Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Jul 18, 2012 | signed chap.109 |
Jul 17, 2012 | delivered to governor |
Jun 19, 2012 | returned to senate passed assembly ordered to third reading rules cal.375 substituted for a10695 |
Jun 18, 2012 | referred to ways and means delivered to assembly passed senate ordered to third reading cal.1300 |
Jun 15, 2012 | referred to rules |
senate Bill S7728
Signed By GovernorSponsored By
Lee M. Zeldin
(R, C, IP) 0 Senate District
Archive: Last Bill Status - Signed by Governor
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed by Governor
Your Voice
Actions
Votes
Co-Sponsors
Joseph A. Griffo
(R, C) 53rd Senate District
James L. Seward
(R, C, IP, RFM) 0 Senate District
Catharine Young
(R, C, IP) 0 Senate District
Joseph E. Robach
(R, C, IP) 0 Senate District
S7728 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10695
- Law Section:
- Tax Law
- Laws Affected:
- Add §37, amd §§210 & 606, rpld §424 sub 6, Tax L; amd §107-a, ABC L
S7728 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7728 TITLE OF BILL: An act to amend the tax law, in relation to establishing a credit under articles 9-A and 22 of such law for beer produced within the state by a taxpayer that is registered as a distributor under article 18 of the tax law; to amend the alcoholic beverage control law, in relation to the exemption from the beer label registration fee; and to repeal subdivi- sion 6 of section 424 of the tax law, relating to the exemption for beer produced and sold within the state by certain distributors under article 18 of the tax law PURPOSE: This bill would encourage the growth of so-called "craft breweries" and small breweries in New York and would create an incentive for brewers located outside New York to build production facilities and create jobs within the State. SUMMARY OF PROVISIONS: Sections 1 through 4 of the bill would provide refundable corporate franchise and personal income tax credits for beer produced within the State by registered distributors that produce 60 million or fewer gallons of beer in a taxable year. For the first 500,000 gallons of beer
S7728 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 7728 A. 10695 S E N A T E - A S S E M B L Y June 15, 2012 ___________ IN SENATE -- Introduced by Sens. ZELDIN, GRIFFO, SEWARD, YOUNG, ROBACH, NOZZOLIO -- (at request of the Governor) -- read twice and ordered printed, and when printed to be committed to the Committee on Rules IN ASSEMBLY -- Introduced by COMMITTEE ON RULES -- (at request of M. of A. Brindisi, Lentol, Barrett, Bronson, Cymbrowitz, Gabryszak, Lifton, Lupardo, Magee, Millman, Morelle, Roberts, Russell, Schimminger, Skar- tados, Zebrowski) -- (at request of the Governor) -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to establishing a credit under articles 9-A and 22 of such law for beer produced within the state by a taxpayer that is registered as a distributor under article 18 of the tax law; to amend the alcoholic beverage control law, in relation to the exemption from the beer label registration fee; and to repeal subdivision 6 of section 424 of the tax law, relating to the exemption for beer produced and sold within the state by certain distributors under article 18 of the tax law THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 37 to read as follows: S 37. BEER PRODUCTION CREDIT. (A) GENERAL. A TAXPAYER SUBJECT TO TAX UNDER ARTICLE NINE-A OR TWENTY-TWO OF THIS CHAPTER, THAT IS REGISTERED AS A DISTRIBUTOR UNDER ARTICLE EIGHTEEN OF THIS CHAPTER, AND THAT PRODUCES SIXTY MILLION OR FEWER GALLONS OF BEER IN THIS STATE IN THE TAXABLE YEAR, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAXES IN THE AMOUNT SPECIFIED IN SUBDIVISION (B) OF THIS SECTION AND PURSUANT TO THE PROVISIONS REFERENCED IN SUBDIVISION (C) OF THIS SECTION. PROVIDED, HOWEVER, THAT NO CREDIT SHALL BE ALLOWED FOR ANY BEER PRODUCED IN EXCESS OF FIFTEEN MILLION FIVE HUNDRED THOUSAND GALLONS IN THE TAXABLE YEAR. IF THE TAXPAYER IS A PARTNER IN A PARTNERSHIP OR SHAREHOLDER OF A NEW YORK S CORPORATION, THEN THE CAP IMPOSED BY THE PRECEDING SENTENCE SHALL BE APPLIED AT THE ENTITY LEVEL, SO THAT THE AGGREGATE CREDIT ALLOWED TO ALL EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD12160-01-2
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