senate Bill S1668

2013-2014 Legislative Session

Expands the availability of tax credit refunds for start-up high technology companies

download bill text pdf

Sponsored By

Archive: Last Bill Status -


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to investigations and government operations
Jan 09, 2013 referred to investigations and government operations

Co-Sponsors

S1668 - Details

See Assembly Version of this Bill:
A2035
Law Section:
Tax Law
Laws Affected:
Amd ยง210, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S2408, A7636
2009-2010: S1229, A3707

S1668 - Summary

Relates to tax credits for start-up high technology companies to allow such companies in existence for 8 or less taxable years to receive refunds of unused investment tax credit carry forwards.

S1668 - Sponsor Memo

S1668 - Bill Text download pdf

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

                                  1668

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced by Sens. GRISANTI, MAZIARZ -- read twice and ordered printed,
  and  when  printed  to be committed to the Committee on Investigations
  and Government Operations

AN ACT to amend the tax law, in relation  to  start-up  high  technology
  companies

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

  Section 1.   Subparagraph 3 of paragraph  (j)  of  subdivision  12  of
section  210 of the tax law, as amended by section 1 of part CC of chap-
ter 85 of the laws of 2002, is amended to read as follows:
  (3) has been subject to tax under this  article  for  more  than  five
taxable  years (excluding short taxable years) PROVIDED, HOWEVER, IF THE
TAXPAYER IS A START-UP HIGH TECHNOLOGY COMPANY OR A SMALL HIGH TECHNOLO-
GY COMPANY PURSUANT TO THE  PROVISIONS  OF  SECTION  THIRTY-ONE  HUNDRED
TWO-E  OF  THE  PUBLIC  AUTHORITIES  LAW, THE REFERENCE TO "FIVE TAXABLE
YEARS" IN THE PRECEDING SENTENCE SHALL BE READ AS "EIGHT TAXABLE YEARS".
  S 2. This act shall take effect on the first of January next  succeed-
ing  the  date  on  which  it shall have become a law and shall apply to
taxable years beginning on or after such date.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04103-01-3

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