senate Bill S3631B

2015-2016 Legislative Session

Increases the maximum award available under the historic preservation tax credit

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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 (7)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 02, 2016 print number 3631b
Feb 02, 2016 amend (t) and recommit to investigations and government operations
Jan 06, 2016 referred to investigations and government operations
May 29, 2015 print number 3631a
May 29, 2015 amend (t) and recommit to finance
May 19, 2015 reported and committed to finance
Feb 13, 2015 referred to investigations and government operations

Votes

view votes

May 19, 2015 - Investigations and Government Operations committee Vote

S3631
9
0
committee
9
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: May 19, 2015

Co-Sponsors

S3631 - Details

See Assembly Version of this Bill:
A6670
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §§606, 210-B & 1511, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S4642, A6979
2017-2018: S5161

S3631 - Summary

Increases the maximum award available under the historic preservation tax credit from five million dollars to twelve million dollars over a period of three years.

S3631 - Sponsor Memo

S3631 - Bill Text download pdf

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

                                  3631

                       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 the tax law, in relation to increasing the maximum award
  available  under  the  historic preservation tax credit; and providing
  for the repeal of such provisions upon expiration thereof

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

  Section  1.  Subparagraph  (A)  of  paragraph  1 of subsection (oo) of
section 606 of the tax law, as amended by section 1 of part F of chapter
59 of the laws of 2013, is amended to read as follows:
  (A) For taxable years beginning on or after January first,  two  thou-
sand ten and before January first, two thousand twenty, a taxpayer shall
be  allowed a credit as hereinafter provided, against the tax imposed by
this article, in an amount equal to one hundred percent of the amount of
credit allowed the taxpayer with respect to a certified historic  struc-
ture  under  subsection  (a)  (2)  of section 47 of the federal internal
revenue code with respect to  a  certified  historic  structure  located
within  the state. Provided, however, the credit shall not exceed [five]
SEVEN million dollars IN STATE FISCAL YEAR  TWO  THOUSAND  EIGHTEEN--TWO
THOUSAND  NINETEEN,  NINE MILLION DOLLARS IN STATE FISCAL YEAR TWO THOU-
SAND NINETEEN--TWO THOUSAND TWENTY AND TWELVE MILLION DOLLARS  IN  STATE
FISCAL  YEAR  TWO THOUSAND TWENTY--TWO THOUSAND TWENTY-ONE.  For taxable
years beginning on or  after  January  first,  two  thousand  twenty,  a
taxpayer  shall be allowed a credit as hereinafter provided, against the
tax imposed by this article, in an amount equal to thirty percent of the
amount of credit allowed  the  taxpayer  with  respect  to  a  certified
historic  structure under subsection (a)(2) of section 47 of the federal
internal revenue code with respect to  a  certified  historic  structure
located within the state; provided, however, the credit shall not exceed
one hundred thousand dollars.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02818-02-5

Co-Sponsors

S3631A - Details

See Assembly Version of this Bill:
A6670
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §§606, 210-B & 1511, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S4642, A6979
2017-2018: S5161

S3631A - Summary

Increases the maximum award available under the historic preservation tax credit from five million dollars to twelve million dollars over a period of three years.

S3631A - Sponsor Memo

S3631A - Bill Text download pdf

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

                                 3631--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 13, 2015
                               ___________

Introduced  by  Sens.  RANZENHOFER,  CARLUCCI,  FUNKE  -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Investigations  and  Government  Operations -- reported favorably from
  said committee and committed to the Committee on Finance --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN ACT to amend the tax law, in relation to increasing the maximum award
  available under the historic preservation tax credit

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

  Section 1. Subparagraph (A) of  paragraph  1  of  subsection  (oo)  of
section 606 of the tax law, as amended by section 1 of part F of chapter
59 of the laws of 2013, is amended to read as follows:
  (A)  For  taxable years beginning on or after January first, two thou-
sand ten and before January first, two thousand twenty, a taxpayer shall
be allowed a credit as hereinafter provided, against the tax imposed  by
this article, in an amount equal to one hundred percent of the amount of
credit  allowed the taxpayer with respect to a certified historic struc-
ture under subsection (a) (2) of section  47  of  the  federal  internal
revenue  code  with  respect  to  a certified historic structure located
within the state. Provided, however, the credit shall  not  exceed  five
million dollars FOR TAXABLE YEARS ENDING BEFORE JANUARY FIRST, TWO THOU-
SAND  SEVENTEEN,  SEVEN  MILLION  DOLLARS FOR THE TWO THOUSAND SEVENTEEN
TAXABLE YEAR, NINE MILLION DOLLARS FOR THE TWO THOUSAND EIGHTEEN TAXABLE
YEAR, AND TWELVE MILLION DOLLARS FOR THE TWO THOUSAND  NINETEEN  TAXABLE
YEAR.  For  taxable years beginning on or after January first, two thou-
sand twenty, a  taxpayer  shall  be  allowed  a  credit  as  hereinafter
provided, against the tax imposed by this article, in an amount equal to
thirty percent of the amount of credit allowed the taxpayer with respect
to  a certified historic structure under subsection (a)(2) of section 47
of the federal internal revenue code with respect to a certified histor-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02818-03-5

Co-Sponsors

S3631B (ACTIVE) - Details

See Assembly Version of this Bill:
A6670
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §§606, 210-B & 1511, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S4642, A6979
2017-2018: S5161

S3631B (ACTIVE) - Summary

Increases the maximum award available under the historic preservation tax credit from five million dollars to twelve million dollars over a period of three years.

S3631B (ACTIVE) - Sponsor Memo

S3631B (ACTIVE) - Bill Text download pdf

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

                                 3631--B

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 13, 2015
                               ___________

Introduced  by  Sens.  RANZENHOFER,  CARLUCCI,  FUNKE  -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Investigations  and  Government  Operations -- reported favorably from
  said committee and committed to the Committee on Finance --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to  said  committee  -- recommitted to the Committee on Investigations
  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 increasing the maximum award
  available under the historic preservation tax  credit;  and  providing
  for the repeal of such provisions upon expiration thereof

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

  Section 1. Subparagraph (A) of  paragraph  1  of  subsection  (oo)  of
section 606 of the tax law, as amended by section 1 of part F of chapter
59 of the laws of 2013, is amended to read as follows:
  (A)  For  taxable years beginning on or after January first, two thou-
sand ten and before January first, two thousand twenty, a taxpayer shall
be allowed a credit as hereinafter provided, against the tax imposed  by
this article, in an amount equal to one hundred percent of the amount of
credit  allowed the taxpayer with respect to a certified historic struc-
ture under subsection (a) (2) of section  47  of  the  federal  internal
revenue  code  with  respect  to  a certified historic structure located
within the state. Provided, however, the credit shall not exceed  [five]
SEVEN  million  dollars  IN STATE FISCAL YEAR TWO THOUSAND EIGHTEEN--TWO
THOUSAND NINETEEN, NINE MILLION DOLLARS IN STATE FISCAL YEAR  TWO  THOU-
SAND  NINETEEN--TWO  THOUSAND TWENTY AND TWELVE MILLION DOLLARS IN STATE
FISCAL YEAR TWO THOUSAND TWENTY--TWO THOUSAND TWENTY-ONE.   For  taxable
years  beginning  on  or  after  January  first,  two thousand twenty, a
taxpayer shall be allowed a credit as hereinafter provided, against  the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02818-05-6

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