Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 12, 2014 |
referred to ways and means delivered to assembly passed senate |
Jun 09, 2014 |
amended on third reading (t) 3732c |
Jun 02, 2014 |
advanced to third reading |
May 29, 2014 |
2nd report cal. |
May 28, 2014 |
1st report cal.943 |
May 14, 2014 |
reported and committed to finance |
May 13, 2014 |
print number 3732b |
May 13, 2014 |
amend and recommit to local government |
Apr 30, 2014 |
print number 3732a |
Apr 30, 2014 |
amend and recommit to local government |
Jan 08, 2014 |
referred to local government returned to senate died in assembly |
Jun 13, 2013 |
referred to ways and means delivered to assembly passed senate |
Jun 12, 2013 |
ordered to third reading cal.1329 committee discharged and committed to rules |
May 22, 2013 |
reported and committed to finance |
Feb 13, 2013 |
referred to local government |
Senate Bill S3732C
2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
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
Actions
Votes
Bill Amendments
co-Sponsors
(D) 22nd Senate District
(R, C) 60th Senate District
(R) Senate District
(D, WF) Senate District
2013-S3732 - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Economic Development Law
- Laws Affected:
- Add §441, Ec Dev L; amd §§210, 606, 1456 & 1511, Tax L
- Versions Introduced in 2011-2012 Legislative Session:
-
S6837
2013-S3732 - Sponsor Memo
BILL NUMBER:S3732 TITLE OF BILL: An act to amend the general municipal law and the tax law, in relation to establishing an angel tax credit for investments made in small businesses PURPOSE: To establish an angel tax credit for investors who invest in certified startup business enterprises. SUMMARY OF PROVISIONS: This bill creates a new angel tax credit that provides incentives for investment in targeted industries and technolo- gies which is available in other states. The bill authorizes the Commis- sioner of Economic Development to certify Startup Business Enterprises (SBE) and allocates $7 million in total Angel Tax Credits each year. The minimum investment is $100,000 and is capped at $1 million in qualifying contributions to capital ; and no single certified SBE will be eligible for more than $1 million in qualifying contributions. The investor is provided with a refundable credit equal to 35 percent of such investor's qualifying investment (i.e. a $1 million capital investment would result in a $350,000 credit) The credit is available to Article 9-A, Article 22, Article 32, and Article 33 taxpayers. JUSTIFICATION: New York State small businesses are at a disadvantage to those located in other states which offer tax credits like the Angel Tax Credit due to the lack of both public and private investment dollars. Other states have economic development programs, as well as angel tax
2013-S3732 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3732 2013-2014 Regular Sessions I N S E N A T E February 13, 2013 ___________ Introduced by Sens. DeFRANCISCO, GALLIVAN, MAZIARZ, SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the general municipal law and the tax law, in relation to establishing an angel tax credit for investments made in small businesses THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The general municipal law is amended by adding a new section 959-c to read as follows: S 959-C. CERTIFIED STARTUP BUSINESS ENTERPRISE. (A) CERTIFICATION. (I) THE COMMISSIONER SHALL APPROVE APPLICATIONS FOR QUALIFICATION OF A BUSI- NESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE. AS A CONDI- TION FOR APPROVAL OF SUCH APPLICATION, THE COMMISSIONER IS AUTHORIZED TO SPECIFY CERTAIN REQUIREMENTS TO BE SATISFIED AS A CONDITION FOR APPROVAL OF A BUSINESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE AS THE COMMISSIONER DEEMS NECESSARY TO ENSURE THE QUALIFYING ANGEL INVEST- MENT WILL MAKE A SUBSTANTIAL CONTRIBUTION TO THE ECONOMIC DEVELOPMENT OF THIS STATE, INCLUDING THE USE OF A SYSTEM OF EVALUATION OF VARIOUS APPLICANT BUSINESS ENTERPRISES IN A COMPETITIVE FASHION. (II) WITH RESPECT TO AN APPROVED APPLICATION FOR QUALIFICATION OF A BUSINESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE, THE COMMISSIONER SHALL ISSUE TO SUCH BUSINESS ENTERPRISE A CERTIFICATE OF QUALIFICATION AS A CERTIFIED STARTUP BUSINESS ENTERPRISE SETTING FORTH THE EFFECTIVE DATE OF THE CERTIFICATION AND THE AMOUNT OF QUALIFYING ANGEL INVESTMENT AWARDED TO SUCH BUSINESS ENTERPRISE, WHICH AMOUNT SHALL BE NO LESS THAN ONE HUNDRED THOUSAND DOLLARS AND NO MORE THAN ONE MILLION DOLLARS. (III) FOR THE PERIOD JULY FIRST, TWO THOUSAND THIRTEEN THROUGH JUNE THIRTIETH, TWO THOUSAND FOURTEEN, THE COMMISSIONER MAY CERTIFY UP TO SEVEN MILLION DOLLARS IN QUALIFYING ANGEL INVESTMENT. FOR THE PERIOD EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07810-01-3
co-Sponsors
(D) 22nd Senate District
(R, C) 60th Senate District
(R) Senate District
(D, WF) Senate District
2013-S3732A - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Economic Development Law
- Laws Affected:
- Add §441, Ec Dev L; amd §§210, 606, 1456 & 1511, Tax L
- Versions Introduced in 2011-2012 Legislative Session:
-
S6837
2013-S3732A - Sponsor Memo
BILL NUMBER:S3732A TITLE OF BILL: An act to amend the general municipal law and the tax law, in relation to establishing an angel tax credit for investments made in small businesses PURPOSE OR GENERAL IDEA OF BILL: To establish an angel tax credit for investors who invest in certified startup business enterprises. SUMMARY OF SPECIFIC PROVISIONS: This bill creates a new angel tax credit that provides incentives for investment in targeted industries and technologies which is available in other states. The bill authorizes the Commissioner of Economic Development to certify Startup Business Enterprises(SBE) and allocates $7 million in total Angel Tax Credits each year. The minimum investment is $100,000 and is capped at $1 million in qualifying contributions to capital; and no single certified SBE will be eligible for more than $1 million in qualifying contributions. The investor is provided with a refundable credit equal to 35 percent of such investor's qualifying investment (i.e. a $1 million capital investment would result in a $350,000 credit) The credit is available to Article 9-A, Article 22, Article 32, and Article 33 taxpayers.
2013-S3732A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3732--A 2013-2014 Regular Sessions I N S E N A T E February 13, 2013 ___________ Introduced by Sens. DeFRANCISCO, FELDER, GALLIVAN, MAZIARZ, O'BRIEN, SEWARD, VALESKY -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -- recommitted to the Committee on Local Government in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the general municipal law and the tax law, in relation to establishing an angel tax credit for investments made in small businesses THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The general municipal law is amended by adding a new section 959-c to read as follows: S 959-C. CERTIFIED STARTUP BUSINESS ENTERPRISE. (A) CERTIFICATION. (I) THE COMMISSIONER SHALL APPROVE APPLICATIONS FOR QUALIFICATION OF A BUSI- NESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE. AS A CONDI- TION FOR APPROVAL OF SUCH APPLICATION, THE COMMISSIONER IS AUTHORIZED TO SPECIFY CERTAIN REQUIREMENTS TO BE SATISFIED AS A CONDITION FOR APPROVAL OF A BUSINESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE AS THE COMMISSIONER DEEMS NECESSARY TO ENSURE THE QUALIFYING ANGEL INVEST- MENT WILL MAKE A SUBSTANTIAL CONTRIBUTION TO THE ECONOMIC DEVELOPMENT OF THIS STATE, INCLUDING THE USE OF A SYSTEM OF EVALUATION OF VARIOUS APPLICANT BUSINESS ENTERPRISES IN A COMPETITIVE FASHION. (II) WITH RESPECT TO AN APPROVED APPLICATION FOR QUALIFICATION OF A BUSINESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE, THE COMMISSIONER SHALL ISSUE TO SUCH BUSINESS ENTERPRISE A CERTIFICATE OF QUALIFICATION AS A CERTIFIED STARTUP BUSINESS ENTERPRISE SETTING FORTH THE EFFECTIVE DATE OF THE CERTIFICATION AND THE AMOUNT OF QUALIFYING ANGEL INVESTMENT AWARDED TO SUCH BUSINESS ENTERPRISE, WHICH AMOUNT SHALL BE NO LESS THAN ONE HUNDRED THOUSAND DOLLARS AND NO MORE THAN ONE MILLION DOLLARS. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07810-07-4
co-Sponsors
(D) 22nd Senate District
(R, C) 60th Senate District
(R) Senate District
(D, WF) Senate District
2013-S3732B - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Economic Development Law
- Laws Affected:
- Add §441, Ec Dev L; amd §§210, 606, 1456 & 1511, Tax L
- Versions Introduced in 2011-2012 Legislative Session:
-
S6837
2013-S3732B - Sponsor Memo
BILL NUMBER:S3732B TITLE OF BILL: An act to amend the general municipal law and the tax law, in relation to establishing an angel tax credit for investments made in small businesses PURPOSE OR GENERAL IDEA OF BILL: To establish an angel tax credit for investors who invest in certified startup business enterprises. SUMMARY OF SPECIFIC PROVISIONS: This bill creates a new angel tax credit that provides incentives for investment in targeted industries and technologies which is available in other states. The bill authorizes the Commissioner of Economic Development to certify Startup Business Enterprises (SBE) and allocates $7 million in total Angel Tax Credits each year. The minimum investment is $100,000 and is capped at $1 million in qualifying contributions to capital; and no single certified SBE will be eligible for more than $1 million in qualifying contributions. The investor is provided with a refundable credit equal to 35 percent of such investor's qualifying investment (i.e. a $1 million capital investment would result in a $350,000 credit) The credit is available to Article 9-A, Article 22, Article 32, and Article 33 taxpayers. JUSTIFICATION: New York State small businesses are at a disadvantage to those located in other states which offer tax credits like the Angel Tax Credit due to the lack of both public and private investment
2013-S3732B - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3732--B 2013-2014 Regular Sessions I N S E N A T E February 13, 2013 ___________ Introduced by Sens. DeFRANCISCO, FELDER, GALLIVAN, MAZIARZ, O'BRIEN, SEWARD, VALESKY -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -- recommitted to the Committee on Local Government in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the general municipal law and the tax law, in relation to establishing an angel tax credit for investments made in small businesses THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The general municipal law is amended by adding a new section 959-c to read as follows: S 959-C. CERTIFIED STARTUP BUSINESS ENTERPRISE. (A) CERTIFICATION. (I) THE COMMISSIONER SHALL APPROVE APPLICATIONS FOR QUALIFICATION OF A BUSI- NESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE. AS A CONDI- TION FOR APPROVAL OF SUCH APPLICATION, THE COMMISSIONER IS AUTHORIZED TO SPECIFY CERTAIN REQUIREMENTS TO BE SATISFIED AS A CONDITION FOR APPROVAL OF A BUSINESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE AS THE COMMISSIONER DEEMS NECESSARY TO ENSURE THE QUALIFYING ANGEL INVEST- MENT WILL MAKE A SUBSTANTIAL CONTRIBUTION TO THE ECONOMIC DEVELOPMENT OF THIS STATE, INCLUDING THE USE OF A SYSTEM OF EVALUATION OF VARIOUS APPLICANT BUSINESS ENTERPRISES IN A COMPETITIVE FASHION. (II) WITH RESPECT TO AN APPROVED APPLICATION FOR QUALIFICATION OF A BUSINESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE, THE COMMISSIONER SHALL ISSUE TO SUCH BUSINESS ENTERPRISE A CERTIFICATE OF QUALIFICATION AS A CERTIFIED STARTUP BUSINESS ENTERPRISE SETTING FORTH THE EFFECTIVE DATE OF THE CERTIFICATION AND THE AMOUNT OF QUALIFYING ANGEL INVESTMENT AWARDED TO SUCH BUSINESS ENTERPRISE, WHICH AMOUNT SHALL EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07810-09-4
co-Sponsors
(D) 22nd Senate District
(R, C) 60th Senate District
(R) Senate District
(D, WF) Senate District
2013-S3732C (ACTIVE) - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Economic Development Law
- Laws Affected:
- Add §441, Ec Dev L; amd §§210, 606, 1456 & 1511, Tax L
- Versions Introduced in 2011-2012 Legislative Session:
-
S6837
2013-S3732C (ACTIVE) - Sponsor Memo
BILL NUMBER:S3732C TITLE OF BILL: An act to amend the economic development law and the tax law, in relation to establishing an angel tax credit for investments made in small businesses PURPOSE OR GENERAL IDEA OF BILL: To establish an angel tax credit for investors who invest in certified startup business enterprises. SUMMARY OF SPECIFIC PROVISIONS: This bill creates a new angel tax credit that provides incentives for investment in targeted industries and technologies which is available in other states. The bill authorizes the Commissioner of Economic Develop- ment to certify Startup Business Enterprises(SBE) and allocates $7 million in total Angel Tax Credits each year. The minimum investment is $100,000 and is capped at $1 million in qualifying contributions to capital; and no single certified SBE will be eligible for more than $1 million in qualifying contributions. The investor is provided with a refundable credit equal to 35 percent of such investor's qualifying investment (i.e. a $1 million capital investment would result in a $350,000 credit) The credit is available to Article 9-A, Article 22, Article 32, and Article 33 taxpayers.
2013-S3732C (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3732--C Cal. No. 943 2013-2014 Regular Sessions I N S E N A T E February 13, 2013 ___________ Introduced by Sens. DeFRANCISCO, FELDER, GALLIVAN, MAZIARZ, O'BRIEN, SEWARD, VALESKY -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -- recommitted to the Committee on Local Government in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- reported favorably from said committee and committed to the Committee on Finance -- reported favorably from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading AN ACT to amend the economic development law and the tax law, in relation to establishing an angel tax credit for investments made in small businesses THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The economic development law is amended by adding a new section 441 to read as follows: S 441. CERTIFIED STARTUP BUSINESS ENTERPRISE. 1. CERTIFICATION. (A) THE COMMISSIONER SHALL APPROVE APPLICATIONS FOR QUALIFICATION OF A BUSI- NESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE. AS A CONDI- TION FOR APPROVAL OF SUCH APPLICATION, THE COMMISSIONER IS AUTHORIZED TO SPECIFY CERTAIN REQUIREMENTS TO BE SATISFIED AS A CONDITION FOR APPROVAL OF A BUSINESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE AS THE COMMISSIONER DEEMS NECESSARY TO ENSURE THE QUALIFYING ANGEL INVEST- MENT WILL MAKE A SUBSTANTIAL CONTRIBUTION TO THE ECONOMIC DEVELOPMENT OF THIS STATE, INCLUDING THE USE OF A SYSTEM OF EVALUATION OF VARIOUS APPLICANT BUSINESS ENTERPRISES IN A COMPETITIVE FASHION. (B) WITH RESPECT TO AN APPROVED APPLICATION FOR QUALIFICATION OF A BUSINESS ENTERPRISE AS A CERTIFIED STARTUP BUSINESS ENTERPRISE, THE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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