NY State Senate Bill 2009-S4279

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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Actions

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 06, 2010	referred to investigations and government operations
May 29, 2009	print number 4279a
May 29, 2009	amend (t) and recommit to investigations and government operations
Apr 21, 2009	referred to investigations and government operations

Bill Amendments

Original

A (Active)

2009-S4279 - Details

Current Committee:: Senate Investigations And Government Operations
Laws Affected:: Amd §§606 & 210, Tax L

2009-S4279 - Summary

Provides a tax credit for the purchase of FSC-certified wood products.

2009-S4279 - Sponsor Memo

                                 BILL NUMBER:  S4279

 TITLE OF BILL :
An act to amend the tax law, in relation to providing a tax credit for
the purchase of Forest Stewardship Council certified wood products


 PURPOSE OF THE BILL :
This bill provides a tax credit for the purchase of Forest Stewardship
Council (FSC)-certified wood products.

 SUMMARY OF SPECIFIC PROVISIONS :
§1- Amends § 606 of the Tax Law by adding a new subsection (qq) to
allow for a personal income tax credit equal to 20% of the material
cost of the purchase of FSC-certified hardwood flooring for a
principal residence located in the state.

§2- Amends § 210 of the Tax Law by adding a new subdivision 41 to
allow for a corporate franchise tax credit equal to 20% of the
material cost of the purchase of FSC-certified hardwood flooring for
real property located in the state.

§3- Effective date.

 JUSTIFICATION :
Today, more than ever, consumers are interested in investing in

environmentally friendly building products. In keeping with the wants
and needs of consumers, the hardwood flooring industry has pushed for
the use of Forest Stewardship Council (FSC)-certified woods. The FSC
is a worldwide organization comprised of members, including loggers,
foresters, environmentalists, and sociologists, whose goal is the
practice of sustainable forestry worldwide.

FSC-certified woods have become the gold standard for ensuring that
the products are harvested, milled and manufactured in environmentally
friendly ways. The United State Green Building Council requires all
hardwood flooring products to be FSC-certified to qualify for
Leadership in Energy and Environmental Design (LEED) points. Every
year, more and more buildings are becoming LEED-certified including
schools, universities, and office buildings.  Environmentally
conscientious homeowners are also using green materials.

This legislation would allow for either an individual or a corporation
to obtain a tax credit equal to 20% of the material cost of the
purchase of FSC-certified hardwood flooring for use in either a
personal residence or other real property in the state.

 PRIOR LEGISLATIVE HISTORY :
New bill.

 FISCAL IMPLICATIONS :
Yet to be determined.

 EFFECTIVE DATE :
This act shall take effect immediately.

2009-S4279 - Bill Text download pdf

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

                                  4279

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 21, 2009
                               ___________

Introduced  by  Sen.  STACHOWSKI  -- 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 providing a tax credit for
  the purchase of Forest Stewardship Council certified wood products

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

  Section  1.  Section  606  of  the  tax law is amended by adding a new
subsection (qq) to read as follows:
  (QQ) FSC-CERTIFIED WOOD PRODUCTS TAX CREDIT. (1) ALLOWANCE OF  CREDIT.
A  TAXPAYER  SHALL  BE  ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS
ARTICLE FOR THE COST OF MATERIAL INCURRED IN CONNECTION WITH THE INSTAL-
LATION OF HARDWOOD FLOORING IN HIS OR HER PRINCIPAL RESIDENCE,  IF  SUCH
RESIDENCE  IS  LOCATED  IN  THIS  STATE, PROVIDED SUCH FLOORING HAS BEEN
CERTIFIED TO BE IN COMPLIANCE WITH THE STANDARDS ENDORSED BY THE  FOREST
STEWARDSHIP  COUNCIL.  THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO TWENTY
PERCENT OF THE MATERIAL COST OF SUCH FLOORING.
  (2) MULTIPLE TAXPAYERS. IF THE PRINCIPAL RESIDENCE IS SHARED BY TWO OR
MORE TAXPAYERS, THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION
FOR EACH SUCH ELIGIBLE TAXPAYER  SHALL  BE  PRORATED  ACCORDING  TO  THE
PERCENTAGE OF THE TOTAL EXPENDITURE INCURRED BY EACH TAXPAYER.
  (3)  APPLICATION  OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWED UNDER
THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR
SUCH YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF  TAX  TO  BE
CREDITED  OR  REFUNDED  IN ACCORDANCE WITH THE PROVISIONS OF SECTION SIX
HUNDRED EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO  INTEREST
SHALL BE PAID THEREON.
  S 2. Section 210 of the tax law is amended by adding a new subdivision
41 to read as follows:
  41.  CREDIT  FOR  PURCHASE  OF FSC-CERTIFIED WOOD PRODUCTS. A TAXPAYER
SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY  THIS  ARTICLE  FOR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10887-01-9

S. 4279                             2

THE  COST  OF  MATERIAL  INCURRED IN CONNECTION WITH THE INSTALLATION OF
HARDWOOD FLOORING IN REAL PROPERTY LOCATED IN THIS STATE, PROVIDED  SUCH
FLOORING  HAS  BEEN  CERTIFIED  TO  BE  IN COMPLIANCE WITH THE STANDARDS
ENDORSED  BY  THE  FOREST  STEWARDSHIP COUNCIL. THE AMOUNT OF THE CREDIT
SHALL BE EQUAL TO TWENTY PERCENT OF THE MATERIAL COST OF SUCH  FLOORING.
THE  CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY YEAR SHALL NOT REDUCE
THE TAX DUE FOR SUCH YEAR  TO  LESS  THAN  THE  HIGHER  OF  THE  AMOUNTS
PRESCRIBED IN PARAGRAPHS (C) AND (D) OF SUBDIVISION ONE OF THIS SECTION.
IF,  HOWEVER,  THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBDIVISION FOR
ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY  AMOUNT  OF  CREDIT
NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING
YEAR  OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR
OR YEARS.
  S 3. This act shall take effect immediately.

2009-S4279A (ACTIVE) - Details

Current Committee:: Senate Investigations And Government Operations
Laws Affected:: Amd §§606 & 210, Tax L

2009-S4279A (ACTIVE) - Summary

Provides a tax credit for the purchase of FSC-certified wood products.

2009-S4279A (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S4279A

 TITLE OF BILL :
An act to amend the tax law, in relation to providing a tax credit for
the purchase of Forest Stewardship Council certified wood products


 PURPOSE OF THE BILL :
This bill provides a tax credit for the purchase of Forest Stewardship
Council (FSC)-certified wood products.

 SUMMARY OF SPECIFIC PROVISIONS :
§1- Amends § 606 of the Tax Law by adding a new subsection (qq) to
allow for a personal income tax credit equal to 20% of the material
cost of the purchase of FSC-certified hardwood flooring for a
principal residence located in the state.

§2- Amends § 210 of the Tax Law by adding a new subdivision 41 to
allow for a corporate franchise tax credit equal to 20% of the
material cost of the purchase of FSC-certified hardwood flooring for
real property located in the state.

§3- Effective date.

 JUSTIFICATION :
Today, more than ever, consumers are interested in investing in

environmentally friendly building products. In keeping with the wants
and needs of consumers, the hardwood flooring industry has pushed for
the use of Forest Stewardship Council (FSC)-certified woods. The FSC
is a worldwide organization comprised of members, including loggers,
foresters, environmentalists, and sociologists, whose goal is the
practice of sustainable forestry worldwide.

FSC-certified woods have become the gold standard for ensuring that
the products are harvested, milled and manufactured in environmentally
friendly ways. The United State Green Building Council requires all
hardwood flooring products to be FSC-certified to qualify for
Leadership in Energy and Environmental Design (LEED) points. Every
year, more and more buildings are becoming LEED-certified including
schools, universities, and office buildings.  Environmentally
conscientious homeowners are also using green materials.

This legislation would allow for either an individual or a corporation
to obtain a tax credit equal to 20% of the material cost of the
purchase of FSC-certified hardwood flooring for use in either a
personal residence or other real property in the state.

 PRIOR LEGISLATIVE HISTORY :
New bill.

 FISCAL IMPLICATIONS :
Yet to be determined.

 EFFECTIVE DATE :
This act shall take effect immediately.

2009-S4279A (ACTIVE) - Bill Text download pdf

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

                                 4279--A

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 21, 2009
                               ___________

Introduced  by  Sen.  STACHOWSKI  -- read twice and ordered printed, and
  when printed to be committed to the Committee  on  Investigations  and
  Government  Operations  -- committee discharged, bill amended, ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the tax law, in relation to providing a tax  credit  for
  the purchase of certified sustainably harvested wood products

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

  Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
subsection (qq) to read as follows:
  (QQ)  CERTIFIED  SUSTAINABLY  HARVESTED  WOOD PRODUCTS TAX CREDIT. (1)
ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A  CREDIT  AGAINST  THE
TAX  IMPOSED  BY  THIS  ARTICLE  FOR  THE  COST  OF MATERIAL INCURRED IN
CONNECTION WITH THE INSTALLATION OF CERTIFIED SUSTAINABLY HARVESTED WOOD
PRODUCTS IN HIS OR HER PRINCIPAL RESIDENCE, IF SUCH RESIDENCE IS LOCATED
IN THIS STATE.   THE AMOUNT OF THE  CREDIT  SHALL  BE  EQUAL  TO  TWENTY
PERCENT OF THE MATERIAL COST OF SUCH FLOORING.
  (2) MULTIPLE TAXPAYERS. IF THE PRINCIPAL RESIDENCE IS SHARED BY TWO OR
MORE TAXPAYERS, THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION
FOR  EACH  SUCH  ELIGIBLE  TAXPAYER  SHALL  BE PRORATED ACCORDING TO THE
PERCENTAGE OF THE TOTAL EXPENDITURE INCURRED BY EACH TAXPAYER.
  (3) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT  ALLOWED  UNDER
THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR
SUCH  YEAR,  THE  EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE
CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS  OF  SECTION  SIX
HUNDRED  EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST
SHALL BE PAID THEREON.
  (4) THE TERM "CERTIFIED SUSTAINABLY HARVESTED  WOOD  PRODUCTS"  MEANS,
FOR  PURPOSES  OF THIS SUBSECTION, WOOD FLOORING THAT HAS BEEN CERTIFIED
TO BE IN COMPLIANCE WITH THE STANDARDS ENDORSED BY THE  FOREST  STEWARD-
SHIP  COUNCIL  OR  SUSTAINABLE  FORESTRY INITIATIVE OR OTHER THIRD PARTY

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10887-05-9

S. 4279--A                          2

INDEPENDENT CERTIFICATION ENTITY, WHICH THE COMMISSIONER IN CONSULTATION
WITH THE COMMISSIONER OF ENVIRONMENTAL CONSERVATION, DETERMINES SUSTAIN-
ABLE FORESTRY PRACTICES  ARE  ASSURED  THROUGH  EXTENSIVE  FOREST  REGU-
LATIONS,  EFFECTIVE  ENFORCEMENT  AND  AN  OPEN,  DEMOCRATIC  GOVERNANCE
SYSTEM.
  S 2. Section 210 of the tax law is amended by adding a new subdivision
41 to read as follows:
  41. CREDIT  FOR  PURCHASE  OF  CERTIFIED  SUSTAINABLY  HARVESTED  WOOD
PRODUCTS.  (A)  A  TAXPAYER  SHALL  BE  ALLOWED A CREDIT AGAINST THE TAX
IMPOSED BY THIS ARTICLE FOR THE COST OF MATERIAL INCURRED IN  CONNECTION
WITH  THE  INSTALLATION OF CERTIFIED SUSTAINABLY HARVESTED WOOD PRODUCTS
IN REAL PROPERTY LOCATED IN THIS STATE. THE AMOUNT OF THE  CREDIT  SHALL
BE  EQUAL  TO  TWENTY PERCENT OF THE MATERIAL COST OF SUCH FLOORING. THE
CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY YEAR SHALL NOT REDUCE  THE
TAX  DUE FOR SUCH YEAR TO LESS THAN THE HIGHER OF THE AMOUNTS PRESCRIBED
IN PARAGRAPHS (C) AND (D) OF SUBDIVISION ONE OF THIS SECTION. IF, HOWEV-
ER, THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBDIVISION FOR ANY  TAXA-
BLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUC-
TIBLE  IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR
YEARS AND MAY BE DEDUCTED FROM THE  TAXPAYER'S  TAX  FOR  SUCH  YEAR  OR
YEARS.
  (B)  THE  TERM  "CERTIFIED SUSTAINABLY HARVESTED WOOD PRODUCTS" MEANS,
FOR PURPOSES OF THIS SUBSECTION, WOOD FLOORING THAT HAS  BEEN  CERTIFIED
TO  BE  IN COMPLIANCE WITH THE STANDARDS ENDORSED BY THE FOREST STEWARD-
SHIP COUNCIL OR SUSTAINABLE FORESTRY INITIATIVE  OR  OTHER  THIRD  PARTY
INDEPENDENT CERTIFICATION ENTITY, WHICH THE COMMISSIONER IN CONSULTATION
WITH THE COMMISSIONER OF ENVIRONMENTAL CONSERVATION, DETERMINES SUSTAIN-
ABLE  FORESTRY  PRACTICES  ARE  ASSURED  THROUGH  EXTENSIVE FOREST REGU-
LATIONS,  EFFECTIVE  ENFORCEMENT  AND  AN  OPEN,  DEMOCRATIC  GOVERNANCE
SYSTEM.
  S 3. This act shall take effect immediately.

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Find your Senator and share your views on important issues.

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Senate Bill S4279

Sponsored By

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

Actions

Bill Amendments

2009-S4279 - Details

2009-S4279 - Summary

2009-S4279 - Sponsor Memo

2009-S4279 - Bill Text download pdf

2009-S4279A (ACTIVE) - Details

2009-S4279A (ACTIVE) - Summary

2009-S4279A (ACTIVE) - Sponsor Memo

2009-S4279A (ACTIVE) - Bill Text download pdf

Comments

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Get Status Alerts for 2009-S4279

Senate Bill S4279

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Sponsored By

William T. Stachowski

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

Actions

Bill Amendments

2009-S4279 - Details

2009-S4279 - Summary

2009-S4279 - Sponsor Memo

2009-S4279 - Bill Text download pdf

2009-S4279A (ACTIVE) - Details

2009-S4279A (ACTIVE) - Summary

2009-S4279A (ACTIVE) - Sponsor Memo

2009-S4279A (ACTIVE) - Bill Text download pdf

Comments