9: SECTION 187-Q. (2) ARTICLE 9-A: SECTION 210-B, SUBDIVISION 28. (3) ARTICLE 22: SECTION 606, SUBSECTIONS (I) AND (KKK). § 187-Q. METHANE PRODUCTION EQUIPMENT CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT TO BE COMPUTED AS PROVIDED IN SECTION TWENTY-EIGHT-A OF THIS CHAPTER AGAINST THE TAX IMPOSED BY THIS ARTICLE. PROVIDED, HOWEVER, THAT THE AMOUNT OF SUCH CREDIT ALLOWED AGAINST THE TAX IMPOSED BY SECTION ONE HUNDRED EIGHTY-FOUR OF THIS ARTICLE SHALL BE THE EXCESS OF THE AMOUNT OF SUCH CREDIT OVER THE AMOUNT OF ANY CREDIT ALLOWED BY THIS SECTION AGAINST THE TAX IMPOSED BY SECTION ONE HUNDRED EIGHTY-THREE OF
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