Senate Bill S3888

2009-2010 Legislative Session

Requires the commissioner to publish an annual refundable tax credit report by January 31st

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Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee


  • 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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Bill Amendments

co-Sponsors

2009-S3888 - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add §171-t, Tax L

2009-S3888 - Summary

Requires the commissioner to publish an annual refundable tax credit report by January 31st; the first report must be published by January 31, 2011.

2009-S3888 - Sponsor Memo

2009-S3888 - Bill Text download pdf

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

                                  3888

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                              April 2, 2009
                               ___________

Introduced  by  Sens.  C. JOHNSON,  DIAZ,  DUANE, ONORATO, SAVINO -- (at
  request of the Department of Taxation and Finance) -- 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 annual reports on refundable
  tax credits

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

  Section  1.  The  tax  law is amended by adding a new section 171-t to
read as follows:
  S 171-T. ANNUAL REFUNDABLE TAX CREDIT REPORT. 1. THE COMMISSIONER MUST
PUBLISH AN ANNUAL REFUNDABLE TAX CREDIT REPORT BY  THE  THIRTY-FIRST  OF
JANUARY. THE FIRST REPORT MUST BE PUBLISHED BY JANUARY THIRTY-FIRST, TWO
THOUSAND TEN.
  2.  THE CREDIT REPORT MUST CONTAIN THE FOLLOWING INFORMATION REGARDING
THE REFUNDABLE BUSINESS CREDITS CLAIMED UNDER THIS  CHAPTER  DURING  THE
PREVIOUS CALENDAR YEAR:
  (A)  THE NAME OF EACH TAXPAYER CLAIMING A CREDIT; PROVIDED HOWEVER, IF
THE TAXPAYER CLAIMS A CREDIT BECAUSE THE  TAXPAYER  IS  A  MEMBER  OF  A
LIMITED  LIABILITY  COMPANY, A PARTNER IN A PARTNERSHIP OR A SHAREHOLDER
IN A SUBCHAPTER S CORPORATION, THE NAME OF EACH LIMITED LIABILITY COMPA-
NY, PARTNERSHIP OR SUBCHAPTER S CORPORATION EARNING ANY OF THOSE CREDITS
MUST BE INCLUDED IN THE REPORT INSTEAD OF INFORMATION ABOUT THE TAXPAYER
CLAIMING THE CREDIT; AND
  (B) THE AMOUNT OF EACH CREDIT EARNED BY EACH TAXPAYER; PROVIDED HOWEV-
ER, IF THE TAXPAYER CLAIMS A CREDIT BECAUSE THE TAXPAYER IS A MEMBER  OF
A LIMITED LIABILITY COMPANY, A PARTNER IN A PARTNERSHIP OR A SHAREHOLDER
IN A SUBCHAPTER S CORPORATION, THE AMOUNT OF CREDIT EARNED BY EACH ENTI-
TY  MUST  BE  INCLUDED  IN  THE  REPORT INSTEAD OF INFORMATION ABOUT THE
TAXPAYER CLAIMING THE CREDIT.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09391-01-9

              

co-Sponsors

2009-S3888A (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Add §171-t, Tax L

2009-S3888A (ACTIVE) - Summary

Requires the commissioner to publish an annual refundable tax credit report by January 31st; the first report must be published by January 31, 2011.

2009-S3888A (ACTIVE) - Sponsor Memo

2009-S3888A (ACTIVE) - Bill Text download pdf

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

                                 3888--A

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                              April 2, 2009
                               ___________

Introduced by Sens. C. JOHNSON, DIAZ, DUANE, KRUEGER, ONORATO, SAVINO --
  (at  request  of the Department of Taxation and Finance) -- read twice
  and ordered printed, and when printed to be committed to the Committee
  on Investigations and Government  Operations  --  recommitted  to  the
  Committee  on  Investigations  and Government Operations in accordance
  with Senate Rule 6, sec. 8  --  committee  discharged,  bill  amended,
  ordered reprinted as amended and recommitted to said committee

AN ACT to amend the tax law, in relation to annual reports on refundable
  tax credits

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

  Section 1. The tax law is amended by adding a  new  section  171-u  to
read as follows:
  S 171-U. ANNUAL REFUNDABLE TAX CREDIT REPORT. 1. THE COMMISSIONER MUST
PUBLISH  AN  ANNUAL  REFUNDABLE TAX CREDIT REPORT BY THE THIRTY-FIRST OF
JANUARY. THE FIRST REPORT MUST BE PUBLISHED BY JANUARY THIRTY-FIRST, TWO
THOUSAND ELEVEN.
  2. THE CREDIT REPORT MUST CONTAIN THE FOLLOWING INFORMATION  REGARDING
THE  REFUNDABLE  BUSINESS  CREDITS CLAIMED UNDER THIS CHAPTER DURING THE
PREVIOUS CALENDAR YEAR:
  (A) THE NAME OF EACH TAXPAYER CLAIMING A CREDIT; PROVIDED HOWEVER,  IF
THE  TAXPAYER  CLAIMS  A  CREDIT  BECAUSE  THE TAXPAYER IS A MEMBER OF A
LIMITED LIABILITY COMPANY, A PARTNER IN A PARTNERSHIP OR  A  SHAREHOLDER
IN A SUBCHAPTER S CORPORATION, THE NAME OF EACH LIMITED LIABILITY COMPA-
NY, PARTNERSHIP OR SUBCHAPTER S CORPORATION EARNING ANY OF THOSE CREDITS
MUST BE INCLUDED IN THE REPORT INSTEAD OF INFORMATION ABOUT THE TAXPAYER
CLAIMING THE CREDIT; AND
  (B) THE AMOUNT OF EACH CREDIT EARNED BY EACH TAXPAYER; PROVIDED HOWEV-
ER,  IF THE TAXPAYER CLAIMS A CREDIT BECAUSE THE TAXPAYER IS A MEMBER OF
A LIMITED LIABILITY COMPANY, A PARTNER IN A PARTNERSHIP OR A SHAREHOLDER
IN A SUBCHAPTER S CORPORATION, THE AMOUNT OF CREDIT EARNED BY EACH ENTI-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09391-03-0
              

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