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

                                  8986

                          I N  A S S E M B L Y

                              March 6, 2014
                               ___________

Introduced by M. of A. MARKEY -- read once and referred to the Committee
  on Ways and Means

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
PURPOSES  OF  THIS PARAGRAPH, THE TERM "EARNED INCOME" SHALL MEAN WAGES,
SALARIES, TIPS AND OTHER EMPLOYEE COMPENSATION, AND THOSE ITEMS OF GROSS
INCOME WHICH ARE INCLUDIBLE IN THE  COMPUTATION  OF  NET  EARNINGS  FROM
SELF-EMPLOYMENT.  FOR  THE PURPOSES OF THIS PARAGRAPH, PAYMENTS FROM THE

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

                                                           LBD04732-01-3

A. 8986                             2

STATE'S FARMLAND PROTECTION PROGRAM, ADMINISTERED BY THE  DEPARTMENT  OF
AGRICULTURE  AND MARKETS, SHALL BE INCLUDED AS FEDERAL GROSS INCOME FROM
FARMING FOR OTHERWISE ELIGIBLE FARMERS.
  (3)  QUALIFIED  DONATION.  FOR  PURPOSES  OF THIS SUBSECTION, THE TERM
"QUALIFIED DONATION" MEANS A DONATION OF ANY EDIBLE FOOD ITEM TO A  FOOD
BANK OR OTHER EMERGENCY FOOD PROGRAM OPERATING WITHIN THIS STATE.
  S  2. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a  law  and  shall  apply  to
taxable years beginning on or after such date.