| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| May 21, 2014 |
print number 7459a |
| May 21, 2014 |
amend and recommit to investigations and government operations |
| May 15, 2014 |
referred to investigations and government operations |
Senate Bill S7459A
2013-2014 Legislative Session
Sponsored By
(R) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
Actions
Bill Amendments
2013-S7459 - Details
2013-S7459 - Sponsor Memo
BILL NUMBER:S7459
TITLE OF BILL: An act to amend the tax law, in relation to establishing
business franchise and personal income tax credits for businesses that
donate food inventory to charitable organizations
PURPOSE: This bill would create a state income tax credit for business
franchises that donate excess food to charitable organizations.
SUMMARY OF PROVISIONS: This bill amends the tax law to define and
describe the charitable contributions of food inventory credit. The
credit shall equal 10% of the business's net income for federal income
tax purposes for the taxable year. For purposes of this section the
terms "charitable contribution" and "apparently wholesome food" shall
have the same meaning as defined in Title 26 of the United States Code,
section 170.
JUSTIFICATION: Food waste accounts for the largest type of waste in the
United States. The Environmental Protection Agency recognizes that
prepared food donation is an effective use of excess food, reducing
green house gas emissions from land fills and waste combustion. Many New
York businesses are already donating left over food to relief agencies
across the state. This bill would reward those businesses and encourage
others to contribute surplus food to the New Yorkers who need it the
most. The goal of this bill is to allow the taxpayer to claim a refunda-
ble tax credit for charitable wholesome food contributions from their
2013-S7459 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
7459
I N S E N A T E
May 15, 2014
___________
Introduced by Sen. MAZIARZ -- 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 establishing business fran-
chise and personal income tax credits for businesses that donate food
inventory to charitable organizations
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 210 of the tax law is amended by adding a new
subdivision 50 to read as follows:
50. CHARITABLE CONTRIBUTIONS OF FOOD INVENTORY CREDIT. (A) GENERAL. A
TAXPAYER WHO CLAIMS A DEDUCTION UNDER TITLE 26 OF THE UNITED STATES
CODE, SECTION 170, SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY
THIS ARTICLE, FOR CHARITABLE CONTRIBUTIONS OF APPARENTLY WHOLESOME FOOD
FROM SUCH TAXPAYER'S TRADE OR BUSINESSES.
(B) DEFINITIONS. FOR PURPOSES OF THIS SECTION, THE TERMS "CHARITABLE
CONTRIBUTION" AND "APPARENTLY WHOLESOME FOOD" SHALL HAVE THE SAME MEAN-
ING AS SUCH TERMS ARE DEFINED IN TITLE 26 OF THE UNITED STATES CODE,
SECTION 170.
(C) AMOUNT OF CREDIT. THE CREDIT AUTHORIZED BY THIS SECTION SHALL
EQUAL TEN PERCENT OF THE AMOUNT OF SUCH CONTRIBUTION OF APPARENTLY
WHOLESOME FOOD DEDUCTED BY SUCH TAXPAYER IN COMPUTING FEDERAL TAXABLE
INCOME FOR THE TAXABLE YEAR.
(D) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
FOR ANY TAXABLE YEAR WILL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS
THAN THE MINIMUM TAX FIXED BY THIS ARTICLE. HOWEVER, IF THE AMOUNT OF
CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE
TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT THUS NOT DEDUCTIBLE IN SUCH
TAXABLE YEAR WILL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR
REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION ONE THOUSAND
EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER, THE PROVISIONS OF
SUBSECTION (C) OF SECTION ONE THOUSAND EIGHTY-EIGHT OF THIS CHAPTER
NOTWITHSTANDING, NO INTEREST WILL BE PAID THEREON.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14045-02-4
2013-S7459A (ACTIVE) - Details
2013-S7459A (ACTIVE) - Sponsor Memo
BILL NUMBER:S7459A
TITLE OF BILL: An act to amend the tax law, in relation to
establishing business franchise and personal income tax credits for
businesses that donate food inventory to charitable organizations
PURPOSE: This bill would create a state income tax credit for business
franchises that donate excess food to charitable organizations.
SUMMARY OF PROVISIONS: This bill amends the tax law to define and
describe the charitable contributions of food inventory credit. The
credit shall equal 10% of the business's net income for federal income
tax purposes for the taxable year. For purposes of this section the
terms "charitable contribution" and "apparently wholesome food" shall
have the same meaning as defined in Title 26 of the United States
Code, section 170.
JUSTIFICATION: Food waste accounts for the largest type of waste in
the United States. The Environmental Protection Agency recognizes that
prepared food donation is an effective use of excess food, reducing
green house gas emissions from land fills and waste combustion. Many
New York businesses are already donating left over food to relief
agencies across the state. This bill would reward those businesses and
encourage others to contribute surplus food to the New Yorkers who
need it the most. The goal of this bill is to allow the taxpayer to
claim a refundable tax credit for charitable wholesome food
2013-S7459A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
7459--A
I N S E N A T E
May 15, 2014
___________
Introduced by Sen. MAZIARZ -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
ment Operations -- committee discharged, bill amended, ordered
reprinted as amended and recommitted to said committee
AN ACT to amend the tax law, in relation to establishing business fran-
chise and personal income tax credits for businesses that donate food
inventory to charitable organizations
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 210 of the tax law is amended by adding a new
subdivision 50 to read as follows:
50. CHARITABLE CONTRIBUTIONS OF FOOD INVENTORY CREDIT. (A) GENERAL. A
TAXPAYER WHO CLAIMS A DEDUCTION UNDER TITLE 26 OF THE UNITED STATES
CODE, SECTION 170, SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY
THIS ARTICLE, FOR CHARITABLE CONTRIBUTIONS OF APPARENTLY WHOLESOME FOOD
FROM SUCH TAXPAYER'S TRADE OR BUSINESSES.
(B) DEFINITIONS. FOR PURPOSES OF THIS SECTION, THE TERMS "CHARITABLE
CONTRIBUTION" AND "APPARENTLY WHOLESOME FOOD" SHALL HAVE THE SAME MEAN-
ING AS SUCH TERMS ARE DEFINED IN TITLE 26 OF THE UNITED STATES CODE,
SECTION 170.
(C) AMOUNT OF CREDIT. THE CREDIT AUTHORIZED BY THIS SECTION SHALL
EQUAL TEN PERCENT OF THE AMOUNT OF SUCH CONTRIBUTION OF APPARENTLY
WHOLESOME FOOD DEDUCTED BY SUCH TAXPAYER IN COMPUTING FEDERAL TAXABLE
INCOME FOR THE TAXABLE YEAR.
(D) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
FOR ANY TAXABLE YEAR WILL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS
THAN THE MINIMUM TAX FIXED BY THIS ARTICLE. HOWEVER, IF THE AMOUNT OF
CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE
TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT THUS NOT DEDUCTIBLE IN SUCH
TAXABLE YEAR WILL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR
REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION ONE THOUSAND
EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER, THE PROVISIONS OF
SUBSECTION (C) OF SECTION ONE THOUSAND EIGHTY-EIGHT OF THIS CHAPTER
NOTWITHSTANDING, NO INTEREST WILL BE PAID THEREON.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.