senate Bill S2768

2013-2014 Legislative Session

Establishes a tax credit for farmers who make food donations to food banks or other public, charitable or not-for-profit emergency food programs

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Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee


  • 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 23, 2013 referred to investigations and government operations

Co-Sponsors

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S2768 (ACTIVE) - Details

See other versions of this Bill:
A8986
, A9164
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S6752, A7278
2015-2016: S3603, A1812

S2768 (ACTIVE) - Summary

Establishes a tax credit for farmers who make food donations to food banks or other public, charitable or not-for-profit emergency food programs.

S2768 (ACTIVE) - Sponsor Memo

S2768 (ACTIVE) - Bill Text download pdf

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

                                  2768

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 23, 2013
                               ___________

Introduced  by Sens. RANZENHOFER, MAZIARZ, O'MARA, SEWARD, YOUNG, ZELDIN
  -- 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 establishing  a  credit  for
  farmers who donate to a food bank or other emergency food program

  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 (n-1) to read as follows:
  (N-1) CREDIT FOR DONATIONS TO FOOD BANK OR EMERGENCY FOOD PROGRAM. (1)
GENERAL.  IN  THE  CASE  OF  A TAXPAYER WHO IS AN ELIGIBLE FARMER, THERE
SHALL BE ALLOWED A  CREDIT,  TO  BE  COMPUTED  AS  HEREINAFTER  PROVIDED
AGAINST  THE TAX IMPOSED BY THIS ARTICLE FOR THE TAXABLE YEAR REDUCED BY
THE CREDITS PERMITTED BY THIS ARTICLE. THE AMOUNT OF THE CREDIT SHALL BE
TWENTY-FIVE PERCENT OF THE TAXPAYER'S QUALIFIED DONATIONS, AS DEFINED IN
PARAGRAPH THREE OF THIS SUBSECTION, MADE  TO  ANY  FOOD  BANK  OR  OTHER
PUBLIC,  CHARITABLE  OR  NOT-FOR-PROFIT EMERGENCY FOOD PROGRAM OPERATING
WITHIN THIS STATE UP TO A ONE THOUSAND DOLLAR LIMIT DURING  THE  TAXABLE
YEAR.  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.
  (2) ELIGIBLE FARMER. FOR PURPOSES OF THIS SUBSECTION, THE TERM "ELIGI-
BLE FARMER" MEANS A TAXPAYER WHOSE FEDERAL GROSS INCOME FROM FARMING FOR
THE  TAXABLE YEAR IS AT LEAST TWO-THIRDS OF EXCESS FEDERAL GROSS INCOME.
EXCESS FEDERAL GROSS INCOME MEANS THE AMOUNT  OF  FEDERAL  GROSS  INCOME
FROM  ALL SOURCES FOR THE TAXABLE YEAR REDUCED BY THE SUM (NOT TO EXCEED
THIRTY THOUSAND DOLLARS) OF THOSE ITEMS INCLUDED IN FEDERAL GROSS INCOME
WHICH CONSIST OF (I) EARNED INCOME,  (II)  PENSION  PAYMENTS,  INCLUDING
SOCIAL  SECURITY  PAYMENTS,  (III)  INTEREST,  AND  (IV)  DIVIDENDS. FOR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04732-01-3

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