senate Bill S1005A

2013-2014 Legislative Session

Establishes a forestry stewardship and habitat conservation credit for personal income and business franchise taxes

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Archive: Last Bill Status - Passed Senate


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 10, 2014 referred to ways and means
delivered to assembly
passed senate
Jun 09, 2014 ordered to third reading cal.1198
committee discharged and committed to rules
Jun 02, 2014 reported and committed to finance
Jan 17, 2014 print number 1005a
amend and recommit to investigations and government operations
Jan 08, 2014 referred to investigations and government operations
Jan 09, 2013 referred to investigations and government operations

Votes

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Jun 9, 2014 - Rules committee Vote

S1005A
23
0
committee
23
Aye
0
Nay
1
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Rules committee vote details

Jun 2, 2014 - Investigations and Government Operations committee Vote

S1005A
9
0
committee
9
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: Jun 2, 2014

Bill Amendments

Original
A (Active)
Original
A (Active)

S1005 - Bill Details

See Assembly Version of this Bill:
A4512A
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§606 & 210, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S346A, A152A
2009-2010: S326, A563

S1005 - Bill Texts

view summary

Establishes a forestry stewardship and habitat conservation credit for personal income and business franchise taxes.

view sponsor memo
BILL NUMBER:S1005

TITLE OF BILL:
An act
to amend the tax law, in relation to establishing a forestry
stewardship and habitat conservation credit for personal income and
business franchise taxes

PURPOSE:
To establish a forestry stewardship and habitat conservation credit
for personal income and business franchise taxes.

SUMMARY OF PROVISIONS:

Section one - adds a new subsection (vv) to section 606 of the tax law
to establish the forestry stewardship and habitat conservation tax
credit of twenty-five percent of the allowable school, county and
town property taxes. This section provides for the definition of
eligible tract, agreement, approved habitat conservation plan and
forestry stewardship.

Section two - amends paragraph 4 of subsection (n) of section 606 of
the tax law, as amended by section 2 of part F of chapter 62 of the
laws of 2006.

Section three - adds a new subdivision 46 to section 210 of the tax
law to provide for the forestry stewardship and habitat conservation
tax credit.

Section four - amends paragraph (d) of subsection 22 of section 210 of
the tax law, as amended by section 4 of part F of chapter 62 of the
laws of 2006.

Section five - amends subparagraph (B) of paragraph 1 of subsection
(i) of section 606 of the tax law is amended by adding a new clause
(xxxv).

Section six - contains the effective date.

JUSTIFICATION:
Forest landowners contribute to the public interest through positive
stewardship of their lands. Growing property tax burdens and shifting
of the assessment burden onto private forest lands is creating
greater pressures for development and/or sale of the property. Many
studies have documented the increase in fragmentation of our forested
landscape and the implications this has for wildlife, water
management, biodiversity, and our forest-based economy.

This forested/open space tax credit is intended to reduce forest
fragmentation, increase the economic contributions of our forests and
support private stewardship efforts by individual owners, families
and businesses.

LEGISLATIVE HISTORY:
2011-12: S. 346-A Passed Senate; A. 152-A Held for consideration


2009-10: S. 326 Investigations and Government Operations; A. 563 Ways
& Means
2007-08: S. 5538-A Investigations and Government Operations

FISCAL IMPLICATIONS: To be determined

EFFECTIVE DATE:
This act shall take effect immediately.

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

                                  1005

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sen.  LITTLE -- 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  a  forestry
  stewardship  and  habitat  conservation credit for personal income and
  business franchise taxes

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

  Section  1.  Section  606  of  the  tax law is amended by adding a new
subsection (vv) to read as follows:
  (VV) FORESTRY STEWARDSHIP AND HABITAT CONSERVATION CREDIT. (1) IN  THE
CASE  OF  A TAXPAYER WHO OWNS LAND THAT IS SUBJECT  TO AN AGREEMENT WITH
THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION,  BY  WHICH  SUCH  LAND  IS
COMMITTED  TO  FORESTRY  STEWARDSHIP,  OR HABITAT CONSERVATION, OR BOTH,
THERE SHALL BE ALLOWED A CREDIT FOR  TWENTY-FIVE  PERCENT  OF  THE  REAL
PROPERTY  TAXES  PAID ON SUCH LAND. IN NO EVENT SHALL THE CREDIT ALLOWED
UNDER THIS SUBSECTION IN COMBINATION WITH ANY OTHER CREDIT FOR SUCH REAL
PROPERTY TAXES UNDER THIS SECTION EXCEED THE TOTAL AMOUNT OF SUCH  TAXES
PAID DURING THE TAXABLE YEAR.
  (2) FOR THE PURPOSES OF THIS SUBSECTION:
  (A)  "ELIGIBLE  TRACT"  SHALL  MEAN  A  TRACT  OF  LAND  OF  AT  LEAST
TWENTY-FIVE CONTIGUOUS ACRES THAT HAS BEEN INSPECTED BY  THE  DEPARTMENT
OF  ENVIRONMENTAL  CONSERVATION,  A  WILDLIFE BIOLOGIST CERTIFIED BY THE
WILDLIFE SOCIETY, OR A FISHERIES BIOLOGIST  CERTIFIED  BY  THE  AMERICAN
FISHERIES  SOCIETY,  AND  BASED  ON SUCH INSPECTION IS DETERMINED BY THE
DEPARTMENT OF ENVIRONMENTAL CONSERVATION TO  BE:  VALUABLE  HABITAT  FOR
WILDLIFE, FISH, SHELLFISH OR CRUSTACEA; OR SAFE AND SUITABLE FOR FISH OR
WILDLIFE-RELATED  RECREATION,  INCLUDING  FISHING, HUNTING, TRAPPING AND
WILDLIFE OBSERVATION; OR BOTH. LAND  DIVIDED  ONLY  BY  FEDERAL,  STATE,
COUNTY OR TOWN ROADS, EASEMENTS OR RIGHTS-OF-WAY, OR ENERGY TRANSMISSION

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01138-01-3

S. 1005                             2

CORRIDORS  OR  SIMILAR  FACILITIES  SHALL  BE  CONSIDERED CONTIGUOUS FOR
PURPOSES OF THIS SECTION.
  (B)  "AGREEMENT" SHALL MEAN A WRITTEN AGREEMENT BETWEEN THE DEPARTMENT
OF ENVIRONMENTAL CONSERVATION  AND  THE  OWNER  OF  AN  ELIGIBLE  TRACT,
EXECUTED  BY  BOTH PARTIES, BY WHICH THE ELIGIBLE  TRACT IS COMMITTED TO
HABITAT CONSERVATION, OR FORESTRY STEWARDSHIP, OR BOTH, FOR A PERIOD  OF
NOT LESS THAN FIVE YEARS.
  (C)  "APPROVED  HABITAT CONSERVATION PLAN" SHALL MEAN A PLAN, APPROVED
BY THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION, FOR THE  MANAGEMENT  OF
AN  ELIGIBLE  TRACT  WHICH SHALL CONTAIN REQUIREMENTS AND STANDARDS WITH
WHICH THE OWNER OF THE ELIGIBLE TRACT MUST COMPLY IN ORDER  TO  CONSERVE
THE  VALUE  OF THE LAND AS WILDLIFE, FISH, SHELLFISH, OR CRUSTACEA HABI-
TAT.
  (D) "FORESTRY  STEWARDSHIP"  SHALL  MEAN  PARTICIPATION  IN  A  FOREST
CERTIFICATION PROGRAM (SUCH AS FOREST STEWARDSHIP COUNCIL CERTIFICATION,
SUSTAINABLE  FORESTRY  INITIATIVE,  AMERICAN  TREE  FARM  PROGRAM, ETC.)
RECOGNIZED IN THE REGULATIONS OF THE DEPARTMENT OF ENVIRONMENTAL CONSER-
VATION.
  (3) THERE IS HEREBY CREATED A NEW YORK STATE FORESTRY STEWARDSHIP  AND
HABITAT CONSERVATION PROGRAM FOR THE PURPOSE OF PROVIDING FORESTED LANDS
IN  THE STATE AND CONSERVING THE VALUE OF LAND IN THE STATE AS WILDLIFE,
FISH, SHELLFISH OR CRUSTACEA HABITAT.
  (4) A LANDOWNER MAY MAKE APPLICATION TO  THE  DEPARTMENT  OF  ENVIRON-
MENTAL  CONSERVATION,  ON  FORMS  PRESCRIBED BY SUCH DEPARTMENT, TO HAVE
LAND INCLUDED IN THE NEW YORK STATE HABITAT  CONSERVATION  AND  FORESTRY
STEWARDSHIP  PROGRAM.  IF,  BASED  ON  AN  INSPECTION OF THE LAND BY THE
DEPARTMENT OF ENVIRONMENTAL CONSERVATION, OR A WILDLIFE BIOLOGIST CERTI-
FIED BY THE WILDLIFE SOCIETY, OR A FISHERIES BIOLOGIST CERTIFIED BY  THE
AMERICAN FISHERIES SOCIETY, THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION
DETERMINES  THAT  SUCH  LAND  IS  AN ELIGIBLE TRACT, IT SHALL NOTIFY THE
LANDOWNER THAT THE LAND IS ELIGIBLE FOR INCLUSION IN THE NEW YORK  STATE
HABITAT CONSERVATION AND FORESTRY STEWARDSHIP PROGRAM.
  (5)   THE   DEPARTMENT  OF  ENVIRONMENTAL  CONSERVATION  MAY,  IN  ITS
DISCRETION, ENTER INTO AGREEMENTS WITH OWNERS  OF  ELIGIBLE  TRACTS  FOR
PURPOSES OF FORESTRY STEWARDSHIP, OR HABITAT CONSERVATION, OR BOTH. SUCH
AGREEMENTS  SHALL  BE  FOR  A  MINIMUM DURATION OF FIVE YEARS, AND SHALL
CONTAIN A DESCRIPTION OF THE PROPERTY THAT IS THE SUBJECT OF THE  AGREE-
MENT, AND SUCH TERMS AND CONDITIONS AS THE DEPARTMENT DEEMS APPROPRIATE,
INCLUDING, BUT NOT LIMITED TO:
  (A)  FOR FORESTRY STEWARDSHIP AGREEMENTS, A DESCRIPTION OF THE PARTIC-
IPATION IN A FOREST CERTIFICATION PROGRAM FOR A PERIOD OF NOT LESS  THAN
FIVE YEARS;
  (B)  FOR HABITAT CONSERVATION AGREEMENTS, A REQUIREMENT THAT THE LAND-
OWNER DEVELOP A HABITAT CONSERVATION PLAN AND IMPLEMENT THE PLAN  FOR  A
PERIOD OF NOT LESS THAN FIVE YEARS;
  (C)  FOR  HABITAT  CONSERVATION AND FORESTRY STEWARDSHIP AGREEMENTS, A
REQUIREMENT THAT THE LANDOWNER DEVELOP A HABITAT CONSERVATION  PLAN  AND
IMPLEMENT  THE  PLAN  FOR  A  PERIOD  OF NOT LESS THAN FIVE YEARS; AND A
DESCRIPTION OF PARTICIPATION IN A FOREST  CERTIFICATION  PROGRAM  FOR  A
PERIOD OF NOT LESS THAN FIVE YEARS;
  (D) A REQUIREMENT THAT THE LANDOWNER'S OBLIGATIONS CONCERNING THE LAND
UNDER THE TERMS OF THE AGREEMENT, AS WELL AS ANY BENEFITS, SHALL PASS TO
ANY  SUCCESSOR  IN INTEREST TO SUCH LAND FOR THE DURATION OF THE TERM OF
THE AGREEMENT; AND
  (E) A REQUIREMENT THAT A COPY OF THE AGREEMENT SHALL BE DULY  RECORDED
AND INDEXED AS SUCH IN THE OFFICE OF THE RECORDING OFFICER FOR THE COUN-

S. 1005                             3

TY  OR  COUNTIES  WHERE  THE LAND IS SITUATE IN THE MANNER PRESCRIBED BY
ARTICLE NINE OF THE REAL PROPERTY LAW; AND THAT ANY  SUBSEQUENT  INSTRU-
MENT  OF CONVEYANCE RELATING TO THE PROPERTY ENCUMBERED BY THE AGREEMENT
SHALL  REFERENCE,  BY BOOK AND PAGE NUMBER, THE AGREEMENT; AND THAT SUCH
INSTRUMENT SHALL ALSO SPECIFY  THAT  THE  PROPERTY  IS  SUBJECT  TO  THE
RESTRICTIONS  CONTAINED IN THE AGREEMENT; AND THAT AN INSTRUMENT FOR THE
PURPOSE OF CREATING, CONVEYING, MODIFYING OR TERMINATING  THE  AGREEMENT
SHALL NOT BE EFFECTIVE UNLESS RECORDED.
  (6)  THE AMOUNT OF THE CREDIT THAT MAY BE CLAIMED BY A TAXPAYER PURSU-
ANT TO THIS SUBSECTION SHALL NOT EXCEED  TEN  THOUSAND  DOLLARS  IN  ANY
GIVEN YEAR.
  (7)  IF THE AMOUNT OF THE CREDIT UNDER THIS SUBSECTION FOR ANY TAXABLE
YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS SHALL  BE
TREATED  AS  AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN ACCORD-
ANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTI-
CLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  S 2. Paragraph 4 of subsection (n) of section 606 of the tax  law,  as
amended  by  section  2  of part F of chapter 62 of the laws of 2006, is
amended to read as follows:
  (4) Qualified agricultural property. For purposes of this  subsection,
the  term  "qualified  agricultural property" means land located in this
state which is used in agricultural production, and  land  improvements,
structures  and  buildings  (excluding buildings used for the taxpayer's
residential purpose) located on such land which are used or occupied  to
carry out such production. Qualified agricultural property also includes
land  set  aside  or  retired  under a federal supply management or soil
conservation program or land that at the time it becomes  subject  to  a
conservation easement, as defined under subsection (kk) of this section,
met  the requirements under this paragraph, AND LAND THAT AT THE TIME IT
BECOMES SUBJECT TO AN AGREEMENT AS DEFINED IN SUBSECTION  (VV)  OF  THIS
SECTION MET THE REQUIREMENTS UNDER THIS PARAGRAPH.
  S 3. Section 210 of the tax law is amended by adding a new subdivision
46 to read as follows:
  46.  FORESTRY  STEWARDSHIP AND HABITAT CONSERVATION CREDIT. (1) IN THE
CASE OF A TAXPAYER WHO OWNS LAND THAT IS SUBJECT TO  AN  AGREEMENT  WITH
THE  DEPARTMENT  OF  ENVIRONMENTAL  CONSERVATION,  BY WHICH SUCH LAND IS
COMMITTED TO FORESTRY STEWARDSHIP, OR  HABITAT  CONSERVATION,  OR  BOTH,
THERE  SHALL  BE  ALLOWED A CREDIT FOR   TWENTY-FIVE PERCENT OF THE REAL
PROPERTY TAXES PAID ON SUCH LAND. IN NO EVENT SHALL THE  CREDIT  ALLOWED
UNDER  THIS  SUBDIVISION  IN  COMBINATION WITH ANY OTHER CREDIT FOR SUCH
REAL PROPERTY TAXES UNDER THIS SECTION EXCEED THE TOTAL AMOUNT  OF  SUCH
TAXES PAID DURING THE TAXABLE YEAR.
  (2) FOR THE PURPOSES OF THIS SUBDIVISION:
  (A)  "ELIGIBLE  TRACT"  SHALL  MEAN  A  TRACT  OF  LAND  OF  AT  LEAST
TWENTY-FIVE CONTIGUOUS ACRES THAT HAS BEEN INSPECTED BY  THE  DEPARTMENT
OF  ENVIRONMENTAL  CONSERVATION,  A  WILDLIFE BIOLOGIST CERTIFIED BY THE
WILDLIFE SOCIETY, OR A FISHERIES BIOLOGIST  CERTIFIED  BY  THE  AMERICAN
FISHERIES  SOCIETY,  AND  BASED  ON SUCH INSPECTION IS DETERMINED BY THE
DEPARTMENT OF ENVIRONMENTAL CONSERVATION TO  BE:  VALUABLE  HABITAT  FOR
WILDLIFE, FISH, SHELLFISH OR CRUSTACEA; OR SAFE AND SUITABLE FOR FISH OR
WILDLIFE-RELATED  RECREATION,  INCLUDING  FISHING, HUNTING, TRAPPING AND
WILDLIFE OBSERVATION; OR BOTH. LAND  DIVIDED  ONLY  BY  FEDERAL,  STATE,
COUNTY OR TOWN ROADS, EASEMENTS OR RIGHTS-OF-WAY, OR ENERGY TRANSMISSION
CORRIDORS  OR  SIMILAR  FACILITIES  SHALL  BE  CONSIDERED CONTIGUOUS FOR
PURPOSES OF THIS SECTION.

S. 1005                             4

  (B) "AGREEMENT" SHALL MEAN A WRITTEN AGREEMENT BETWEEN THE  DEPARTMENT
OF  ENVIRONMENTAL  CONSERVATION  AND  THE  OWNER  OF  AN ELIGIBLE TRACT,
EXECUTED BY BOTH PARTIES, BY WHICH THE ELIGIBLE TRACT  IS  COMMITTED  TO
HABITAT  CONSERVATION, OR FORESTRY STEWARDSHIP, OR BOTH, FOR A PERIOD OF
NOT LESS THAN FIVE YEARS.
  (C)  "APPROVED  HABITAT CONSERVATION PLAN" SHALL MEAN A PLAN, APPROVED
BY THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION, FOR THE  MANAGEMENT  OF
AN  ELIGIBLE  TRACT  WHICH SHALL CONTAIN REQUIREMENTS AND STANDARDS WITH
WHICH THE OWNER OF THE ELIGIBLE TRACT MUST COMPLY IN ORDER  TO  CONSERVE
THE  VALUE  OF THE LAND AS WILDLIFE, FISH, SHELLFISH, OR CRUSTACEA HABI-
TAT.
  (D) "FORESTRY  STEWARDSHIP"  SHALL  MEAN  PARTICIPATION  IN  A  FOREST
CERTIFICATION PROGRAM (SUCH AS FOREST STEWARDSHIP COUNCIL CERTIFICATION,
SUSTAINABLE  FORESTRY  INITIATIVE,  AMERICAN  TREE  FARM  PROGRAM, ETC.)
RECOGNIZED IN THE REGULATIONS OF THE DEPARTMENT OF ENVIRONMENTAL CONSER-
VATION.
  (3) THERE IS HEREBY CREATED A NEW YORK STATE FORESTRY STEWARDSHIP  AND
HABITAT CONSERVATION PROGRAM FOR THE PURPOSE OF PROVIDING FORESTED LANDS
IN  THE STATE AND CONSERVING THE VALUE OF LAND IN THE STATE AS WILDLIFE,
FISH, SHELLFISH OR CRUSTACEA HABITAT.
  (4) A LANDOWNER MAY MAKE APPLICATION TO  THE  DEPARTMENT  OF  ENVIRON-
MENTAL  CONSERVATION,  ON  FORMS  PRESCRIBED BY SUCH DEPARTMENT, TO HAVE
LAND INCLUDED IN THE NEW YORK STATE HABITAT  CONSERVATION  AND  FORESTRY
STEWARDSHIP  PROGRAM.  IF,  BASED  ON  AN  INSPECTION OF THE LAND BY THE
DEPARTMENT OF ENVIRONMENTAL CONSERVATION, OR A WILDLIFE BIOLOGIST CERTI-
FIED BY THE WILDLIFE SOCIETY, OR A FISHERIES BIOLOGIST CERTIFIED BY  THE
AMERICAN FISHERIES SOCIETY, THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION
DETERMINES  THAT  SUCH  LAND  IS  AN ELIGIBLE TRACT, IT SHALL NOTIFY THE
LANDOWNER THAT THE LAND IS ELIGIBLE FOR INCLUSION IN THE NEW YORK  STATE
HABITAT CONSERVATION AND FORESTRY STEWARDSHIP PROGRAM.
  (5)   THE   DEPARTMENT  OF  ENVIRONMENTAL  CONSERVATION  MAY,  IN  ITS
DISCRETION, ENTER INTO AGREEMENTS WITH OWNERS  OF  ELIGIBLE  TRACTS  FOR
PURPOSES OF HABITAT CONSERVATION, OR FORESTRY STEWARDSHIP, OR BOTH. SUCH
AGREEMENTS  SHALL  BE  FOR  A  MINIMUM DURATION OF FIVE YEARS, AND SHALL
CONTAIN A DESCRIPTION OF THE PROPERTY THAT IS THE SUBJECT OF THE  AGREE-
MENT, AND SUCH TERMS AND CONDITIONS AS THE DEPARTMENT DEEMS APPROPRIATE,
INCLUDING, BUT NOT LIMITED TO:
  (A)  FOR FORESTRY STEWARDSHIP AGREEMENTS, A DESCRIPTION OF THE PARTIC-
IPATION IN A FOREST CERTIFICATION PROGRAM FOR A PERIOD OF NOT LESS  THAN
FIVE YEARS;
  (B)  FOR HABITAT CONSERVATION AGREEMENTS, A REQUIREMENT THAT THE LAND-
OWNER DEVELOP A HABITAT CONSERVATION PLAN AND IMPLEMENT THE PLAN  FOR  A
PERIOD OF NOT LESS THAN FIVE YEARS;
  (C)  FOR  HABITAT  CONSERVATION AND FORESTRY STEWARDSHIP AGREEMENTS, A
REQUIREMENT THAT THE LANDOWNER DEVELOP A HABITAT CONSERVATION  PLAN  AND
IMPLEMENT  THE  PLAN  FOR  A  PERIOD  OF NOT LESS THAN FIVE YEARS; AND A
DESCRIPTION OF PARTICIPATION IN A FOREST  CERTIFICATION  PROGRAM  FOR  A
PERIOD OF NOT LESS THAN FIVE YEARS;
  (D) A REQUIREMENT THAT THE LANDOWNER'S OBLIGATIONS CONCERNING THE LAND
UNDER THE TERMS OF THE AGREEMENT, AS WELL AS ANY BENEFITS, SHALL PASS TO
ANY  SUCCESSOR  IN INTEREST TO SUCH LAND FOR THE DURATION OF THE TERM OF
THE AGREEMENT; AND
  (E) A REQUIREMENT THAT A COPY OF THE AGREEMENT SHALL BE DULY  RECORDED
AND INDEXED AS SUCH IN THE OFFICE OF THE RECORDING OFFICER FOR THE COUN-
TY  OR  COUNTIES  WHERE  THE LAND IS SITUATE IN THE MANNER PRESCRIBED BY
ARTICLE NINE OF THE REAL PROPERTY LAW; AND THAT ANY  SUBSEQUENT  INSTRU-

S. 1005                             5

MENT  OF CONVEYANCE RELATING TO THE PROPERTY ENCUMBERED BY THE AGREEMENT
SHALL REFERENCE, BY BOOK AND PAGE NUMBER, THE AGREEMENT; AND  THAT  SUCH
INSTRUMENT  SHALL  ALSO  SPECIFY  THAT  THE  PROPERTY  IS SUBJECT TO THE
RESTRICTIONS  CONTAINED IN THE AGREEMENT; AND THAT AN INSTRUMENT FOR THE
PURPOSE OF CREATING, CONVEYING, MODIFYING OR TERMINATING  THE  AGREEMENT
SHALL NOT BE EFFECTIVE UNLESS RECORDED.
  (6)  THE AMOUNT OF THE CREDIT THAT MAY BE CLAIMED BY A TAXPAYER PURSU-
ANT TO THIS SUBDIVISION SHALL NOT EXCEED TEN  THOUSAND  DOLLARS  IN  ANY
GIVEN YEAR.
  (7) IF THE AMOUNT OF THE CREDIT UNDER THIS SUBDIVISION FOR ANY TAXABLE
YEAR  SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS SHALL BE
TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN  ACCORD-
ANCE  WITH  THE  PROVISIONS  OF  SECTION ONE THOUSAND EIGHTY-SIX OF THIS
CHAPTER, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  S 4. Paragraph (d) of subdivision 22 of section 210 of the tax law, as
amended by section 4 of part F of chapter 62 of the  laws  of  2006,  is
amended to read as follows:
  (d) Qualified agricultural property. For purposes of this subdivision,
the  term  "qualified  agricultural property" means land located in this
state which is used in agricultural production, and  land  improvements,
structures  and  buildings  (excluding buildings used for the taxpayer's
residential purpose) located on such land which are used or occupied  to
carry out such production. Qualified agricultural property also includes
land  set  aside  or  retired  under a federal supply management or soil
conservation program [or], land that at the time it becomes subject to a
conservation easement, as defined under subdivision thirty-eight of this
section, met the requirements under this paragraph AND LAND THAT AT  THE
TIME  IT  BECOMES  SUBJECT  TO AN AGREEMENT AS DEFINED UNDER SUBDIVISION
FORTY-SIX OF THIS SECTION, MET THE REQUIREMENTS UNDER THIS PARAGRAPH.
  S 5. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
of  the  tax  law  is  amended  by adding a new clause (xxxv) to read as
follows:

(XXXV) FOREST STEWARDSHIP AND        AMOUNT OF CREDIT UNDER
HABITAT CONSERVATION                 SUBDIVISION FORTY-SIX OF
CREDIT UNDER SUBSECTION (VV)         SECTION TWO HUNDRED TEN
  S 6.  This act shall take effect immediately.

S1005A (ACTIVE) - Bill Details

See Assembly Version of this Bill:
A4512A
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§606 & 210, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S346A, A152A
2009-2010: S326, A563

S1005A (ACTIVE) - Bill Texts

view summary

Establishes a forestry stewardship and habitat conservation credit for personal income and business franchise taxes.

view sponsor memo
BILL NUMBER:S1005A

TITLE OF BILL: An act to amend the tax law, in relation to
establishing a forestry stewardship and habitat conservation credit
for personal income and business franchise taxes

PURPOSE: To establish a forestry stewardship and habitat conservation
credit for personal income and business franchise taxes.

SUMMARY OF PROVISIONS:

Section one - adds a new subsection (u) to section 606 of the tax law
to establish the forestry stewardship and habitat conservation tax
credit of twenty-five percent of the allowable school, county and town
property taxes. This section provides for the definition of eligible
tract, agreement, approved habitat conservation plan and forestry
stewardship.

Section two - amends paragraph 4 of subsection (n) of section 606 of
the tax law, as amended by section 2 of part F of chapter 62 of the
laws of 2006.

Section three - adds a new subdivision 48 to section 210 of the tax
law to provide for the forestry stewardship and habitat conservation
tax credit.

Section four - amends paragraph (d) of subsection 22 of section 210 of
the tax law, as amended by section 4 of part F of chapter 62 of the
laws of 2006.

Section five - amends subparagraph (B) of paragraph 1 of subsection
(i) of section 606 of the tax law is amended by adding a new clause
(xxxvii)

Section six - contains the effective date.

JUSTIFICATION: Forest landowners contribute to the public interest
through positive stewardship of their lands. Growing property tax
burdens and shifting of the assessment burden onto private forest
lands is creating greater pressures for development and/or sale of the
property. Many studies have documented the increase in fragmentation
of our forested landscape and the implications this has for wildlife,
water management, biodiversity, and our forest-based economy.

This forested/open space tax credit is intended to reduce forest
fragmentation, increase the economic contributions of our forests and
support private stewardship efforts by individual owners, families and
businesses.

LEGISLATIVE HISTORY: 2013: S. 1005 Referred to Investigations and
Government Operations; A. 4512 Ways & Means 2011-12: S. 346-A Passed
Senate; A. 152-A Held for consideration 2009-10: S. 326 Investigations
and Government Operations; A. 563 Ways & Means 2007-08: S. 5538-A
Investigations and Government Operations

FISCAL IMPLICATIONS: To be determined


EFFECTIVE DATE: This act shall take effect immediately.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 1005--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sen.  LITTLE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations -- recommitted to the Committee on Investigations  and
  Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN  ACT  to  amend  the  tax law, in relation to establishing a forestry
  stewardship and habitat conservation credit for  personal  income  and
  business franchise taxes

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

  Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
subsection (u) to read as follows:
  (U)  FORESTRY  STEWARDSHIP AND HABITAT CONSERVATION CREDIT. (1) IN THE
CASE OF A TAXPAYER WHO OWNS LAND THAT IS SUBJECT  TO AN  AGREEMENT  WITH
THE  DEPARTMENT  OF  ENVIRONMENTAL  CONSERVATION,  BY WHICH SUCH LAND IS
COMMITTED TO FORESTRY STEWARDSHIP, OR  HABITAT  CONSERVATION,  OR  BOTH,
THERE  SHALL  BE  ALLOWED  A  CREDIT FOR TWENTY-FIVE PERCENT OF THE REAL
PROPERTY TAXES PAID ON SUCH LAND. IN NO EVENT SHALL THE  CREDIT  ALLOWED
UNDER THIS SUBSECTION IN COMBINATION WITH ANY OTHER CREDIT FOR SUCH REAL
PROPERTY  TAXES UNDER THIS SECTION EXCEED THE TOTAL AMOUNT OF SUCH TAXES
PAID DURING THE TAXABLE YEAR.
  (2) FOR THE PURPOSES OF THIS SUBSECTION:
  (A)  "ELIGIBLE  TRACT"  SHALL  MEAN  A  TRACT  OF  LAND  OF  AT  LEAST
TWENTY-FIVE  CONTIGUOUS  ACRES THAT HAS BEEN INSPECTED BY THE DEPARTMENT
OF ENVIRONMENTAL CONSERVATION, A WILDLIFE  BIOLOGIST  CERTIFIED  BY  THE
WILDLIFE  SOCIETY,  OR  A  FISHERIES BIOLOGIST CERTIFIED BY THE AMERICAN
FISHERIES SOCIETY, AND BASED ON SUCH INSPECTION  IS  DETERMINED  BY  THE
DEPARTMENT  OF  ENVIRONMENTAL  CONSERVATION  TO BE: VALUABLE HABITAT FOR
WILDLIFE, FISH, SHELLFISH OR CRUSTACEA; OR SAFE AND SUITABLE FOR FISH OR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01138-02-4

S. 1005--A                          2

WILDLIFE-RELATED RECREATION, INCLUDING FISHING,  HUNTING,  TRAPPING  AND
WILDLIFE  OBSERVATION;  OR  BOTH.  LAND  DIVIDED ONLY BY FEDERAL, STATE,
COUNTY OR TOWN ROADS, EASEMENTS OR RIGHTS-OF-WAY, OR ENERGY TRANSMISSION
CORRIDORS  OR  SIMILAR  FACILITIES  SHALL  BE  CONSIDERED CONTIGUOUS FOR
PURPOSES OF THIS SECTION.
  (B) "AGREEMENT" SHALL MEAN A WRITTEN AGREEMENT BETWEEN THE  DEPARTMENT
OF  ENVIRONMENTAL  CONSERVATION  AND  THE  OWNER  OF  AN ELIGIBLE TRACT,
EXECUTED BY BOTH PARTIES, BY WHICH THE ELIGIBLE  TRACT IS  COMMITTED  TO
HABITAT  CONSERVATION, OR FORESTRY STEWARDSHIP, OR BOTH, FOR A PERIOD OF
NOT LESS THAN FIVE YEARS.
  (C) "APPROVED HABITAT CONSERVATION PLAN" SHALL MEAN A  PLAN,  APPROVED
BY  THE  DEPARTMENT OF ENVIRONMENTAL CONSERVATION, FOR THE MANAGEMENT OF
AN ELIGIBLE TRACT WHICH SHALL CONTAIN REQUIREMENTS  AND  STANDARDS  WITH
WHICH  THE  OWNER OF THE ELIGIBLE TRACT MUST COMPLY IN ORDER TO CONSERVE
THE VALUE OF THE LAND AS WILDLIFE, FISH, SHELLFISH, OR  CRUSTACEA  HABI-
TAT.
  (D)  "FORESTRY  STEWARDSHIP"  SHALL  MEAN  PARTICIPATION  IN  A FOREST
CERTIFICATION PROGRAM (SUCH AS FOREST STEWARDSHIP COUNCIL CERTIFICATION,
SUSTAINABLE FORESTRY  INITIATIVE,  AMERICAN  TREE  FARM  PROGRAM,  ETC.)
RECOGNIZED IN THE REGULATIONS OF THE DEPARTMENT OF ENVIRONMENTAL CONSER-
VATION.
  (3)  THERE IS HEREBY CREATED A NEW YORK STATE FORESTRY STEWARDSHIP AND
HABITAT CONSERVATION PROGRAM FOR THE PURPOSE OF PROVIDING FORESTED LANDS
IN THE STATE AND CONSERVING THE VALUE OF LAND IN THE STATE AS  WILDLIFE,
FISH, SHELLFISH OR CRUSTACEA HABITAT.
  (4)  A  LANDOWNER  MAY  MAKE APPLICATION TO THE DEPARTMENT OF ENVIRON-
MENTAL CONSERVATION, ON FORMS PRESCRIBED BY  SUCH  DEPARTMENT,  TO  HAVE
LAND  INCLUDED  IN  THE NEW YORK STATE HABITAT CONSERVATION AND FORESTRY
STEWARDSHIP PROGRAM. IF, BASED ON AN  INSPECTION  OF  THE  LAND  BY  THE
DEPARTMENT OF ENVIRONMENTAL CONSERVATION, OR A WILDLIFE BIOLOGIST CERTI-
FIED  BY THE WILDLIFE SOCIETY, OR A FISHERIES BIOLOGIST CERTIFIED BY THE
AMERICAN FISHERIES SOCIETY, THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION
DETERMINES THAT SUCH LAND IS AN ELIGIBLE  TRACT,  IT  SHALL  NOTIFY  THE
LANDOWNER  THAT THE LAND IS ELIGIBLE FOR INCLUSION IN THE NEW YORK STATE
HABITAT CONSERVATION AND FORESTRY STEWARDSHIP PROGRAM.
  (5)  THE  DEPARTMENT  OF  ENVIRONMENTAL  CONSERVATION  MAY,   IN   ITS
DISCRETION,  ENTER  INTO  AGREEMENTS  WITH OWNERS OF ELIGIBLE TRACTS FOR
PURPOSES OF FORESTRY STEWARDSHIP, OR HABITAT CONSERVATION, OR BOTH. SUCH
AGREEMENTS SHALL BE FOR A MINIMUM DURATION  OF  FIVE  YEARS,  AND  SHALL
CONTAIN  A DESCRIPTION OF THE PROPERTY THAT IS THE SUBJECT OF THE AGREE-
MENT, AND SUCH TERMS AND CONDITIONS AS THE DEPARTMENT DEEMS APPROPRIATE,
INCLUDING, BUT NOT LIMITED TO:
  (A) FOR FORESTRY STEWARDSHIP AGREEMENTS, A DESCRIPTION OF THE  PARTIC-
IPATION  IN A FOREST CERTIFICATION PROGRAM FOR A PERIOD OF NOT LESS THAN
FIVE YEARS;
  (B) FOR HABITAT CONSERVATION AGREEMENTS, A REQUIREMENT THAT THE  LAND-
OWNER  DEVELOP  A HABITAT CONSERVATION PLAN AND IMPLEMENT THE PLAN FOR A
PERIOD OF NOT LESS THAN FIVE YEARS;
  (C) FOR HABITAT CONSERVATION AND FORESTRY  STEWARDSHIP  AGREEMENTS,  A
REQUIREMENT  THAT  THE LANDOWNER DEVELOP A HABITAT CONSERVATION PLAN AND
IMPLEMENT THE PLAN FOR A PERIOD OF NOT  LESS  THAN  FIVE  YEARS;  AND  A
DESCRIPTION  OF  PARTICIPATION  IN  A FOREST CERTIFICATION PROGRAM FOR A
PERIOD OF NOT LESS THAN FIVE YEARS;
  (D) A REQUIREMENT THAT THE LANDOWNER'S OBLIGATIONS CONCERNING THE LAND
UNDER THE TERMS OF THE AGREEMENT, AS WELL AS ANY BENEFITS, SHALL PASS TO

S. 1005--A                          3

ANY SUCCESSOR IN INTEREST TO SUCH LAND FOR THE DURATION OF THE  TERM  OF
THE AGREEMENT; AND
  (E)  A REQUIREMENT THAT A COPY OF THE AGREEMENT SHALL BE DULY RECORDED
AND INDEXED AS SUCH IN THE OFFICE OF THE RECORDING OFFICER FOR THE COUN-
TY OR COUNTIES WHERE THE LAND IS SITUATE IN  THE  MANNER  PRESCRIBED  BY
ARTICLE  NINE  OF THE REAL PROPERTY LAW; AND THAT ANY SUBSEQUENT INSTRU-
MENT OF CONVEYANCE RELATING TO THE PROPERTY ENCUMBERED BY THE  AGREEMENT
SHALL  REFERENCE,  BY BOOK AND PAGE NUMBER, THE AGREEMENT; AND THAT SUCH
INSTRUMENT SHALL ALSO SPECIFY  THAT  THE  PROPERTY  IS  SUBJECT  TO  THE
RESTRICTIONS  CONTAINED IN THE AGREEMENT; AND THAT AN INSTRUMENT FOR THE
PURPOSE OF CREATING, CONVEYING, MODIFYING OR TERMINATING  THE  AGREEMENT
SHALL NOT BE EFFECTIVE UNLESS RECORDED.
  (6)  THE AMOUNT OF THE CREDIT THAT MAY BE CLAIMED BY A TAXPAYER PURSU-
ANT TO THIS SUBSECTION SHALL NOT EXCEED  TEN  THOUSAND  DOLLARS  IN  ANY
GIVEN YEAR.
  (7)  IF THE AMOUNT OF THE CREDIT UNDER THIS SUBSECTION FOR ANY TAXABLE
YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS SHALL  BE
TREATED  AS  AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN ACCORD-
ANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTI-
CLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  S 2. Paragraph 4 of subsection (n) of section 606 of the tax  law,  as
amended  by  section  2  of part F of chapter 62 of the laws of 2006, is
amended to read as follows:
  (4) Qualified agricultural property. For purposes of this  subsection,
the  term  "qualified  agricultural property" means land located in this
state which is used in agricultural production, and  land  improvements,
structures  and  buildings  (excluding buildings used for the taxpayer's
residential purpose) located on such land which are used or occupied  to
carry out such production. Qualified agricultural property also includes
land  set  aside  or  retired  under a federal supply management or soil
conservation program or land that at the time it becomes  subject  to  a
conservation easement, as defined under subsection (kk) of this section,
met  the requirements under this paragraph, AND LAND THAT AT THE TIME IT
BECOMES SUBJECT TO AN AGREEMENT AS DEFINED IN  SUBSECTION  (U)  OF  THIS
SECTION MET THE REQUIREMENTS UNDER THIS PARAGRAPH.
  S 3. Section 210 of the tax law is amended by adding a new subdivision
48 to read as follows:
  48.  FORESTRY  STEWARDSHIP AND HABITAT CONSERVATION CREDIT. (1) IN THE
CASE OF A TAXPAYER WHO OWNS LAND THAT IS SUBJECT TO  AN  AGREEMENT  WITH
THE  DEPARTMENT  OF  ENVIRONMENTAL  CONSERVATION,  BY WHICH SUCH LAND IS
COMMITTED TO FORESTRY STEWARDSHIP, OR  HABITAT  CONSERVATION,  OR  BOTH,
THERE  SHALL  BE  ALLOWED A CREDIT FOR   TWENTY-FIVE PERCENT OF THE REAL
PROPERTY TAXES PAID ON SUCH LAND. IN NO EVENT SHALL THE  CREDIT  ALLOWED
UNDER  THIS  SUBDIVISION  IN  COMBINATION WITH ANY OTHER CREDIT FOR SUCH
REAL PROPERTY TAXES UNDER THIS SECTION EXCEED THE TOTAL AMOUNT  OF  SUCH
TAXES PAID DURING THE TAXABLE YEAR.
  (2) FOR THE PURPOSES OF THIS SUBDIVISION:
  (A)  "ELIGIBLE  TRACT"  SHALL  MEAN  A  TRACT  OF  LAND  OF  AT  LEAST
TWENTY-FIVE CONTIGUOUS ACRES THAT HAS BEEN INSPECTED BY  THE  DEPARTMENT
OF  ENVIRONMENTAL  CONSERVATION,  A  WILDLIFE BIOLOGIST CERTIFIED BY THE
WILDLIFE SOCIETY, OR A FISHERIES BIOLOGIST  CERTIFIED  BY  THE  AMERICAN
FISHERIES  SOCIETY,  AND  BASED  ON SUCH INSPECTION IS DETERMINED BY THE
DEPARTMENT OF ENVIRONMENTAL CONSERVATION TO  BE:  VALUABLE  HABITAT  FOR
WILDLIFE, FISH, SHELLFISH OR CRUSTACEA; OR SAFE AND SUITABLE FOR FISH OR
WILDLIFE-RELATED  RECREATION,  INCLUDING  FISHING, HUNTING, TRAPPING AND
WILDLIFE OBSERVATION; OR BOTH. LAND  DIVIDED  ONLY  BY  FEDERAL,  STATE,

S. 1005--A                          4

COUNTY OR TOWN ROADS, EASEMENTS OR RIGHTS-OF-WAY, OR ENERGY TRANSMISSION
CORRIDORS  OR  SIMILAR  FACILITIES  SHALL  BE  CONSIDERED CONTIGUOUS FOR
PURPOSES OF THIS SECTION.
  (B)  "AGREEMENT" SHALL MEAN A WRITTEN AGREEMENT BETWEEN THE DEPARTMENT
OF ENVIRONMENTAL CONSERVATION  AND  THE  OWNER  OF  AN  ELIGIBLE  TRACT,
EXECUTED  BY  BOTH  PARTIES, BY WHICH THE ELIGIBLE TRACT IS COMMITTED TO
HABITAT CONSERVATION, OR FORESTRY STEWARDSHIP, OR BOTH, FOR A PERIOD  OF
NOT LESS THAN FIVE YEARS.
  (C)  "APPROVED  HABITAT CONSERVATION PLAN" SHALL MEAN A PLAN, APPROVED
BY THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION, FOR THE  MANAGEMENT  OF
AN  ELIGIBLE  TRACT  WHICH SHALL CONTAIN REQUIREMENTS AND STANDARDS WITH
WHICH THE OWNER OF THE ELIGIBLE TRACT MUST COMPLY IN ORDER  TO  CONSERVE
THE  VALUE  OF THE LAND AS WILDLIFE, FISH, SHELLFISH, OR CRUSTACEA HABI-
TAT.
  (D) "FORESTRY  STEWARDSHIP"  SHALL  MEAN  PARTICIPATION  IN  A  FOREST
CERTIFICATION PROGRAM (SUCH AS FOREST STEWARDSHIP COUNCIL CERTIFICATION,
SUSTAINABLE  FORESTRY  INITIATIVE,  AMERICAN  TREE  FARM  PROGRAM, ETC.)
RECOGNIZED IN THE REGULATIONS OF THE DEPARTMENT OF ENVIRONMENTAL CONSER-
VATION.
  (3) THERE IS HEREBY CREATED A NEW YORK STATE FORESTRY STEWARDSHIP  AND
HABITAT CONSERVATION PROGRAM FOR THE PURPOSE OF PROVIDING FORESTED LANDS
IN  THE STATE AND CONSERVING THE VALUE OF LAND IN THE STATE AS WILDLIFE,
FISH, SHELLFISH OR CRUSTACEA HABITAT.
  (4) A LANDOWNER MAY MAKE APPLICATION TO  THE  DEPARTMENT  OF  ENVIRON-
MENTAL  CONSERVATION,  ON  FORMS  PRESCRIBED BY SUCH DEPARTMENT, TO HAVE
LAND INCLUDED IN THE NEW YORK STATE HABITAT  CONSERVATION  AND  FORESTRY
STEWARDSHIP  PROGRAM.  IF,  BASED  ON  AN  INSPECTION OF THE LAND BY THE
DEPARTMENT OF ENVIRONMENTAL CONSERVATION, OR A WILDLIFE BIOLOGIST CERTI-
FIED BY THE WILDLIFE SOCIETY, OR A FISHERIES BIOLOGIST CERTIFIED BY  THE
AMERICAN FISHERIES SOCIETY, THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION
DETERMINES  THAT  SUCH  LAND  IS  AN ELIGIBLE TRACT, IT SHALL NOTIFY THE
LANDOWNER THAT THE LAND IS ELIGIBLE FOR INCLUSION IN THE NEW YORK  STATE
HABITAT CONSERVATION AND FORESTRY STEWARDSHIP PROGRAM.
  (5)   THE   DEPARTMENT  OF  ENVIRONMENTAL  CONSERVATION  MAY,  IN  ITS
DISCRETION, ENTER INTO AGREEMENTS WITH OWNERS  OF  ELIGIBLE  TRACTS  FOR
PURPOSES OF HABITAT CONSERVATION, OR FORESTRY STEWARDSHIP, OR BOTH. SUCH
AGREEMENTS  SHALL  BE  FOR  A  MINIMUM DURATION OF FIVE YEARS, AND SHALL
CONTAIN A DESCRIPTION OF THE PROPERTY THAT IS THE SUBJECT OF THE  AGREE-
MENT, AND SUCH TERMS AND CONDITIONS AS THE DEPARTMENT DEEMS APPROPRIATE,
INCLUDING, BUT NOT LIMITED TO:
  (A)  FOR FORESTRY STEWARDSHIP AGREEMENTS, A DESCRIPTION OF THE PARTIC-
IPATION IN A FOREST CERTIFICATION PROGRAM FOR A PERIOD OF NOT LESS  THAN
FIVE YEARS;
  (B)  FOR HABITAT CONSERVATION AGREEMENTS, A REQUIREMENT THAT THE LAND-
OWNER DEVELOP A HABITAT CONSERVATION PLAN AND IMPLEMENT THE PLAN  FOR  A
PERIOD OF NOT LESS THAN FIVE YEARS;
  (C)  FOR  HABITAT  CONSERVATION AND FORESTRY STEWARDSHIP AGREEMENTS, A
REQUIREMENT THAT THE LANDOWNER DEVELOP A HABITAT CONSERVATION  PLAN  AND
IMPLEMENT  THE  PLAN  FOR  A  PERIOD  OF NOT LESS THAN FIVE YEARS; AND A
DESCRIPTION OF PARTICIPATION IN A FOREST  CERTIFICATION  PROGRAM  FOR  A
PERIOD OF NOT LESS THAN FIVE YEARS;
  (D) A REQUIREMENT THAT THE LANDOWNER'S OBLIGATIONS CONCERNING THE LAND
UNDER THE TERMS OF THE AGREEMENT, AS WELL AS ANY BENEFITS, SHALL PASS TO
ANY  SUCCESSOR  IN INTEREST TO SUCH LAND FOR THE DURATION OF THE TERM OF
THE AGREEMENT; AND

S. 1005--A                          5

  (E) A REQUIREMENT THAT A COPY OF THE AGREEMENT SHALL BE DULY  RECORDED
AND INDEXED AS SUCH IN THE OFFICE OF THE RECORDING OFFICER FOR THE COUN-
TY  OR  COUNTIES  WHERE  THE LAND IS SITUATE IN THE MANNER PRESCRIBED BY
ARTICLE NINE OF THE REAL PROPERTY LAW; AND THAT ANY  SUBSEQUENT  INSTRU-
MENT  OF CONVEYANCE RELATING TO THE PROPERTY ENCUMBERED BY THE AGREEMENT
SHALL REFERENCE, BY BOOK AND PAGE NUMBER, THE AGREEMENT; AND  THAT  SUCH
INSTRUMENT  SHALL  ALSO  SPECIFY  THAT  THE  PROPERTY  IS SUBJECT TO THE
RESTRICTIONS CONTAINED IN THE AGREEMENT; AND THAT AN INSTRUMENT FOR  THE
PURPOSE  OF  CREATING, CONVEYING, MODIFYING OR TERMINATING THE AGREEMENT
SHALL NOT BE EFFECTIVE UNLESS RECORDED.
  (6) THE AMOUNT OF THE CREDIT THAT MAY BE CLAIMED BY A TAXPAYER  PURSU-
ANT  TO  THIS  SUBDIVISION  SHALL NOT EXCEED TEN THOUSAND DOLLARS IN ANY
GIVEN YEAR.
  (7) IF THE AMOUNT OF THE CREDIT UNDER THIS SUBDIVISION FOR ANY TAXABLE
YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS SHALL  BE
TREATED  AS  AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN ACCORD-
ANCE WITH THE PROVISIONS OF SECTION  ONE  THOUSAND  EIGHTY-SIX  OF  THIS
CHAPTER, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  S 4. Paragraph (d) of subdivision 22 of section 210 of the tax law, as
amended  by  section  4  of part F of chapter 62 of the laws of 2006, is
amended to read as follows:
  (d) Qualified agricultural property. For purposes of this subdivision,
the term "qualified agricultural property" means land  located  in  this
state  which  is used in agricultural production, and land improvements,
structures and buildings (excluding buildings used  for  the  taxpayer's
residential  purpose) located on such land which are used or occupied to
carry out such production. Qualified agricultural property also includes
land set aside or retired under a  federal  supply  management  or  soil
conservation program [or], land that at the time it becomes subject to a
conservation easement, as defined under subdivision thirty-eight of this
section,  met the requirements under this paragraph AND LAND THAT AT THE
TIME IT BECOMES SUBJECT TO AN AGREEMENT  AS  DEFINED  UNDER  SUBDIVISION
FORTY-EIGHT OF THIS SECTION, MET THE REQUIREMENTS UNDER THIS PARAGRAPH.
  S  5. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a new clause  (xxxvii)  to  read  as
follows:

(XXXVII) FOREST STEWARDSHIP AND      AMOUNT OF CREDIT UNDER
HABITAT CONSERVATION                 SUBDIVISION FORTY-EIGHT OF
CREDIT UNDER SUBSECTION (U)          SECTION TWO HUNDRED TEN
  S 6.  This act shall take effect immediately.

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