S T A T E O F N E W Y O R K
2011-2012 Regular Sessions
I N S E N A T E
January 20, 2011
Introduced by Sen. GRISANTI -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
AN ACT to amend the tax law, in relation to start-up high technology
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subparagraph 3 of paragraph (j) of subdivision 12 of
section 210 of the tax law, as amended by section 1 of part CC of chap-
ter 85 of the laws of 2002, is amended to read as follows:
(3) has been subject to tax under this article for more than five
taxable years (excluding short taxable years) PROVIDED, HOWEVER, IF THE
TAXPAYER IS A START-UP HIGH TECHNOLOGY COMPANY OR A SMALL HIGH TECHNOLO-
GY COMPANY PURSUANT TO THE PROVISIONS OF SECTION THIRTY-ONE HUNDRED
TWO-E OF THE PUBLIC AUTHORITIES LAW, THE REFERENCE TO "FIVE TAXABLE
YEARS" IN THE PRECEDING SENTENCE SHALL BE READ AS "EIGHT TAXABLE YEARS".
S 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.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.