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Senate Bill S3599

2015-2016 Legislative Session

Provides that certain tax credits shall not apply if the certificate of remediation required to qualify for such credits is issued after March 31, 2018

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

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2015-S3599 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Taxation
Laws Affected:
Amd Part H ยง31, Chap 1 of 2003

2015-S3599 (ACTIVE) - Summary

Provides that certain tax credits shall not apply if the certificate of remediation required to qualify for such credits is issued after March 31, 2018.

2015-S3599 (ACTIVE) - Sponsor Memo

2015-S3599 (ACTIVE) - Bill Text download pdf 

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

                                  3599

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 13, 2015
                               ___________

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

AN  ACT  to  amend part H of chapter 1 of the laws of 2003, amending the
  tax law relating to brownfield redevelopment tax  credits,  remediated
  brownfield  credit  for  real  property  taxes for qualified sites and
  environmental remediation insurance credits, in relation to  extending
  certain provisions thereof

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

  Section 1. Section 31 of part H of chapter 1  of  the  laws  of  2003,
amending  the  tax law relating to brownfield redevelopment tax credits,
remediated brownfield credit for real property taxes for qualified sites
and environmental remediation insurance credits, as amended  by  chapter
474 of the laws of 2012, is amended to read as follows:
  S  31.  The  tax credits allowed under section 21, 22 or 23 of the tax
law and the corresponding provisions in articles 9, 9-A, 22, 32  and  33
of the tax law, as added by the provisions of sections one through twen-
ty-nine  of this act, shall not be applicable if the remediation certif-
icate required to qualify for  any  of  such  credits  is  issued  after
[December 31, 2015] MARCH 31, 2018.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07434-01-5

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