assembly Bill A1558

2015-2016 Legislative Session

Relates to providing a tax credit to farmers who sell or rent their agricultural land to a young farmer

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 (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 24, 2016 print number 1558a
Feb 24, 2016 amend and recommit to ways and means
Jan 06, 2016 referred to ways and means
Jan 12, 2015 referred to ways and means

Co-Sponsors

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Multi-Sponsors

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A1558 - Details

Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: A9290
2017-2018: A4388

A1558 - Summary

Relates to providing a tax credit to farmers who sell or rent their agricultural land to a young farmer.

A1558 - Bill Text download pdf

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

                                  1558

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 12, 2015
                               ___________

Introduced  by  M.  of  A.  MAGEE, CROUCH, FINCH, GUNTHER, HAWLEY, OTIS,
  ROSENTHAL, RUSSELL,  SKOUFIS,  STIRPE,  BARCLAY,  JAFFEE,  MAGNARELLI,
  SEPULVEDA,  PEOPLES-STOKES,  TITONE  -- Multi-Sponsored by -- M. of A.
  BUTLER, CAMARA, CERETTO, COOK, DUPREY, GOTTFRIED, LUPARDO,  LUPINACCI,
  McLAUGHLIN,  ROBINSON, SIMANOWITZ, THIELE -- read once and referred to
  the Committee on Ways and Means

AN ACT to amend the tax law, in relation to providing a  tax  credit  to
  farmers who sell or rent their agricultural land to a young farmer

  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.  CREDIT  FOR FARMERS WHO SELL OR RENT THEIR AGRICULTURAL LAND TO A
YOUNG FARMER.  (A) ALLOWANCE OF CREDIT. A TAXPAYER THAT IS  AN  AGRICUL-
TURAL  BUSINESS  PRINCIPALLY ENGAGED IN FARMING, AS SUCH TERM IS DEFINED
IN PARAGRAPH NINETEEN OF SUBDIVISION (B) OF SECTION ELEVEN  HUNDRED  ONE
OF  THIS  CHAPTER  SHALL  BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY
THIS ARTICLE FOR THE SALE OR RENT OF THEIR AGRICULTURAL LANDS TO A YOUNG
FARMER, AS DEFINED IN THIS SECTION. SUCH CREDIT SHALL BE TEN PERCENT  OF
THE PURCHASE PRICE OR RENTAL AMOUNT OF THE AGRICULTURAL LANDS.
  (B)  FOR  PURPOSES  OF  THIS  SUBDIVISION, "YOUNG FARMER" SHALL MEAN A
FARMER WHO HAS NOT PRODUCED AN AGRICULTURAL PRODUCT FOR  MORE  THAN  TEN
CONSECUTIVE  YEARS, WHERE AGRICULTURAL PRODUCT MEANS ANY AGRICULTURAL OR
AQUACULTURAL PRODUCT OF THE SOIL OR WATER, INCLUDING BUT NOT LIMITED  TO
FRUITS,  VEGETABLES, EGGS, DAIRY PRODUCTS, MEAT AND MEAT PRODUCTS, POUL-
TRY AND POULTRY PRODUCTS,  FISH  AND  FISH  PRODUCTS,  GRAIN  AND  GRAIN
PRODUCTS, HONEY, NUTS, PRESERVES, MAPLE SAP PRODUCTS, APPLE CIDER, FRUIT
JUICE, HORTICULTURAL SPECIALTIES, AND CHRISTMAS TREES AND WHO WILL MATE-
RIALLY  AND  SUBSTANTIALLY  PARTICIPATE IN THE PRODUCTION OF AN AGRICUL-
TURAL PROJECT.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05709-01-5

Co-Sponsors

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Multi-Sponsors

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A1558A (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: A9290
2017-2018: A4388

A1558A (ACTIVE) - Summary

Relates to providing a tax credit to farmers who sell or rent their agricultural land to a young farmer.

A1558A (ACTIVE) - Bill Text download pdf

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

                                 1558--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 12, 2015
                               ___________

Introduced  by  M.  of  A.  MAGEE, CROUCH, FINCH, GUNTHER, HAWLEY, OTIS,
  ROSENTHAL, RUSSELL,  SKOUFIS,  STIRPE,  BARCLAY,  JAFFEE,  MAGNARELLI,
  SEPULVEDA,  PEOPLES-STOKES,  TITONE  -- Multi-Sponsored by -- M. of A.
  BUTLER, CERETTO, COOK, DUPREY, GOTTFRIED, LUPARDO, LUPINACCI, McLAUGH-
  LIN, PALMESANO, ROBINSON, SIMANOWITZ, THIELE -- read once and referred
  to the Committee on Ways and Means -- recommitted to the Committee  on
  Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN  ACT  to  amend the tax law, in relation to providing a tax credit to
  farmers who sell or rent their agricultural land to a young farmer

  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 51 to read as follows:
  51. CREDIT FOR FARMERS WHO SELL OR RENT THEIR AGRICULTURAL LAND  TO  A
YOUNG  FARMER.   (A) ALLOWANCE OF CREDIT. A TAXPAYER THAT IS AN AGRICUL-
TURAL BUSINESS PRINCIPALLY ENGAGED IN FARMING, AS SUCH TERM  IS  DEFINED
IN  PARAGRAPH  NINETEEN OF SUBDIVISION (B) OF SECTION ELEVEN HUNDRED ONE
OF THIS CHAPTER SHALL BE ALLOWED A CREDIT AGAINST  THE  TAX  IMPOSED  BY
THIS ARTICLE FOR THE SALE OR RENT OF THEIR AGRICULTURAL LANDS TO A YOUNG
FARMER,  AS DEFINED IN THIS SECTION. SUCH CREDIT SHALL BE TEN PERCENT OF
THE PURCHASE PRICE OR RENTAL AMOUNT OF THE AGRICULTURAL LANDS.
  (B) FOR PURPOSES OF THIS SUBDIVISION,  "YOUNG  FARMER"  SHALL  MEAN  A
FARMER  WHO  HAS  NOT PRODUCED AN AGRICULTURAL PRODUCT FOR MORE THAN TEN
CONSECUTIVE YEARS, WHERE AGRICULTURAL PRODUCT MEANS ANY AGRICULTURAL  OR
AQUACULTURAL  PRODUCT OF THE SOIL OR WATER, INCLUDING BUT NOT LIMITED TO
FRUITS, VEGETABLES, EGGS, DAIRY PRODUCTS, MEAT AND MEAT PRODUCTS,  POUL-
TRY  AND  POULTRY  PRODUCTS,  FISH  AND  FISH  PRODUCTS, GRAIN AND GRAIN
PRODUCTS, HONEY, NUTS, PRESERVES, MAPLE SAP PRODUCTS, APPLE CIDER, FRUIT
JUICE, HORTICULTURAL SPECIALTIES, AND CHRISTMAS TREES AND WHO WILL MATE-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05709-03-6

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