Senate Bill S326

2009-2010 Legislative Session

Establishes a forestry stewardship and habitat conservation credit for personal income and business franchise taxes

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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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2009-S326 (ACTIVE) - Details

See Assembly Version of this Bill:
A563
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd ยงยง606 & 210, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S346, A152
2013-2014: S1005, A4512
2015-2016: S602, A3377, A8178
2017-2018: S138, A1874
2019-2020: S1939, A2296
2021-2022: S5181, A787
2023-2024: S31, A161

2009-S326 (ACTIVE) - Summary

Establishes a forestry stewardship and habitat conservation credit for personal income and business franchise taxes.

2009-S326 (ACTIVE) - Sponsor Memo

2009-S326 (ACTIVE) - Bill Text download pdf

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

    S. 326                                                    A. 563

                       2009-2010 Regular Sessions

                      S E N A T E - A S S E M B L Y

                               (PREFILED)

                             January 7, 2009
                               ___________

IN  SENATE -- Introduced by Sen. LITTLE -- read twice and ordered print-
  ed, and when printed to be committed  to  the  Committee  on  Investi-
  gations and Government Operations

IN  ASSEMBLY -- Introduced by M. of A. SAYWARD -- read once and referred
  to the Committee on Ways and Means

AN ACT to amend the tax law, in  relation  to  establishing  a  forestry
  stewardship  and  habitat  conservation credit for personal income and
  business franchise taxes

  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) FORESTRY STEWARDSHIP AND HABITAT CONSERVATION CREDIT. (1) IN  THE
CASE  OF  A TAXPAYER WHO OWNS LAND THAT IS SUBJECT  TO AN AGREEMENT WITH
THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION,  BY  WHICH  SUCH  LAND  IS
COMMITTED  TO  FORESTRY  STEWARDSHIP,  OR HABITAT CONSERVATION, OR BOTH,
THERE SHALL BE ALLOWED A CREDIT FOR TWENTY-FIVE PERCENT OF THE ALLOWABLE
SCHOOL DISTRICT, COUNTY AND TOWN AND REAL PROPERTY TAXES ON  SUCH  LAND.
IN  NO  EVENT SHALL THE CREDIT ALLOWED UNDER THIS SUBSECTION IN COMBINA-
TION WITH ANY OTHER CREDIT FOR SUCH SCHOOL  DISTRICT,  COUNTY  AND  TOWN
REAL PROPERTY TAXES UNDER THIS SECTION EXCEED SUCH TAXES.
  (2) FOR THE PURPOSES OF THIS SUBSECTION:
  (A)  "ELIGIBLE  TRACT"  SHALL  MEAN  A  TRACT  OF  LAND  OF  AT  LEAST
TWENTY-FIVE CONTIGUOUS ACRES THAT HAS BEEN INSPECTED BY  THE  DEPARTMENT
OF  ENVIRONMENTAL  CONSERVATION,  A  WILDLIFE BIOLOGIST CERTIFIED BY THE
WILDLIFE SOCIETY, OR A FISHERIES BIOLOGIST  CERTIFIED  BY  THE  AMERICAN
FISHERIES  SOCIETY,  AND  BASED  ON SUCH INSPECTION IS DETERMINED BY THE
DEPARTMENT OF ENVIRONMENTAL CONSERVATION TO  BE:  VALUABLE  HABITAT  FOR
WILDLIFE, FISH, SHELLFISH OR CRUSTACEA; OR SAFE AND SUITABLE FOR FISH OR

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

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