Assembly Bill A6492

2019-2020 Legislative Session

Relates to establishing a tax credit for grocery donations to food pantries

download bill text pdf

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Archive: Last 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

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2019-A6492 (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in 2017-2018 Legislative Session:
A8138

2019-A6492 (ACTIVE) - Summary

Establishes a tax credit for grocery donations to food pantries.

2019-A6492 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6492
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 8, 2019
                                ___________
 
 Introduced  by  M.  of  A.  ROMEO, RODRIGUEZ, LUPARDO, WILLIAMS, ARROYO,
   SAYEGH -- read once and referred to the Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to establishing  a  tax  credit
   for grocery donations to food pantries
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 210-B of the tax law is amended  by  adding  a  new
 subdivision 53 to read as follows:
   53.  CREDIT  FOR  GROCERY DONATIONS TO FOOD PANTRIES. (A) GENERAL.  IN
 THE CASE OF AN ELIGIBLE TAXPAYER THERE SHALL BE ALLOWED A TAX CREDIT  TO
 BE  COMPUTED  AS  HEREINAFTER  PROVIDED  AGAINST THE TAX IMPOSED BY THIS
 ARTICLE FOR TAXABLE YEARS BEGINNING ON  AND  AFTER  JANUARY  FIRST,  TWO
 THOUSAND  TWENTY-ONE.  THE AMOUNT OF THE TAX CREDIT SHALL BE TWENTY-FIVE
 PERCENT OF THE WHOLESALE VALUE  OF  THE  ELIGIBLE  TAXPAYER'S  QUALIFIED
 DONATIONS  MADE TO ANY ELIGIBLE FOOD PANTRY DURING THE TAXABLE YEAR, NOT
 TO EXCEED A CUMULATIVE AMOUNT OF TAX CREDITS UNDER THIS SECTION OF  FIVE
 THOUSAND DOLLARS PER TAXABLE YEAR.
   (B)  QUALIFIED  DONATION.  FOR  PURPOSES OF THIS SUBDIVISION, THE TERM
 "QUALIFIED DONATION" MEANS A DONATION OF APPARENTLY WHOLESOME  FOOD,  AS
 DEFINED  IN  SECTION 170(E)(3)(C)(VI) OF THE INTERNAL REVENUE CODE, THAT
 IS SURPLUS OR  ABOUT-TO-WASTE  FOOD,  INCLUDING,  BUT  NOT  LIMITED  TO,
 FRUITS,  VEGETABLES,  MEATS,  POULTRY,  EGGS,  DAIRY  PRODUCTS  OR OTHER
 NATURAL AND PROCESSED PRODUCTS OFFERED FOR  SALE  FOR  HUMAN  OR  ANIMAL
 CONSUMPTION.
   (C)  ELIGIBLE  TAXPAYER.  FOR  PURPOSES  OF THIS SUBDIVISION, THE TERM
 "ELIGIBLE TAXPAYER" MEANS A  GROCERY  STORE,  FOOD  BROKER,  WHOLESALER,
 RESTAURANTEUR, OR CATERING SERVICE.
   (D)  ELIGIBLE  FOOD PANTRY. FOR PURPOSES OF THIS SUBDIVISION, THE TERM
 "ELIGIBLE FOOD PANTRY" MEANS FOOD PANTRY, FOOD BANK, OR OTHER  EMERGENCY
 FOOD  PROGRAM  OPERATING  WITHIN  THIS  STATE THAT HAS QUALIFIED FOR TAX
 EXEMPTION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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