Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Nov 20, 2015 |
tabled vetoed memo.232 |
Nov 10, 2015 |
delivered to governor |
Jun 16, 2015 |
returned to assembly passed senate substituted for s3971 |
Jun 16, 2015 |
substituted by a5545 ordered to third reading cal.1612 committee discharged and committed to rules |
Feb 25, 2015 |
referred to investigations and government operations |
Senate Bill S3971
Vetoed By Governor2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A5545 - Vetoed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Vetoed By Governor
- Signed By Governor
Actions
Votes
2015-S3971 (ACTIVE) - Details
2015-S3971 (ACTIVE) - Sponsor Memo
BILL NUMBER:S3971 TITLE OF BILL: An act to amend the tax law, in relation to QEZE tax reduction credits PURPOSE OR GENERAL IDEA OF BILL: To encourage the growth of New York State manufacturing by allowing the inclusion of all income derived from a business for the purposes of claiming the QEZE tax credit. SUMMARY OF PROVISIONS: Section 1 - Paragraph 1 of subdivision (f) of section 16 of the Tax Law, as amended by section 34 of part A of Chapter 59 of the Laws of 2014, is amended to include all business income as income allotted for the purposes of calculating the tax factor under article 22 of this chapter. Section 2 - This act shall take effect immediately. JUSTIFICATION: The QEZE tax credit was designed to encourage employment in New York State. An allocation between New York and non-New York income was not
2015-S3971 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3971 2015-2016 Regular Sessions I N S E N A T E February 25, 2015 ___________ Introduced by Sen. RANZENHOFER -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations AN ACT to amend the tax law, in relation to QEZE tax reduction credits THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 1 of subdivision (f) of section 16 of the tax law, as amended by section 34 of part A of chapter 59 of the laws of 2014, is amended to read as follows: (1) General. The tax factor shall be, in the case of article nine-A of this chapter, the amount of tax determined for the taxable year under paragraph (a) of subdivision one of section two hundred ten of such article. The tax factor shall be, in the case of article twenty-two of this chapter, the tax determined for the taxable year under subsections (a) through (d) of section six hundred one of such article. PROVIDED HOWEVER, TAXPAYERS FILING UNDER ARTICLE TWENTY-TWO OF THIS CHAPTER SHALL INCLUDE FOR THE PURPOSES OF THE TAX FACTOR ALL BUSINESS INCOME ATTRIBUT- ABLE TO A QEZE BUSINESS WHICH IS TAXABLE UNDER ARTICLE TWENTY-TWO OF THIS CHAPTER. The tax factor shall be, in the case of article thirty- three of this chapter, the larger of the amounts of tax determined for the taxable year under paragraphs one and three of subdivision (a) of section fifteen hundred two of such article. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09283-01-5
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