Assembly Bill A10504

Signed By Governor
2009-2010 Legislative Session

Includes payments from the state's farmland protection program as federal gross income

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S7257 - Signed by Governor


  • 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions
Votes

co-Sponsors

2009-A10504 (ACTIVE) - Details

See Senate Version of this Bill:
S7257
Law Section:
Tax Law
Laws Affected:
Amd ยงยง210 & 606, Tax L

2009-A10504 (ACTIVE) - Summary

Includes payments from the state's farmland protection program as federal gross income from farming for otherwise eligible farmers.

2009-A10504 (ACTIVE) - Sponsor Memo

2009-A10504 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  10504

                          I N  A S S E M B L Y

                              April 2, 2010
                               ___________

Introduced  by M. of A. MAGEE -- read once and referred to the Committee
  on Ways and Means

AN ACT to amend the tax law, in relation to including payments from  the
  state's farmland protection program as federal gross income from farm-
  ing for otherwise eligible farmers

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph (b) of subdivision 22 of section 210 of  the  tax
law,  as  amended by chapter 527 of the laws of 2003, is amended to read
as follows:
  (b) Eligible farmer.  For  purposes  of  this  subdivision,  the  term
"eligible farmer" means a taxpayer whose federal gross income from farm-
ing  for the taxable year is at least two-thirds of excess federal gross
income. The term "eligible farmer" also  includes  a  corporation  other
than  the  taxpayer  of record for qualified agricultural land which has
paid the school district property taxes  on  such  land  pursuant  to  a
contract for the future purchase of such land; provided that such corpo-
ration  has  a  federal  gross  income from farming for the taxable year
which is at  least  two-thirds  of  excess  federal  gross  income;  and
provided further that, in determining such income eligibility, a taxpay-
er  may,  for  any  taxable  year, use the average of such federal gross
income from farming for that taxable year and such income  for  the  two
consecutive  taxable  years  immediately  preceding  such  taxable year.
Excess federal gross income means the amount  of  federal  gross  income
from  all  sources  for  the  taxable  year in excess of thirty thousand
dollars.  FOR THE PURPOSES OF THIS PARAGRAPH, PAYMENTS FROM THE  STATE'S
FARMLAND  PROTECTION PROGRAM, ADMINISTERED BY THE DEPARTMENT OF AGRICUL-
TURE AND MARKETS, SHALL BE INCLUDED AS FEDERAL GROSS INCOME FROM FARMING
FOR OTHERWISE ELIGIBLE FARMERS.
  S 2. Paragraph 2 of subsection (n) of section 606 of the tax  law,  as
amended  by  chapter  527  of  the  laws  of 2003, is amended to read as
follows:
  (2) Eligible farmer. For purposes of this subsection, the term "eligi-
ble farmer" means a taxpayer whose federal gross income from farming for

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

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.