assembly Bill A3243

2015-2016 Legislative Session

NY local food and products sourcing tax credit

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 14, 2016 held for consideration in ways and means
Jan 06, 2016 referred to ways and means
Jan 22, 2015 referred to ways and means

Co-Sponsors

A3243 (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Amd ยง210-B, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A11270
2011-2012: A1301
2013-2014: A337
2017-2018: A1682
2019-2020: A1651

A3243 (ACTIVE) - Summary

Relates to creating a local food and products sourcing tax credit.

A3243 (ACTIVE) - Bill Text download pdf

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

                                  3243

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 22, 2015
                               ___________

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

AN ACT to amend the tax law, in relation to creating a  local  food  and
  products sourcing tax credit

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

  Section 1. Section 210-b of the tax law is amended  by  adding  a  new
subdivision 49 to read as follows:
  49. LOCAL FOOD AND PRODUCTS SOURCING TAX CREDIT. 1. BUSINESSES SUBJECT
TO  TAX LIABILITY UNDER ARTICLE NINE OR NINE-A OF THIS CHAPTER MAY CLAIM
THE LOCAL FOODS AND  PRODUCTS  SOURCING  TAX  CREDIT  AGAINST  ANY  SUCH
LIABILITY  AT  THE  CLOSE  OF  THE  TAX YEAR PROVIDED, HOWEVER, THAT THE
UNUSED PORTION OF ANY TAX CREDIT CLAIMED SHALL NOT  BE  CARRIED  FORWARD
AND APPLIED IN ANOTHER TAX YEAR.
  2. FOR THE PURPOSES OF THIS SECTION THE FOLLOWING TERMS SHALL HAVE THE
FOLLOWING MEANINGS:
  (A)  "LOCAL  PRODUCTS",  ARE  ANY PRODUCTS GROWN, RAISED, PRODUCED, OR
MANUFACTURED BY A PRODUCER WITHIN THE STATE OF NEW YORK,  FROM  SEED  OR
CONCEPTION THROUGH FINAL PRODUCT;
  (B)  "PRODUCER",  IS  AN  INDIVIDUAL  (WHETHER  ACTING INDIVIDUALLY OR
THROUGH A COOPERATIVE, CORPORATION, PARTNERSHIP,  BUSINESS  ASSOCIATION,
OR EDUCATIONAL INSTITUTION) WHO IS A FARMER, STUDENT FARMER, OR MANUFAC-
TURER  OF FOODS OR GOODS IN NEW YORK STATE, IT SHALL NOT HOWEVER INCLUDE
A WHOLESALER OR DISTRIBUTOR;
  (C) "NET SALES", ARE THE TOTAL SALES OF THE BUSINESS SUBJECT TO TAX.
  3. THE AMOUNT OF THE CREDIT  SHALL  BE  PROSCRIBED  ACCORDING  TO  THE
FOLLOWING SCHEDULE:
  (A)  TWENTY  PERCENT OF NET SALES ARE ATTRIBUTED TO LOCAL PRODUCTS THE
CREDIT SHALL BE ONE THOUSAND FIVE HUNDRED DOLLARS.
  (B) FORTY PERCENT OF NET SALES ARE ATTRIBUTED TO  LOCAL  PRODUCTS  THE
CREDIT SHALL BE THREE THOUSAND DOLLARS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02247-01-5