senate Bill S3752

2011-2012 Legislative Session

Relates to extending the dates of application of the investment tax credit

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Archive: Last Bill Status - STRICKEN


  • 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
Jan 09, 2012 recommit, enacting clause stricken
Jan 04, 2012 referred to banks
Mar 09, 2011 reported and committed to finance
Mar 03, 2011 referred to banks

Votes

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Mar 9, 2011 - Banks committee Vote

S3752
16
0
committee
16
Aye
0
Nay
3
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Banks committee vote details

Co-Sponsors

S3752 - Details

Current Committee:
Law Section:
Banking Law
Laws Affected:
Amd §235, Bank L; amd Part A §124, Chap 56 of 1998; amd Part L §2, Chap 63 of 2000

S3752 - Summary

Relates to extending the dates of application of the investment tax credit.

S3752 - Sponsor Memo

S3752 - Bill Text download pdf

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

                                  3752

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              March 3, 2011
                               ___________

Introduced  by  Sens.  GRIFFO, FARLEY -- read twice and ordered printed,
  and when printed to be committed to the Committee on Banks

AN ACT to amend the banking law, in relation to eligibility  of  invest-
  ment  funds  for tax credits; to amend chapter 56 of the laws of 1998,
  amending the tax law and other laws relating to extending the dates of
  application of the investment tax credit under articles 9-A, 22 and 32
  of the tax law; and to amend chapter 63 of the laws of 2000,  amending
  the tax law and other laws relating to extending the dates of applica-
  tion  of the investment tax credit under article 33 of the tax law, in
  relation to extending the effectiveness thereof

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

  Section  1.  Section 235 of the banking law is amended by adding a new
subdivision 32 to read as follows:
  32. INVESTMENTS OF FUNDS MADE PURSUANT TO THIS SECTION SHALL BE  TAXA-
BLE IN ACCORDANCE WITH ARTICLES NINE-A, TWENTY-TWO, THIRTY-TWO AND THIR-
TY-THREE  OF  THE  TAX  LAW  AND SHALL BE ELIGIBLE FOR AN INVESTMENT TAX
CREDIT, UNDER SUCH ARTICLES AS APPLICABLE.
  S 2. Paragraph c of subdivision 2 of section 124 of part A of  chapter
56  of the laws of 1998, amending the tax law and other laws relating to
extending the dates of application of the investment  tax  credit  under
articles  9-A, 22 and 32 of the tax law, as amended by section 1 of part
YY-1 of chapter 57 of the laws of 2008, is amended to read as follows:
  c. Sections fifteen through twenty-seven of this act  shall  apply  to
property  placed in service on or after October 1, 1998 and before Octo-
ber 1, [2011] 2015.
  S 3. Section 2 of part L of chapter 63 of the laws of  2000,  amending
the  tax  law and other laws relating to extending the dates of applica-
tion of the investment tax credit under article 33 of the  tax  law,  as
amended  by section 2 of part YY-1 of chapter 57 of the laws of 2008, is
amended to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09959-02-1

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