senate Bill S7788

Signed By Governor
2011-2012 Legislative Session

Provides that certain tax credits shall not apply if the certificate of remediation required to qualify for such credits is issued after December 31, 2015

download bill text pdf

Archive: Last Bill Status Via A10593 - Signed by Governor


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

do you support this bill?

Actions

view actions (9)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Oct 03, 2012 signed chap.474
Sep 21, 2012 delivered to governor
Jun 21, 2012 returned to assembly
passed senate
3rd reading cal.1522
substituted for s7788
Jun 21, 2012 substituted by a10593
ordered to third reading cal.1522
Jun 18, 2012 referred to rules

Votes

view votes

S7788 - Bill Details

See Assembly Version of this Bill:
A10593
Law Section:
Environmental Conservation
Laws Affected:
Amd Part H §31, Chap 1 of 2003

S7788 - Bill Texts

view summary

Provides that certain tax credits shall not apply if the certificate of remediation required to qualify for such credits is issued after December 31, 2015.

view sponsor memo
BILL NUMBER:S7788

TITLE OF BILL:

An act
to amend part H of chapter 1 of the laws of 2003, amending the tax law
relating to brownfield redevelopment tax credits, remediated brownfield
credit for real property taxes for qualified sites and environmental
remediation insurance credits, in relation to extending certain
provisions thereof

PURPOSE OR GENERAL IDEA OF BILL:

To extend certain tax credits for brownfield redevelopment.

SUMMARY OF SPECIFIC PROVISIONS:

This bill would extend, until December 31, 2015, the eligibility
timeframe for brownfield tax credits.

EFFECTS OF PRESENT LAW WHICH THIS BILL WOULD ALTER:

This bill would amend § 31 of Part H of Chapter 1 of the Laws of 2003.

JUSTIFICATION:

In 2003, the Legislature authorized tax credits as part of the
Brownfield Cleanup Program. The authority for those credits is set to
expire on March 31, 2015. This legislation will delay the sunset of
those tax credits until December 31, 2015.

PRIOR LEGISLATIVE HISTORY:

This is new legislation.

FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:

To be determined.

EFFECTIVE DATE:

This act shall take effect immediately.

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

                                  7788

                            I N  S E N A T E

                              June 18, 2012
                               ___________

Introduced  by COMMITTEE ON RULES -- read twice and ordered printed, and
  when printed to be committed to the Committee on Rules

AN ACT to amend part H of chapter 1 of the laws of  2003,  amending  the
  tax  law  relating to brownfield redevelopment tax credits, remediated
  brownfield credit for real property  taxes  for  qualified  sites  and
  environmental  remediation insurance credits, in relation to extending
  certain provisions thereof

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

  Section  1.  Section  31  of  part H of chapter 1 of the laws of 2003,
amending the tax law relating to brownfield redevelopment  tax  credits,
remediated brownfield credit for real property taxes for qualified sites
and  environmental  remediation insurance credits, is amended to read as
follows:
  S 31. The tax credits allowed under section 21, 22 or 23  of  the  tax
law  and  the corresponding provisions in articles 9, 9-A, 22, 32 and 33
of the tax law, as added by the provisions of sections one through twen-
ty-nine of this act, shall not be applicable if the remediation  certif-
icate  required  to  qualify  for  any  of  such credits is issued after
[March] DECEMBER 31, 2015.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD16131-01-2

Comments

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.