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Assembly Bill A9934

2011-2012 Legislative Session

Increases the maximum amount of a tax credit allowable for rehabilitation of a certain historic property

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Archive: Last Bill Status - In Assembly Committee

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2011-A9934 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L

2011-A9934 (ACTIVE) - Summary

Increases the maximum amount of a tax credit allowable for rehabilitation of a certain historic property known as The Lafayette Hotel in Buffalo.

2011-A9934 (ACTIVE) - Bill Text download pdf 

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

                                  9934

                          I N  A S S E M B L Y

                             April 24, 2012
                               ___________

Introduced  by  M. of A. RYAN -- read once and referred to the Committee
  on Ways and Means

AN ACT to amend the tax law,  in  relation  to  increasing  the  maximum
  amount  of  a  tax  credit  allowable  for rehabilitation of a certain
  historic property

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

  Section 1. Subsection (oo) of section 606 of the tax law is amended by
adding a new paragraph 6 to read as follows:
  (6) NOTWITHSTANDING ANY PROVISION OF THIS SECTION TO THE CONTRARY, FOR
TAXABLE  YEARS  BEGINNING  ON  OR AFTER JANUARY FIRST, TWO THOUSAND TEN,
WITH REGARD TO THE PREMISES LOCATED AT 391 WASHINGTON STREET IN BUFFALO,
COUNTY OF BUFFALO, NEW YORK, AND COMMONLY KNOWN AS THE LAFAYETTE  HOTEL,
THE  CREDIT  ALLOWABLE  UNDER  PARAGRAPH ONE OF THIS SUBSECTION SHALL BE
ALLOWED IN AN AMOUNT NOT TO EXCEED TWELVE MILLION DOLLARS.
  S 2. This act shall take effect immediately.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15401-01-2

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