Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 17, 2012 |
vetoed memo.183 |
Dec 05, 2012 |
delivered to governor |
Jun 19, 2012 |
returned to senate passed assembly ordered to third reading rules cal.350 substituted for a9110 |
Jun 12, 2012 |
referred to ways and means delivered to assembly passed senate ordered to third reading cal.1170 reported and committed to rules |
May 02, 2012 |
reported and committed to finance |
Jan 04, 2012 |
referred to investigations and government operations |
Senate Bill S6134
Vetoed By Governor2011-2012 Legislative Session
Sponsored By
(R, IP) Senate District
Archive: Last Bill Status - Vetoed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Vetoed By Governor
- Signed By Governor
Actions
Votes
co-Sponsors
(D, WF) 63rd Senate District
(D, WF) Senate District
(R, C, IP) Senate District
(D, IP) Senate District
2011-S6134 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9110
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยงยง606, 210, 1456 & 1511, Tax L
2011-S6134 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6134 TITLE OF BILL: An act to amend the tax law, in relation to increasing the maximum award available under the historic preservation tax credit PURPOSE: To increase to $12 million the maximum award available under the historic preservation tax credit. SUMMARY OF SPECIFIC PROVISIONS: Sections 1-4 amend the tax law to raise the maximum award available under the historic preservation tax credit to $12 million from $5 million. Section 5 is the effective date. JUSTIFICATION: The Historic Preservation Tax Credit is a great tool to be used to revitalize historic properties throughout New York. This tax credit has been used successfully by developers throughout New York to redo buildings that have long fallen into neglect and in dire need of repair. However, there is a current cap of $5 million per project. This $5 million cap, acts as a disincentive for developers to tackle larger,
2011-S6134 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6134 I N S E N A T E (PREFILED) January 4, 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 increasing the maximum award available under the historic preservation tax credit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (A) of paragraph 1 of subsection (oo) of section 606 of the tax law, as amended by chapter 472 of the laws of 2010, is amended to read as follows: (A) For taxable years beginning on or after January first, two thou- sand ten and before January first, two thousand fifteen, a taxpayer shall be allowed a credit as hereinafter provided, against the tax imposed by this article, in an amount equal to one hundred percent of the amount of credit allowed the taxpayer with respect to a certified historic structure under subsection (a) (2) of section 47 of the federal internal revenue code with respect to a certified historic structure located within the state. Provided, however, the credit shall not exceed [five] TWELVE million dollars. For taxable years beginning on or after January first, two thousand fifteen, a taxpayer shall be allowed a cred- it as hereinafter provided, against the tax imposed by this article, in an amount equal to thirty percent of the amount of credit allowed the taxpayer with respect to a certified historic structure under subsection (a)(2) of section 47 of the federal internal revenue code with respect to a certified historic structure located within the state; provided, however, the credit shall not exceed one hundred thousand dollars. S 2. Subparagraph (A) of paragraph 1 of subdivision 40 of section 210 of the tax law, as amended by chapter 472 of the laws of 2010, is amended to read as follows: (A) For taxable years beginning on or after January first, two thou- sand ten and before January first, two thousand fifteen, a taxpayer shall be allowed a credit as hereinafter provided, against the tax imposed by this article, in an amount equal to one hundred percent of EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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