S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   92--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 4, 2023
                                ___________
 
 Introduced  by  M.  of  A.  L. ROSENTHAL, FAHY, ZEBROWSKI, SIMON, GLICK,
   THIELE, WEPRIN, JACOBSON, STIRPE, BENEDETTO, CARROLL, EPSTEIN, COLTON,
   SILLITTI, BORES -- Multi-Sponsored by -- M. of A. FITZPATRICK --  read
   once and referred to the Committee on Ways and Means -- recommitted to
   the  Committee  on  Ways and Means in accordance with Assembly Rule 3,
   sec. 2 -- committee discharged, bill  amended,  ordered  reprinted  as
   amended and recommitted to said committee
 
 AN  ACT  to amend the tax law and the environmental conservation law, in
   relation to establishing a bivalve mollusk shell recycling tax 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 60 to read as follows:
   60. BIVALVE MOLLUSK  SHELL  RECYCLING  CREDIT.  A  TAXPAYER  SHALL  BE
 ALLOWED A CREDIT, TO BE COMPUTED AS HEREINAFTER PROVIDED AGAINST THE TAX
 IMPOSED  BY  THIS  ARTICLE, FOR THE RECYCLING OF BIVALVE MOLLUSK SHELLS.
 THE AMOUNT OF THE CREDIT SHALL BE THE LESSER OF ONE THOUSAND DOLLARS, OR
 TEN CENTS MULTIPLIED BY THE NUMBER OF POUNDS OF MOLLUSK SHELLS CERTIFIED
 BY THE NEW YORK STATE  DEPARTMENT  OF  ENVIRONMENTAL  CONSERVATION.  THE
 CREDIT  ALLOWED  UNDER  THIS  SUBDIVISION FOR ANY TAXABLE YEAR SHALL NOT
 REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE FIXED  DOLLAR  MINIMUM
 AMOUNT  PRESCRIBED  IN  PARAGRAPH  (D) OF SUBDIVISION ONE OF SECTION TWO
 HUNDRED TEN OF THIS ARTICLE. IN ORDER FOR A TAXPAYER TO QUALIFY FOR THIS
 CREDIT, THE SHELLS SHALL BE DONATED TO AN ENTITY OR ORGANIZATION PERMIT-
 TED BY THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION TO REUSE SUCH SHELLS
 FOR THE BENEFICIAL USE OF OYSTER REEF RESTORATION.
   § 2. Section 606 of the tax law is amended by adding a new  subsection
 (ppp) to read as follows:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00035-05-4
 A. 92--A                            2
              

 
   (PPP)  BIVALVE MOLLUSK SHELL RECYCLING CREDIT. (1) A TAXPAYER SHALL BE
 ALLOWED A CREDIT, TO BE COMPUTED AS HEREINAFTER PROVIDED AGAINST THE TAX
 IMPOSED BY THIS ARTICLE, FOR THE RECYCLING OF BIVALVE MOLLUSK SHELLS.
   (2)  THE  AMOUNT  OF  THE  CREDIT  SHALL BE THE LESSER OF ONE THOUSAND
 DOLLARS, OR TEN CENTS MULTIPLIED BY THE  NUMBER  OF  POUNDS  OF  BIVALVE
 MOLLUSK  SHELLS  CERTIFIED  BY THE NEW YORK STATE DEPARTMENT OF ENVIRON-
 MENTAL CONSERVATION.
   (3) IN ORDER FOR A TAXPAYER TO QUALIFY FOR  THIS  CREDIT,  THE  SHELLS
 SHALL  BE  DONATED TO AN ENTITY OR ORGANIZATION PERMITTED BY THE DEPART-
 MENT OF ENVIRONMENTAL CONSERVATION TO REUSE SUCH SHELLS FOR THE  BENEFI-
 CIAL USE OF OYSTER REEF RESTORATION.
   §  3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by  adding  a  new  clause  (li)  to  read  as
 follows:
 (LI) BIVALVE MOLLUSK                 AMOUNT OF CREDIT UNDER SUBDIVISION
 SHELL RECYCLING CREDIT UNDER         SIXTY OF SECTION TWO
 SUBSECTION (PPP)                     HUNDRED TEN-B
   § 4. Subdivision 1 of section 3-0301 of the environmental conservation
 law is amended by adding a new paragraph ee to read as follows:
   EE.  ESTABLISH  RULES  AND  REGULATIONS REGARDING THE VERIFICATION AND
 CERTIFICATION OF BIVALVE MOLLUSK SHELLS RETURNED TO THE  DEPARTMENT  FOR
 RECYCLING  PURSUANT  TO  THE  BIVALVE MOLLUSK SHELL RECYCLING TAX CREDIT
 PROVIDED IN SECTIONS TWO HUNDRED TEN-B AND SIX HUNDRED SIX  OF  THE  TAX
 LAW  AND  FOR  SUCH  SHELLS  TO  BE REUSED IN THE PROCESS OF OYSTER REEF
 RESTORATION.
   § 5. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2024.