assembly Bill A4388B

2017-2018 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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 08, 2018 print number 4388b
Mar 08, 2018 amend and recommit to ways and means
Jan 03, 2018 referred to ways and means
Jun 08, 2017 print number 4388a
Jun 08, 2017 amend and recommit to ways and means
Feb 02, 2017 referred to ways and means

Co-Sponsors

view additional co-sponsors

Multi-Sponsors

view additional multi-sponsors

A4388 - Details

See Senate Version of this Bill:
S1438
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: A9290, S6882
2015-2016: A1558, S1798

A4388 - Summary

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

A4388 - Bill Text download pdf


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

                                  4388

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            February 2, 2017
                               ___________

Introduced  by  M.  of  A.  MAGEE, CROUCH, FINCH, GUNTHER, HAWLEY, OTIS,
  ROSENTHAL,  JENNE,  SKOUFIS,  STIRPE,  BARCLAY,  JAFFEE,   MAGNARELLI,
  SEPULVEDA,  PEOPLES-STOKES,  TITONE, DiPIETRO -- Multi-Sponsored by --
  M. of A. BUTLER,  COOK,  GOTTFRIED,  LUPARDO,  LUPINACCI,  McLAUGHLIN,
  PALMESANO, SIMANOWITZ, THIELE -- read once and referred to the Commit-
  tee 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 52 to read as follows:
  52. 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.
                                                           LBD07443-01-7

Co-Sponsors

view additional co-sponsors

Multi-Sponsors

view additional multi-sponsors

A4388A - Details

See Senate Version of this Bill:
S1438
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: A9290, S6882
2015-2016: A1558, S1798

A4388A - Summary

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

A4388A - Bill Text download pdf


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

                                 4388--A

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            February 2, 2017
                               ___________

Introduced  by  M.  of  A.  MAGEE, CROUCH, FINCH, GUNTHER, HAWLEY, OTIS,
  ROSENTHAL,  JENNE,  SKOUFIS,  STIRPE,  BARCLAY,  JAFFEE,   MAGNARELLI,
  SEPULVEDA,  PEOPLES-STOKES,  TITONE, DiPIETRO -- Multi-Sponsored by --
  M. of A. BUTLER,  COOK,  GOTTFRIED,  LUPARDO,  LUPINACCI,  McLAUGHLIN,
  PALMESANO, SIMANOWITZ, THIELE -- read once and referred to the Commit-
  tee  on  Ways and Means -- 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 53 to read as follows:
  53.  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; PROVIDED,
HOWEVER,  THAT  SUCH PRICE SHALL NOT EXCEED THE FAIR MARKET VALUE OF THE
REAL PROPERTY. A TAXPAYER WHO SELLS OR RENTS THEIR AGRICULTURAL LAND  TO
A RELATIVE SHALL BE ELIGIBLE FOR THE CREDIT ESTABLISHED IN THIS SECTION.
  (B)  FOR  PURPOSES  OF  THIS  SUBDIVISION, "YOUNG FARMER" SHALL MEAN A
FARMER WHO IS AT LEAST EIGHTEEN YEARS OLD AND WHO HAS  NOT  PRODUCED  AN
AGRICULTURAL PRODUCT FOR MORE THAN TEN CONSECUTIVE YEARS, WHERE AGRICUL-
TURAL 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, POULTRY AND POULTRY PRODUCTS, FISH AND
FISH PRODUCTS, GRAIN AND GRAIN PRODUCTS, HONEY, NUTS,  PRESERVES,  MAPLE

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

Co-Sponsors

view additional co-sponsors

Multi-Sponsors

view additional multi-sponsors

A4388B (ACTIVE) - Details

See Senate Version of this Bill:
S1438
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: A9290, S6882
2015-2016: A1558, S1798

A4388B (ACTIVE) - Summary

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

A4388B (ACTIVE) - Bill Text download pdf


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

                                 4388--B

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            February 2, 2017
                               ___________

Introduced  by  M.  of  A.  MAGEE, CROUCH, FINCH, GUNTHER, HAWLEY, OTIS,
  L. ROSENTHAL, JENNE, SKOUFIS,  STIRPE,  BARCLAY,  JAFFEE,  MAGNARELLI,
  SEPULVEDA,  PEOPLES-STOKES,  TITONE, DiPIETRO -- Multi-Sponsored by --
  M. of A.  BUTLER, COOK, GOTTFRIED, LUPARDO, PALMESANO, THIELE --  read
  once  and  referred  to  the  Committee on Ways and Means -- committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee -- 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 commit-
  tee

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 53 to read as follows:
  53.  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; PROVIDED,
HOWEVER,  THAT  SUCH PRICE SHALL NOT EXCEED THE FAIR MARKET VALUE OF THE
REAL PROPERTY. A TAXPAYER WHO SELLS OR RENTS THEIR AGRICULTURAL LAND  TO
A RELATIVE SHALL BE ELIGIBLE FOR THE CREDIT ESTABLISHED IN THIS SECTION.
  (B)  FOR  PURPOSES  OF  THIS  SUBDIVISION, "YOUNG FARMER" SHALL MEAN A
FARMER WHO IS AT LEAST EIGHTEEN YEARS OLD AND WHO HAS  NOT  PRODUCED  AN
AGRICULTURAL PRODUCT FOR MORE THAN TEN CONSECUTIVE YEARS, WHERE AGRICUL-
TURAL PRODUCT MEANS ANY AGRICULTURAL OR AQUACULTURAL PRODUCT OF THE SOIL

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

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.