|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 21, 2012||committed to rules|
|Jun 11, 2012||advanced to third reading|
|Jun 06, 2012||2nd report cal.|
|Jun 05, 2012||1st report cal.1068|
|May 22, 2012||reported and committed to finance|
|Apr 13, 2012||referred to investigations and government operations|
senate Bill S6942
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S6942 - Details
- Current Committee:
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§21, 22 & 23, Tax L; rpld part H §31, Chap 1 of 2003
S6942 - Summary
Relates to brownfield site cleanup; relates to the repeal of certain brownfield redevelopment tax credits.
S6942 - Sponsor Memo
BILL NUMBER:S6942 TITLE OF BILL: An act to amend the tax law, in relation to brownfield site cleanup; and to repeal section 31 of part H of chapter 1 of the laws of 2003 amending the tax law relating to brownfield redevelopment tax credits, relating thereto PURPOSE: To eliminate the sunset of the brownfields program; to extend time frames in relation to environmental zone designations; and to increase the tax credits allowed for environmental remediation insurance issued with respect to a qualified site. SUMMARY OF SPECIFIC PROVISIONS: Sections 1 and 2 amend the Tax Law in relation to environmental zones. The definition of "environmental zone" is amended to incorporate data from the most recent census. Time frames with respect to environmental zone designations are extended from two thousand ten to the year two thousand twelve. Section 3 amends the Tax Law by increasing the tax credits allowed for environmental remediation insurance issued with respect to a
S6942 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6942 I N S E N A T E April 13, 2012 ___________ Introduced by Sen. GRISANTI -- 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 brownfield site cleanup; and to repeal section 31 of part H of chapter 1 of the laws of 2003 amend- ing the tax law relating to brownfield redevelopment tax credits, relating thereto THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 6 of subdivision (b) of section 21 of the tax law, as amended by section 1 of part H of chapter 577 of the laws of 2004, subparagraph (B) and the closing paragraph as amended by section 1 of part G of chapter 62 of the laws of 2006, is amended to read as follows: (6) Environmental zones (EN-Zones). An "environmental zone" shall mean an area designated as such by the commissioner of economic development. Such areas so designated are areas which are census tracts and block numbering areas which, as of the [two thousand] MOST RECENT census, satisfy either of the following criteria: (A) areas that have both: (i) a poverty rate of at least twenty percent for the year to which the data relate; and (ii) an unemployment rate of at least one and one-quarter times the statewide unemployment rate for the year to which the data relate, or; (B) areas that have a poverty rate of at least two times the poverty rate for the county in which the areas are located for the year to which the data relate [provided, however, that a qualified site shall only be deemed to be located in an environmental zone under this subparagraph (B) if such site was the subject of a brownfield site cleanup agreement pursuant to section 27-1409 of the environmental conservation law that was entered into prior to September first, two thousand ten]. Such designation shall be made and a list of all such environmental zones shall be established by the commissioner of economic development no later than December thirty-first, two thousand [four provided, howev- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. 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.