Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 18, 2010 |
referred to investigations and government operations |
Senate Bill S7171
2009-2010 Legislative Session
Sponsored By
(R, C, Ind, WF) Senate District
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
Actions
co-Sponsors
(R, C) Senate District
(R, C, IP) Senate District
(R) Senate District
(R, C, Ind) Senate District
2009-S7171 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10024
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยงยง210 & 606, Tax L
2009-S7171 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7171 TITLE OF BILL : An act to amend the tax law, in relation to empire zones PURPOSE : Authorize taxpayers certified as an empire zone business immediately preceding the day the empire zones program expired to be deemed certified until April 1, 2014. SUMMARY OF PROVISIONS : Extend the enhanced investment tax credit until 2014 for businesses certified under the Empire Zone. JUSTIFICATION : The enhanced Investment Tax Credit (ITC) is available to manufacturers under the Empire Zone (EZ) program for production equipment related to manufacture of product at zone location. ITC is an important incentive under the EZ program. ITC will no longer be available to certified businesses, businesses that were promised this incentive when they made this investment, after the EZ program sunsets in June, even though other incentives will still be available until each agreement expires. This is a downgrade of incentives. A number of businesses are in the process of making a decision whether or not to locate/ invest in NYS. This is an immediate legislative solution to maintain and attract businesses and employees. No action could kill many projects and jobs.
2009-S7171 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7171 I N S E N A T E March 18, 2010 ___________ Introduced by Sens. MORAHAN, LARKIN, RANZENHOFER, VOLKER, WINNER -- 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 empire zones THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 12-B of section 210 of the tax law is amended by adding a new paragraph (g) to read as follows: (G) NOTWITHSTANDING THE EXPIRATION OF THE EMPIRE ZONES PROGRAM UNDER ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, A TAXPAYER THAT IS CERTIFIED AS AN EMPIRE ZONE BUSINESS PURSUANT TO SUCH ARTICLE EIGHTEEN-B ON THE DAY IMMEDIATELY PRECEDING THE DAY THE EMPIRE ZONES PROGRAM EXPIRED SHALL CONTINUE TO BE DEEMED CERTIFIED UNDER SUCH ARTICLE EIGH- TEEN-B FOR PURPOSES OF THIS SUBDIVISION UNTIL APRIL FIRST, TWO THOUSAND FOURTEEN. IN ADDITION THE AREAS DESIGNATED AS EMPIRE ZONES IN WHICH THE TAXPAYER IS CERTIFIED AS AN EMPIRE ZONE BUSINESS ON THE DAY IMMEDIATELY PRECEDING THE DAY THE EMPIRE ZONES PROGRAM EXPIRED SHALL CONTINUE TO BE DEEMED EMPIRE ZONES FOR PURPOSES OF THIS SUBDIVISION UNTIL APRIL FIRST, TWO THOUSAND FOURTEEN. S 2. Subsection (j) of section 606 of the tax law is amended by adding a new paragraph 7 to read as follows: (7) NOTWITHSTANDING THE EXPIRATION OF THE EMPIRE ZONES PROGRAM UNDER ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, A TAXPAYER THAT IS CERTIFIED AS AN EMPIRE ZONE BUSINESS PURSUANT TO SUCH ARTICLE EIGHTEEN-B ON THE DAY IMMEDIATELY PRECEDING THE DAY THE EMPIRE ZONES PROGRAM EXPIRED SHALL CONTINUE TO BE DEEMED CERTIFIED UNDER SUCH ARTICLE EIGH- TEEN-B FOR PURPOSES OF THIS SUBSECTION UNTIL APRIL FIRST, TWO THOUSAND FOURTEEN. IN ADDITION THE AREAS DESIGNATED AS EMPIRE ZONES IN WHICH THE TAXPAYER IS CERTIFIED AS AN EMPIRE ZONE BUSINESS ON THE DAY IMMEDIATELY PRECEDING THE DAY THE EMPIRE ZONES PROGRAM EXPIRED SHALL CONTINUE TO BE DEEMED EMPIRE ZONES FOR PURPOSES OF THIS SUBSECTION UNTIL APRIL FIRST, TWO THOUSAND FOURTEEN. S 3. Subdivision 12-C of section 210 of the tax law is amended by adding a new paragraph (d) to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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