Senate Bill S3114A

2015-2016 Legislative Session

Relates to a NY local food and products sourcing tax credit

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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

co-Sponsors

2015-S3114 - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §210-B, Tax L
Versions Introduced in 2013-2014 Legislative Session:
S4774

2015-S3114 - Summary

Creates a local food and products sourcing tax credit to promote the sale of local products.

2015-S3114 - Sponsor Memo

2015-S3114 - Bill Text download pdf 

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

                                  3114

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 2, 2015
                               ___________

Introduced  by  Sen.  FUNKE  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

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.

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

co-Sponsors

2015-S3114A (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §210-B, Tax L
Versions Introduced in 2013-2014 Legislative Session:
S4774

2015-S3114A (ACTIVE) - Summary

Creates a local food and products sourcing tax credit to promote the sale of local products.

2015-S3114A (ACTIVE) - Sponsor Memo

2015-S3114A (ACTIVE) - Bill Text download pdf 

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

                                 3114--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 2, 2015
                               ___________

Introduced  by  Sens.  FUNKE, RITCHIE -- read twice and ordered printed,
  and when printed to be committed to the  Committee  on  Investigations
  and  Government Operations -- recommitted to the Committee on Investi-
  gations and Government Operations 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 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:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02247-02-6

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