Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 28, 2014 |
recommit, enacting clause stricken |
Jan 08, 2014 |
referred to investigations and government operations returned to senate died in assembly |
Jun 13, 2013 |
referred to ways and means delivered to assembly passed senate |
Jun 10, 2013 |
ordered to third reading cal.1188 committee discharged and committed to rules |
May 21, 2013 |
reported and committed to finance |
Feb 11, 2013 |
referred to investigations and government operations |
Senate Bill S3701
2013-2014 Legislative Session
Sponsored By
(D, IP) Senate District
Archive: Last Bill Status - Stricken
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
2013-S3701 (ACTIVE) - Details
2013-S3701 (ACTIVE) - Sponsor Memo
BILL NUMBER:S3701 TITLE OF BILL: An act in relation to qualifying a certain parcel of land located in the city of Syracuse, county of Onondaga for a tax cred- it for rehabilitation of historic property PURPOSE: Provides an exception to the census tract requirement for the Huntley Apartment building at 407 Stolp Avenue in Syracuse to qualify for New York State historic property rehabilitation tax credits. SUMMARY OF PROVISIONS: Section 1, provides as exception to the requirement in subsection (oo) of section 606 of the tax law that for a property to qualify for histor- ic rehabilitation tax credits it must be located in a qualifying census-tract. This section also provides the legal description of the property. Section 2, establishes the effective date. JUSTIFICATION: The purpose of the New York State tax credit for the rehabilitation of historic properties was to provide aid and incentive to restore historic buildings in distressed areas. The Huntley Apartment building in the Strathmore neighborhood of Syracuse, NY is one of those properties. The Huntley was once a vibrant apartment building that has become vacant and a center for crime in recent years. A local group of
2013-S3701 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3701 2013-2014 Regular Sessions I N S E N A T E February 11, 2013 ___________ Introduced by Sen. VALESKY -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT in relation to qualifying a certain parcel of land located in the city of Syracuse, county of Onondaga for a tax credit for rehabili- tation of historic property THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Notwithstanding any provision of subsection (oo) of section 606 of the tax law or any other provision of law to the contrary, the owners of all that tract or parcel of land situate in the city of Syra- cuse, county of Onondaga, located at 409 and 419-421 Stolp Avenue, otherwise known and distinguished as section 87, block 12, lots 113, 114 and 115 of the Stolp Addition and commonly known as the "Huntley Apart- ments", shall qualify for a tax credit for rehabilitation of historic real property. For taxable years before January 1, 2016, the owners of all that tract or parcel of land described above shall be allowed a credit as herein- after provided, against the tax imposed by article 22 of the tax law, 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 1, 2016, the owners of all that tract or parcel of land described above shall be allowed a credit as hereinafter provided, against the tax imposed by article 22 of the tax law, 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04514-01-3
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