NY State Senate Bill 2009-S5707

Senate Bill S5707

2009-2010 Legislative Session

Grants a personal income and business franchise tax credits to publishers of newspapers that are published 5 or more days a week

download bill text pdf

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

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 06, 2010	referred to investigations and government operations
May 28, 2009	referred to investigations and government operations

2009-S5707 (ACTIVE) - Details

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

2009-S5707 (ACTIVE) - Summary

Grants personal income and business franchise tax credits to publishers of newspapers that are published 5 or more days a week.

2009-S5707 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S5707

 TITLE OF BILL :

An act to amend the tax law, in relation to granting certain
publishers of newspapers a credit against business corporation
franchise and personal income taxes


 PURPOSE :

Grants a personal income and business franchise tax credits to
publishers of newspapers that are published 5 or more days a week.

 SUMMARY OF PROVISIONS :

Section one adds a new subdivision 41 to section 210 of the tax law,
credit for newspaper publication.

Section two adds a new clause (xxxi) to subparagraph (B) of paragraph
1 of subsection (i) of section 606 of the tax law.

Section three adds a new subsection (qq) to section 606 of the tax
law, Newspaper publication credit.

 JUSTIFICATION :

One of the greatest fundamental rights that we have as Americans is
the freedom of the press.The First Amendment of the United States
Constitution states that "Congress shall make no law...abridging the
freedom of speech, or of the press...".  Without the First Amendment
the press could not criticize government.

The First Amendment is at the core of our American values. The press
reports to us on news that impacts us on a global, national, state and
local scale. The best and strongest country is one that allows for the
free exchange of ideas and facts. Freedom of the press is a right that
needs to be protected and promoted not just in America but throughout
the world.

Newspapers provide information that promotes a better quality of life
by keeping the public informed of current events. Democracy is better
served when there is oversight by newspapers across the state and
nation. Lack of oversight can lead to an uninformed electorate and
citizenry. Newspapers in New York State represent thousands of workers
and they are what hold communities together. Newspapers are vital in
informing the public and they reflect the values of America and New
York State. Because of the valuable service newspapers provide to our
citizens, this bill would give newspaper publishers, who publish at
least five times a week, a 20% tax credit on their New York State
income tax return.

Newspapers provide valuable community services by keeping the public
informed of current issues affecting their daily lives. It is only
fair to provide newspapers this incentive which will allow them to
continue the valuable services they provide to our state and country.

"Were it left to me to decide whether we should have a government
without newspapers, or newspapers without a government, I should not
hesitate a moment to prefer the latter."

- Thomas Jefferson, letter to Col. Edward Carrington, Jan. 16, 1787

 LEGISLATIVE HISTORY :

New bill.
 FISCAL IMPLICATIONS :

Undetermined.

 EFFECTIVE DATE :
Immediately and shall apply to taxable years commencing on or after
January 1, 2009.

2009-S5707 (ACTIVE) - Bill Text download pdf

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

                                  5707

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                              May 28, 2009
                               ___________

Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation to granting certain  publishers
  of  newspapers  a  credit  against  business corporation franchise and
  personal income taxes

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

  Section  1.  Section  210  of  the  tax law is amended by adding a new
subdivision 41 to read as follows:
  41. CREDIT FOR NEWSPAPER PUBLICATION. A TAXPAYER, WHICH IS ENGAGED  IN
THE  PUBLICATION OF A NEWSPAPER WHEN SUCH NEWSPAPER IS PUBLISHED FIVE OR
MORE DAYS EACH CALENDAR WEEK, SHALL BE ALLOWED A CREDIT, TO BE  CREDITED
AGAINST THE TAX IMPOSED BY THIS ARTICLE, EQUAL TO TWENTY PERCENT OF SUCH
TAX IMPOSED UPON THE INCOME DERIVED FROM THE PUBLICATION OF SUCH NEWSPA-
PER.
  S  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a  new  clause  (xxxi)  to  read  as
follows:
(XXXI) CREDIT FOR                    AMOUNT OF CREDIT
NEWSPAPER PUBLICATION                UNDER SUBDIVISION
UNDER SUBSECTION (QQ)                FORTY-ONE OF SECTION
                                     TWO HUNDRED TEN
  S  3. Section 606 of the tax law is amended by adding a new subsection
(qq) to read as follows:
  (QQ) NEWSPAPER PUBLICATION CREDIT. A TAXPAYER, WHICH IS ENGAGED IN THE
PUBLICATION OF A NEWSPAPER WHEN SUCH NEWSPAPER IS PUBLISHED FIVE OR MORE
DAYS EACH CALENDAR WEEK, SHALL BE  ALLOWED  A  CREDIT,  TO  BE  CREDITED
AGAINST THE TAX IMPOSED BY THIS ARTICLE, EQUAL TO TWENTY PERCENT OF SUCH
TAX IMPOSED UPON INCOME DERIVED FROM THE PUBLICATION OF SUCH NEWSPAPER.
  S 4. This act shall take effect immediately and shall apply to taxable
years commencing on or after January 1, 2009.

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

                                                           LBD14046-01-9

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.