senate Bill S4890

2013-2014 Legislative Session

Relates to the qualified emerging technology company facilities, operations and training credit

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 (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to investigations and government operations
Jun 11, 2013 reported and committed to rules
May 21, 2013 reported and committed to finance
Apr 30, 2013 referred to investigations and government operations

Votes

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Jun 11, 2013 - Finance committee Vote

S4890
30
1
committee
30
Aye
1
Nay
5
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Finance committee vote details

May 21, 2013 - Investigations and Government Operations committee Vote

S4890
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: May 21, 2013

Co-Sponsors

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S4890 - Details

See Assembly Version of this Bill:
A7264
Law Section:
Tax Law
Laws Affected:
Amd ยงยง210 & 606, Tax L

S4890 - Summary

Relates to the qualified emerging technology company facilities, operations and training credit.

S4890 - Sponsor Memo

S4890 - Bill Text download pdf

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

                                  4890

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             April 30, 2013
                               ___________

Introduced   by  Sens.  GOLDEN,  BONACIC,  GALLIVAN,  GRIFFO,  GRISANTI,
  MAZIARZ, RANZENHOFER,  SEWARD,  VALESKY,  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 the qualified emerging tech-
  nology company facilities, operations and training credit

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

  Section  1. Paragraphs (a), (b) and (h) of subdivision 12-G of section
210 of the tax law, as amended by section 1-a of part A of chapter 63 of
the laws of 2005, are amended to read as follows:
  (a) [A taxpayer that is a qualified emerging technology company pursu-
ant to the provisions of section thirty-one hundred two-e  (and  specif-
ically for the activities referenced in paragraph (b) of subdivision one
of such section thirty-one hundred two-e) of the public authorities law,
and  that  meets  the  eligibility requirements in paragraph (b) of this
subdivision, shall be allowed a credit against the tax imposed  by  this
article.  The  amount of credit shall be equal to the sum of the amounts
specified in paragraphs (c), (d), and (e) of this subdivision subject to
the limitations in paragraph (f) of this subdivision] FOR TAXABLE  YEARS
BEGINNING  ON AND AFTER JANUARY FIRST, TWO THOUSAND THIRTEEN, A TAXPAYER
THAT  IS  A  QUALIFIED  EMERGING  TECHNOLOGY  COMPANY  PURSUANT  TO  THE
PROVISIONS  OF  SUBPARAGRAPH  ONE OF PARAGRAPH (C) OF SUBDIVISION ONE OF
SECTION THIRTY-ONE HUNDRED TWO-E OF THE PUBLIC AUTHORITIES LAW, AND THAT
MEETS THE ELIGIBILITY REQUIREMENTS IN PARAGRAPH (B) OF THIS SUBDIVISION,
SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS  ARTICLE.  THE
AMOUNT  OF  CREDIT SHALL BE EQUAL TO THE SUM OF THE AMOUNTS SPECIFIED IN
PARAGRAPHS (C), (D), AND (E) OF THIS SUBDIVISION SUBJECT TO THE  LIMITA-
TIONS IN PARAGRAPH (F) OF THIS SUBDIVISION.
  (b) An eligible taxpayer shall (i) have no more than one hundred full-
time  employees,  of which at least seventy-five percent are employed in

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10461-01-3

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