Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 06, 2024 |
recommit, enacting clause stricken |
Jan 03, 2024 |
referred to budget and revenue |
Mar 08, 2023 |
print number 2350a |
Mar 08, 2023 |
amend and recommit to budget and revenue |
Jan 20, 2023 |
referred to budget and revenue |
Senate Bill S2350A
2023-2024 Legislative Session
Sponsored By
(D, WF) Senate District
Current 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
Actions
Bill Amendments
2023-S2350 - Details
- Law Section:
- Taxation
2023-S2350 - Sponsor Memo
BILL NUMBER: S2350 SPONSOR: KENNEDY TITLE OF BILL: An act expanding eligibility to the brownfield redevelopment tax credit to certain taxpayers PURPOSE OR GENERAL IDEA OF BILL: This bill would allow a taxpayer to claim site preparation credit where the taxpayer did not own the qualified site during the taxable year in which the certificate of completion was issued, but became owner of the site and paid the site preparation costs after the certificate of completion was issued. SUMMARY OF SPECIFIC PROVISIONS: Section one allows a taxpayer to claim a site preparation credit for the brownfield redevelopment tax credit in rare occasions where a taxpayer purchases a qualified site in which the certificate of completion was issued under a prior owner in the previous taxable year but the site
2023-S2350 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2350 2023-2024 Regular Sessions I N S E N A T E January 20, 2023 ___________ Introduced by Sen. KENNEDY -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT expanding eligibility to the brownfield redevelopment tax credit to certain taxpayers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Notwithstanding any provision of law to the contrary, for the purposes of the brownfield redevelopment tax credit pursuant to section 21 of the tax law, as added by chapter 1 of the laws of 2003, in the event that a qualified site, as defined in such section, is owned by, or was acquired by a taxpayer from a separate taxpayer to whom a certificate of completion was issued by the commissioner of environ- mental conservation pursuant to section 27-1419 of the environmental conservation law, such owning or acquiring taxpayer shall be eligible for such credit to the extent that such owning or acquiring taxpayer paid for eligible site preparation costs and on-site groundwater remedi- ation costs as such terms are defined in subdivision (b) of section 21 of the tax law, as added by chapter 1 of the laws of 2003. § 2. The provisions of section one of this act shall be deemed retro- active, and the commissioner of taxation and finance shall promulgate any rules or regulations necessary for the implementation of this act. § 3. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06991-01-3
2023-S2350A (ACTIVE) - Details
- Law Section:
- Taxation
2023-S2350A (ACTIVE) - Sponsor Memo
BILL NUMBER: S2350A SPONSOR: KENNEDY TITLE OF BILL: An act expanding eligibility to the brownfield redevelopment tax credit to certain taxpayers PURPOSE OR GENERAL IDEA OF BILL: This bill would allow a taxpayer to claim site preparation credit where the taxpayer did not own the qualified site during the taxable year in which the certificate of completion was issued, but became owner of the site and paid the site preparation costs after the certificate of completion was issued. SUMMARY OF SPECIFIC PROVISIONS: Section one allows a taxpayer to claim a site preparation credit for the brownfield redevelopment tax credit in rare occasions where a taxpayer purchases a qualified site in which the certificate of completion was issued under a prior owner in the previous taxable year but the site
2023-S2350A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2350--A 2023-2024 Regular Sessions I N S E N A T E January 20, 2023 ___________ Introduced by Sen. KENNEDY -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT expanding eligibility to the brownfield redevelopment tax credit to certain taxpayers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Notwithstanding any provision of law to the contrary, for the purposes of the site preparation credit component of the brownfield redevelopment tax credit pursuant to section 21 of the tax law, as added by chapter 1 of the laws of 2003, a taxpayer can claim a site prepara- tion credit with respect to a site's qualification for a certificate of completion in the taxable year following the taxable year where the certificate of completion was issued by the commissioner of environ- mental conservation pursuant to section 27-1419 of the environmental conservation law, where the taxpayer did not own the qualified site during the taxable year in which the certificate of completion was issued, but became the owner of the qualified site and paid the site preparation costs relevant to the credit claim in the taxable year after the certificate of completion was issued. § 2. This act shall take effect immediately and shall apply to site preparation credit components of brownfield redevelopment tax credit claims filed for taxable years beginning on or after January 1, 2014 and before January 1, 2023. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06991-02-3
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.