S T A T E   O F   N E W   Y O R K
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                                   2634
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 23, 2023
                                ___________
 
 Introduced  by  Sens. GRIFFO, GALLIVAN, HELMING, OBERACKER, ORTT -- read
   twice and ordered printed, and when printed to  be  committed  to  the
   Committee on Budget and Revenue
 
 AN  ACT  to  amend the tax law, in relation to providing a tax credit to
   certain landowners who allow snowmobile access on such land

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  606  of  the  tax law is amended by adding a new
 subsection (n-3) to read as follows:
   (N-3) CREDIT FOR CERTAIN LANDOWNERS WHO ALLOW SNOWMOBILE ACCESS.   (1)
 AN  INDIVIDUAL TAXPAYER WHO MEETS THE ELIGIBILITY STANDARDS IN PARAGRAPH
 TWO OF THIS SUBSECTION SHALL BE  ALLOWED  A  CREDIT  AGAINST  THE  TAXES
 IMPOSED  BY  THIS  ARTICLE IN THE AMOUNT SPECIFIED IN PARAGRAPH THREE OF
 THIS SUBSECTION.
   (2) TO BE ELIGIBLE FOR THE CREDIT, THE TAXPAYER (OR  TAXPAYERS  FILING
 JOINT  RETURNS)  ON THE PERSONAL INCOME TAX RETURN MUST ALLOW SNOWMOBILE
 ACCESS IN THE FORM OF A STATE-FUNDED SNOWMOBILE TRAIL OR PORTION THEREOF
 ON PROPERTY OWNED BY THE TAXPAYER.
   (3) A TAXPAYER SHALL BE ALLOWED A CREDIT EQUAL TO TEN CENTS PER LINEAR
 FOOT OF STATE-FUNDED SNOWMOBILE TRAIL ON ELIGIBLE PROPERTY  PURSUANT  TO
 PARAGRAPH TWO OF THIS SUBSECTION.
   (4)  THE AMOUNT OF THE CREDIT THAT MAY BE CLAIMED BY A TAXPAYER PURSU-
 ANT TO THIS SUBSECTION SHALL NOT EXCEED SEVEN HUNDRED FIFTY  DOLLARS  IN
 ANY GIVEN YEAR.
   (5)  IF  THE  AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBSECTION FOR ANY
 TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR,  THE  EXCESS
 ALLOWED  FOR A TAXABLE YEAR COMMENCING PRIOR TO JANUARY FIRST, TWO THOU-
 SAND TWENTY-FOUR MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS  AND
 MAY  BE  DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS, BUT IN
 NO EVENT SHALL SUCH CREDIT BE CARRIED OVER TO TAXABLE  YEARS  COMMENCING
 ON  OR  AFTER JANUARY FIRST, TWO THOUSAND THIRTY-FOUR, AND ANY AMOUNT OF
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04523-01-3
              

 S. 2634                             2
 
 CREDIT ALLOWED FOR A TAXABLE YEAR COMMENCING ON OR AFTER JANUARY  FIRST,
 TWO  THOUSAND TWENTY-FOUR AND NOT DEDUCTIBLE IN SUCH YEAR MAY BE CARRIED
 OVER TO THE TEN TAXABLE YEARS NEXT FOLLOWING SUCH TAXABLE YEAR  AND  MAY
 BE  DEDUCTED  FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS. IN LIEU OF
 CARRYING OVER ANY SUCH EXCESS, A TAXPAYER WHO IS  ELIGIBLE  PURSUANT  TO
 PARAGRAPH TWO OF THIS SUBSECTION MAY, AT HIS OR HER OPTION, RECEIVE SUCH
 EXCESS  AS A REFUND. ANY REFUND PAID PURSUANT TO THIS PARAGRAPH SHALL BE
 DEEMED TO BE A REFUND OF AN OVERPAYMENT OF TAX AS  PROVIDED  IN  SECTION
 SIX  HUNDRED  EIGHTY-SIX  OF  THIS  ARTICLE,  PROVIDED, HOWEVER, THAT NO
 INTEREST SHALL BE PAID THEREON.
   § 2. This act shall take effect on the first of January next  succeed-
 ing  the  date  on  which  it shall have become a law and shall apply to
 taxable years beginning on or after such date. The department  of  taxa-
 tion  and  finance  is  authorized  to  promulgate rules and regulations
 necessary for the timely implementation of this act on  or  before  such
 effective date.