senate Bill S3175A

2011-2012 Legislative Session

Provides an exemption from the tax on sales and the compensating use tax for certain equipment purchased by companies located in college incubator facilities

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Archive: Last Bill Status - Passed Senate


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 12, 2012 referred to ways and means
delivered to assembly
passed senate
Jun 04, 2012 advanced to third reading
May 31, 2012 2nd report cal.
May 30, 2012 1st report cal.951
May 22, 2012 reported and committed to finance
Mar 02, 2012 print number 3175a
amend and recommit to investigations and government operations
Jan 04, 2012 referred to investigations and government operations
Feb 10, 2011 referred to investigations and government operations

Votes

view votes

May 30, 2012 - Finance committee Vote

S3175A
26
3
committee
26
Aye
3
Nay
4
Aye with Reservations
0
Absent
2
Excused
0
Abstained
show Finance committee vote details

May 22, 2012 - Investigations and Government Operations committee Vote

S3175A
8
0
committee
8
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: May 22, 2012

Bill Amendments

Original
A (Active)
Original
A (Active)

Co-Sponsors

S3175 - Bill Details

See Assembly Version of this Bill:
A5027A
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §1115, Tax L
Versions Introduced in 2009-2010 Legislative Session:
S1997, A2815

S3175 - Bill Texts

view summary

Provides an exemption from the tax on sales and the compensating use tax for equipment, with a purchase price of five hundred dollars or greater, purchased by companies located in college incubator facilities or incubator facilities funded by the state.

view sponsor memo
BILL NUMBER:S3175

TITLE OF BILL:
An act
to amend the tax law, in relation to providing an exemption from the tax
on sales and the compensating use tax for certain equipment purchased by
companies located in academic incubator facilities

PURPOSE:
This legislation is consistent with our state's general efforts to
encourage the creation and growth of small business. Companies in
incubators, by their nature, are small and have limited resources.
This bill alleviates a small but significant tax burden on these
firms by exempting them from sales tax on equipment that costs $500
or more.

SUMMARY OF PROVISIONS:
Section 1 of the bill amends section 1115 of the tax law which
provides companies that are located in an academic incubator facility
with a sales tax exemption for the purchase of equipment with a price
of $500 or more, and provides for the definition of an academic
incubator.

JUSTIFICATION:
During the last decade, one of the most effective state tools used to
encourage job growth and creation has been its investment in high
technology incubators. Incubator facilities provide researchers and
entrepreneurs with the physical space and support staff necessary to
help transfer the technology developed in the laboratory into a
commercial product of value.

Efforts to develop research ideas into viable products are usually done
with limited resources.
Costs of operation must be kept at a minimum to allow researchers the
opportunity to advance their theories. Incubators certainly provide
low cost office space, however, rents are not the only expense that
these businesses incur. Equipment costs can also be a major
impediment to the success of the business. To help reduce this cost
this bill would exempt business. To help rescue this cost this bill
would exempt businesses located in incubators from sales tax on
equipment purchases. Taxing this equipment is contrary to the general
concept of incubators, which is to
reduce the cost associated with a start-up firm struggling to develop
its ideas/research into a product.

The amendment clarifies that the exemption is only for those companies
located in an academic incubator facility and the equipment be used
in the incubator facility.

LEGISLATIVE HISTORY:
2009-2010, S.1997; 2007-08, S.942B; 2005-06, S.1415A; 2003-04, S.485;
2001-02, S.2341.

FISCAL IMPLICATIONS:
Implementation: There would be some loss of state revenue.


EFFECTIVE DATE:
This act shall take effect September 1, 2011.

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

    S. 3175                                                  A. 5027

                       2011-2012 Regular Sessions

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

                            February 10, 2011
                               ___________

IN  SENATE  --  Introduced  by  Sens.  LAVALLE, LARKIN -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Investigations and Government Operations

IN  ASSEMBLY  --  Introduced by M. of A. SCHIMMINGER, SWEENEY, COLTON --
  Multi-Sponsored by -- M. of A. KOLB, MAGEE -- read once  and  referred
  to the Committee on Ways and Means

AN  ACT to amend the tax law, in relation to providing an exemption from
  the tax on sales and the compensating use tax  for  certain  equipment
  purchased by companies located in academic incubator facilities

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

  Section 1. Subdivision (a) of section 1115 of the tax law  is  amended
by adding a new paragraph 44 to read as follows:
  (44) EQUIPMENT WITH A PURCHASE PRICE OF FIVE HUNDRED DOLLARS OR GREAT-
ER  PURCHASED  BY  ANY  COMPANY LOCATED IN AN INCUBATOR FACILITY THAT IS
ASSOCIATED WITH A COLLEGE, AS DEFINED IN SUBDIVISION TWO OF SECTION  TWO
OF  THE  EDUCATION  LAW,  OR AN INCUBATOR FACILITY THAT IS FUNDED BY THE
STATE. SUCH EQUIPMENT MUST BE USED  DIRECTLY  AND  PREDOMINATELY  WITHIN
SUCH INCUBATOR FACILITY.
  S 2. This act shall take effect September 1, 2011.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06551-01-1

Co-Sponsors

S3175A (ACTIVE) - Bill Details

See Assembly Version of this Bill:
A5027A
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §1115, Tax L
Versions Introduced in 2009-2010 Legislative Session:
S1997, A2815

S3175A (ACTIVE) - Bill Texts

view summary

Provides an exemption from the tax on sales and the compensating use tax for equipment, with a purchase price of five hundred dollars or greater, purchased by companies located in college incubator facilities or incubator facilities funded by the state.

view sponsor memo
BILL NUMBER:S3175A

TITLE OF BILL:
An act
to amend the tax law, in relation to providing an exemption from the tax
on sales and the compensating use tax for certain equipment purchased by
companies located in academic incubator facilities

PURPOSE:
This legislation is consistent with our state's general efforts to
encourage the creation and growth of small business. Companies in
incubators, by their nature, are small and have limited resources.
This bill alleviates a small but significant tax burden on these
firms by exempting them from sales tax on equipment that costs $500
or more.

SUMMARY OF PROVISIONS:
Section 1 of the bill amends section 1115 of the tax law which
provides companies that are located in an academic incubator facility
with a sales tax exemption for the purchase of equipment with a price
of $500 or more, and provides for the definition of an academic
incubator.

JUSTIFICATION:
During the last decade, one of the most effective state tools used to
encourage job growth and creation has been its investment in high
technology incubators. Incubator facilities provide researchers and
entrepreneurs with the physical space and support staff necessary to
help transfer the technology developed in the laboratory into a
commercial product of value.

Efforts to develop research ides into viable products are usually done
with limited resources.
Costs of operation must be kept at a minimum to allow researchers the
opportunity to advance their theories. Incubators certainly provide
low cost office space, however, rents are not the only expense that
these businesses incur. Equipment costs can also be a major
impediment to the success of the business. To help reduce this cost
this bill would exempt business. To help rescue this cost this bill
would exempt businesses located in incubators from sales tax on
equipment purchases. Taxing this equipment is contrary to the general
concept of incubators, which is to
reduce the cost associated with a start-up firm struggling to develop
its ides/research into a product.

The amendment clarifies that the exemption is only for those companies
located in an academic incubator facility and the equipment be used
in the incubator facility.

LEGISLATIVE HISTORY:
2009-10: S.1997
2007-08 S.942B
2005-06 S.1415A
2003-04 S.485
2001-02: S.2341


FISCAL IMPLICATIONS:
Implementation: There would be some loss of state revenue.

EFFECTIVE DATE:
This act shall take effect September 1, 2012.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

    S. 3175--A                                            A. 5027--A

                       2011-2012 Regular Sessions

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

                            February 10, 2011
                               ___________

IN  SENATE -- Introduced by Sens. LAVALLE, ALESI, LARKIN, O'MARA -- 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  commit-
  tee

IN  ASSEMBLY  --  Introduced by M. of A. SCHIMMINGER, SWEENEY, COLTON --
  Multi-Sponsored by -- M. of A. KOLB, MAGEE -- read once  and  referred
  to  the Committee on Ways and Means -- recommitted to the Committee on
  Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN ACT to amend the tax law, in relation to providing an exemption  from
  the  tax  on  sales and the compensating use tax for certain equipment
  purchased by companies located in academic incubator facilities

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

  Section  1.  Subdivision (a) of section 1115 of the tax law is amended
by adding a new paragraph 44 to read as follows:
  (44) EQUIPMENT WITH A PURCHASE PRICE OF FIVE HUNDRED DOLLARS OR GREAT-
ER PURCHASED BY ANY COMPANY LOCATED IN AN  INCUBATOR  FACILITY  THAT  IS
ASSOCIATED  WITH A COLLEGE, AS DEFINED IN SUBDIVISION TWO OF SECTION TWO
OF THE EDUCATION LAW, OR AN INCUBATOR FACILITY THAT  IS  FUNDED  BY  THE
STATE.  SUCH  EQUIPMENT  MUST  BE USED DIRECTLY AND PREDOMINATELY WITHIN
SUCH INCUBATOR FACILITY.
  S 2. This act shall take effect September 1, 2012.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06551-02-2

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