|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 04, 2012||referred to investigations and government operations|
|Jan 05, 2011||referred to investigations and government operations|
senate Bill S789
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S789 - Details
- Current Committee:
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§210 & 606, Tax L; add Art 18-D §§972 - 972-i, Gen Muni L; amd §922, RPT L; amd §302, Ag & Mkts L
- Versions Introduced in 2009-2010 Legislative Session:
S789 - Summary
Establishes a working farmland property tax credit for owners of agricultural assessment land within agricultural districts.
S789 - Sponsor Memo
BILL NUMBER:S789 TITLE OF BILL: An act to amend the tax law, the general municipal law, the real property tax law and the agriculture and markets law, in relation to the establishment of a working farmland property tax credit for owners of agricultural assessment land within agricultural districts PURPOSE: To establish a working farmland property tax credit for owners of agricultural districts. SUMMARY OF PROVISIONS: The Tax Law, General Municipal Law, Real Property Tax Law, and the Agriculture and Markets Law, would be amended to establish and structure program parameters for the working Farmland Tax Credit. In exchange for a commitment to keep land in active agricultural use for eight years, an eligible landowner would be eligible for a state income tax credit equal to the total amount paid in school and local municipal property taxes less any credits claimed under the Farmers' School Tax Credit program.
S789 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 789 2011-2012 Regular Sessions I N S E N A T E (PREFILED) January 5, 2011 ___________ Introduced by Sens. YOUNG, BONACIC, RANZENHOFER, SEWARD -- 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, the general municipal law, the real proper- ty tax law and the agriculture and markets law, in relation to the establishment of a working farmland property tax credit for owners of agricultural assessment land within agricultural districts THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative intent. The legislature hereby finds, deter- mines and declares that the New York agriculture industry has a substan- tial impact on the overall economic health and well-being of the state. The state constitution provides that the policy of the state shall be to encourage the development and improvement of its agricultural lands for the production of food and other agricultural products. The activities of farmers and the protection of viable farmland provide many environ- mental benefits to society, such as open space, scenic vistas, wetlands that aid in water purification, plants that purify air, and food, water and habitat for people, domestic animals and wildlife. Therefore, it is in the public interest to encourage the maintenance of existing farmland and agricultural lands for farming purposes, thereby helping to ensure the continued economic viability of farm operations. S 2. Section 210 of the tax law is amended by adding a new subdivision 22-a to read as follows: 22-A. WORKING FARMLAND PROPERTY TAX CREDIT. (A) GENERAL. IN THE CASE OF A TAXPAYER THAT OWNS AGRICULTURAL ASSESSMENT LAND WHICH IS ELIGIBLE FOR THE WORKING FARMLAND PROPERTY TAX CREDIT ESTABLISHED PURSUANT TO ARTICLE EIGHTEEN-D OF THE GENERAL MUNICIPAL LAW AND AN AGRICULTURAL DISTRICT ESTABLISHED PURSUANT TO ARTICLE TWENTY-FIVE-AA OF THE AGRICUL- TURE AND MARKETS LAW, AND THE TAXPAYER HAS EXECUTED A COVENANT TO EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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