S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6947
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 14, 2021
                                ___________
 
 Introduced  by M. of A. BARRETT -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN ACT to amend the tax law and the real property tax law,  in  relation
   to  a  tax credit and tax exemption for the rehabilitation of historic
   barns
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph  12 of subsection (a) of section 606 of the tax
 law, as added by chapter 309 of the laws of 1996, is amended to read  as
 follows:
   (12)  Rehabilitation  credit  for  historic barns. A taxpayer shall be
 allowed a credit, to be computed as hereinafter  provided,  against  the
 tax  imposed  by this article. The amount of the credit shall be twenty-
 five percent of the taxpayer's qualified  rehabilitation  expenditures[,
 as  defined in paragraph two of subsection (c) of section forty-seven of
 the internal revenue code, which qualify as the  basis  for  the  credit
 provided  for  under  paragraph one of subsection (b) of section thirty-
 eight of such code by reason of subsection one of section  forty-six  of
 such code,] paid or incurred WITHIN THE FIVE YEARS IMMEDIATELY PRECEDING
 THE  YEAR  IN WHICH SUCH TAX CREDIT SHALL BE APPLIED with respect to any
 barn located in this state which [is a qualified rehabilitated building,
 as such term is defined in paragraph  one  of  subsection  (c)  of  such
 section  forty-seven] QUALIFIES AS AN HISTORIC BARN PURSUANT TO SUBDIVI-
 SION FIVE OF SECTION FOUR HUNDRED EIGHTY-THREE-B OF  THE  REAL  PROPERTY
 TAX  LAW. For purposes of this paragraph, the term "barn" means a build-
 ing [originally designed and used for storing farm equipment or agricul-
 tural products, or for housing livestock] THAT IS  OR  WAS  USED  AS  AN
 AGRICULTURAL  FACILITY OR FOR PURPOSES RELATED TO AGRICULTURE. Provided,
 however, such qualified rehabilitation expenditures  shall  not  include
 any such expenditures which are included, directly or indirectly, in the
 computation  of  a  credit claimed by the taxpayer pursuant to paragraph
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD10595-02-1

 A. 6947                             2
 
 one of this subsection. Provided further that no  rehabilitation  credit
 shall  be  allowed  for  any rehabilitation of a barn which, immediately
 prior to the commencement of such rehabilitation, was used for  residen-
 tial  purposes,  or  which  converts a barn not suitable for residential
 purposes into one which is so suitable, nor shall a rehabilitation cred-
 it be allowed for any rehabilitation that materially alters the historic
 appearance of the barn.
   § 2.  Subdivision 5 of section 483-b of the real property tax law,  as
 added by chapter 309 of the laws of 1996, is amended to read as follows:
   5.  For  the  purposes  of this section, an historic barn shall mean a
 CERTIFIED AGRICULTURAL structure that was at least partially constructed
 before nineteen hundred [thirty-six] FORTY-FIVE and that [was originally
 designed and used for storing farm equipment or  agricultural  products,
 or  for housing livestock] IS OR WAS USED AS AN AGRICULTURAL FACILITY OR
 FOR PURPOSES RELATED TO AGRICULTURE; PROVIDED, HOWEVER, THAT A CERTIFIED
 AGRICULTURAL STRUCTURE  THAT  WAS  CONSTRUCTED  AFTER  NINETEEN  HUNDRED
 FORTY-FIVE  MAY  QUALIFY AS AN HISTORIC BARN IF SUCH STRUCTURE IS DETER-
 MINED ELIGIBLE FOR LISTING ON THE STATE OR NATIONAL REGISTER OF HISTORIC
 PLACES OR IS DETERMINED TO BE A CONTRIBUTING  STRUCTURE  OF  A  DISTRICT
 LISTED ON THE STATE OR NATIONAL REGISTER OF HISTORIC PLACES.  THE OFFICE
 OF PARKS, RECREATION AND HISTORIC PRESERVATION SHALL ESTABLISH ELIGIBIL-
 ITY  GUIDELINES  FOR  THE  CERTIFICATION  OF  AGRICULTURAL STRUCTURES AS
 HISTORIC BARNS WHICH SHALL BE ELIGIBLE FOR THE TAX EXEMPTION ESTABLISHED
 PURSUANT TO THIS SECTION.
   § 3.  This act shall take effect on  the  one  hundred  twentieth  day
 after it shall have become a law and shall apply to taxable years begin-
 ning on and after January 1, 2022.  Effective immediately, the addition,
 amendment  and/or  repeal  of  any  rule or regulation necessary for the
 implementation of this act on its effective date are  authorized  to  be
 made and completed on or before such effective date.