Assembly Bill A4898A

2013-2014 Legislative Session

Makes technical corrections to the conservation easement tax credit

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Archive: Last Bill Status - In Assembly Committee


  • 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

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Bill Amendments

multi-Sponsors

2013-A4898 - Details

See Senate Version of this Bill:
S3631
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§606 & 210, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: S866
2011-2012: A9653, S4088
2015-2016: S1921
2017-2018: S1695

2013-A4898 - Summary

Makes technical corrections to the conservation easement tax credit.

2013-A4898 - Bill Text download pdf

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

                                  4898

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            February 13, 2013
                               ___________

Introduced by M. of A. THIELE -- Multi-Sponsored by -- M. of A. CLARK --
  read once and referred to the Committee on Ways and Means

AN ACT to amend the tax law, in relation to making technical corrections
  to the conservation easement tax credit

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

  Section 1. Paragraph 1 of subsection (kk) of section 606  of  the  tax
law,  as added by section 1 of part F of chapter 62 of the laws of 2006,
is amended to read as follows:
  (1) Credit allowed. In the case of a taxpayer who owns  land  that  is
subject to a conservation easement held by a public or private conserva-
tion  agency, there shall be allowed a credit for twenty-five percent of
the [allowable school district, county and  town]  real  property  taxes
PAID  on  [such]  THE  land,  OR  PORTION  OF  THE  LAND, SUBJECT TO THE
EASEMENT. In no event shall the credit allowed under this subsection  in
combination  with any other credit for [such school district, county and
town] real property taxes under this section exceed such taxes.
  S 2. Subdivision 38 of section 210 of the tax law, as added by section
3 of part F of chapter 62 of the laws of 2006, is renumbered subdivision
46 and is amended to read as follows:
  46. Conservation easement tax credit. (1) Credit allowed. In the  case
of  a  taxpayer who owns land that is subject to a conservation easement
held by a public or private conservation agency, there shall be  allowed
a  credit  for  twenty-five  percent  of the [allowable school district,
county and town] real property taxes PAID on [such] THE land, OR PORTION
OF THE LAND, SUBJECT TO THE EASEMENT. In no such case shall  the  credit
allowed  under this subdivision in combination with any other credit for
[such school district, county and town] real property taxes  under  this
section exceed such taxes.
  (2)  Conservation easement. For purposes of this subdivision, the term
"conservation easement" means a  perpetual  and  permanent  conservation

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07849-01-3
              

multi-Sponsors

2013-A4898A (ACTIVE) - Details

See Senate Version of this Bill:
S3631
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§606 & 210, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: S866
2011-2012: A9653, S4088
2015-2016: S1921
2017-2018: S1695

2013-A4898A (ACTIVE) - Summary

Makes technical corrections to the conservation easement tax credit.

2013-A4898A (ACTIVE) - Bill Text download pdf

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

                                 4898--A

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            February 13, 2013
                               ___________

Introduced by M. of A. THIELE -- Multi-Sponsored by -- M. of A. CLARK --
  read once and referred to the Committee on Ways and Means -- recommit-
  ted  to  the  Committee  on Ways and Means in accordance with Assembly
  Rule  3,  sec.  2  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the tax law, in relation to making technical corrections
  to the conservation easement tax credit

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

  Section 1. Paragraph 1 of subsection (kk) of section 606  of  the  tax
law,  as added by section 1 of part F of chapter 62 of the laws of 2006,
is amended to read as follows:
  (1) Credit allowed. In the case of a taxpayer who owns  land  that  is
subject to a conservation easement held by a public or private conserva-
tion  agency, there shall be allowed a credit for twenty-five percent of
the [allowable school district, county and  town]  real  property  taxes
PAID  on  [such]  THE  land,  OR  PORTION  OF  THE  LAND, SUBJECT TO THE
EASEMENT. In no event shall the credit allowed under this subsection  in
combination  with any other credit for [such school district, county and
town] real property taxes under this section exceed such taxes.
  S 2. Subdivision 38 of section 210 of the tax law, as added by section
3 of part F of chapter 62 of the laws of 2006, is renumbered subdivision
48 and is amended to read as follows:
  48. Conservation easement tax credit. (1) Credit allowed. In the  case
of  a  taxpayer who owns land that is subject to a conservation easement
held by a public or private conservation agency, there shall be  allowed
a  credit  for  twenty-five  percent  of the [allowable school district,
county and town] real property taxes PAID on [such] THE land, OR PORTION
OF THE LAND, SUBJECT TO THE EASEMENT. In no such case shall  the  credit
allowed  under this subdivision in combination with any other credit for

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07849-03-4

              

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