| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jan 04, 2012 |
referred to investigations and government operations |
Senate Bill S6135
2011-2012 Legislative Session
Sponsored By
(R, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
Actions
2011-S6135 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยงยง210 & 606, Tax L
2011-S6135 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6135
TITLE OF BILL:
An act
to amend the tax law, in relation to qualified emerging technology
company facilities, operations, and training credit
PURPOSE OR GENERAL IDEA OF BILL:
This bill extends the qualified
emerging technology company facilities, operations and training
credit for one year.
SUMMARY OF SPECIFIC PROVISIONS:
Relates to the qualified emerging
technology company facilities, operations and training credit. This
bill amends sections 210.12-G(h) and 606(nn)(8) to extend the sunset
of the corporate franchise tax (Article 9-A) and personal income tax
(Article 22) qualified emerging technologies company training credit
for 1 year. The credit would sunset for taxable years beginning after
December 31, 2012.
EXISTING LAW:
This credit expired and will not be allowed for taxable
years beginning on and after January 1, 2012.
JUSTIFICATION:
2011-S6135 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
6135
I N S E N A T E
(PREFILED)
January 4, 2012
___________
Introduced by Sen. ALESI -- 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 qualified emerging technolo-
gy company facilities, operations, and training credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph (h) of subdivision 12-G of section 210 of the tax
law, as amended by section 1-a of part A of chapter 63 of the laws of
2005, is amended to read as follows:
(h) The credit allowed under this subdivision shall not be applicable
for taxable years beginning on or after January first, two thousand
[twelve] THIRTEEN.
S 2. Paragraph 8 of subsection (nn) of section 606 of the tax law, as
amended by section 1-a of part A of chapter 63 of the laws of 2005, is
amended to read as follows:
(8) The credit allowed under this subsection shall not be applicable
for taxable years beginning on or after January first, two thousand
[twelve] THIRTEEN.
S 3. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2012.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD13802-01-1
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