senate Bill S2165

2013-2014 Legislative Session

Extends provisions of law relating to the credit for the rehabilitation of historic properties and historic homes

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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 (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 28, 2014 recommit, enacting clause stricken
Jan 08, 2014 referred to investigations and government operations
Jan 14, 2013 referred to investigations and government operations

Co-Sponsors

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S2165 - Details

Law Section:
Tax Law
Laws Affected:
Amd ยงยง606, 210, 1456 & 1511, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S6945

S2165 - Summary

Extends provisions of law relating to the credit for the rehabilitation of historic properties and historic homes.

S2165 - Sponsor Memo

S2165 - Bill Text download pdf

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

                                  2165

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 14, 2013
                               ___________

Introduced  by  Sens.  VALESKY,  GRISANTI, MAZIARZ, RANZENHOFER, SEWARD,
  YOUNG -- 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 extending provisions of law
  relating to the credit for the rehabilitation of  historic  properties
  and historic homes

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

  Section 1. Subparagraph (A) of  paragraph  1  of  subsection  (oo)  of
section  606  of  the  tax law, as amended by chapter 472 of the laws of
2010, is amended to read as follows:
  (A) For taxable years beginning on or after January first,  two  thou-
sand  ten  and  before  January  first, two thousand [fifteen] TWENTY, a
taxpayer shall be allowed a credit as hereinafter provided, against  the
tax  imposed  by this article, in an amount equal to one hundred percent
of the amount of credit allowed the taxpayer with respect to a certified
historic structure under subsection (a) (2) of section 47 of the federal
internal revenue code with respect to  a  certified  historic  structure
located within the state. Provided, however, the credit shall not exceed
five  million  dollars.  For taxable years beginning on or after January
first, two thousand [fifteen] TWENTY, a  taxpayer  shall  be  allowed  a
credit as hereinafter provided, against the tax imposed by this article,
in an amount equal to thirty percent of the amount of credit allowed the
taxpayer with respect to a certified historic structure under subsection
(a)(2)  of  section 47 of the federal internal revenue code with respect
to a certified historic structure located within  the  state;  provided,
however, the credit shall not exceed one hundred thousand dollars.
  S  2. Paragraph 2 of subsection (pp) of section 606 of the tax law, as
added by chapter 547 of the laws of 2006, subparagraphs (A) and  (B)  as
amended  by  chapter  472  of  the  laws  of 2010, is amended to read as
follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04822-02-3

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