senate Bill S1606

2017-2018 Legislative Session

Relates to establishing a credit for donation to a food bank or other emergency food program by New York state farmers

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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 (9)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 03, 2018 referred to investigations and government operations
returned to senate
died in assembly
Jan 30, 2017 referred to ways and means
delivered to assembly
passed senate
Jan 23, 2017 ordered to third reading cal.56
committee discharged and committed to rules
Jan 10, 2017 referred to investigations and government operations

Co-Sponsors

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S1606 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §§606 & 210-B, Tax L
Versions Introduced in 2015-2016 Legislative Session:
S7833

S1606 (ACTIVE) - Summary

Establishes a tax credit for donation of wholesome food to a food bank or other emergency food program by eligible New York state farmers.

S1606 (ACTIVE) - Sponsor Memo

S1606 (ACTIVE) - Bill Text download pdf


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

                                  1606

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                            January 10, 2017
                               ___________

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 a credit for donations to  a
  food bank or other emergency food program by New York state farmers

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

  Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
subsection (n-2) to read as follows:
  (N-2)  CREDIT  FOR  FARM  DONATIONS  TO  FOOD  BANK  OR EMERGENCY FOOD
PROGRAM. (1) GENERAL. IN THE CASE OF A TAXPAYER WHO IS AN ELIGIBLE FARM-
ER, THERE SHALL BE ALLOWED A  CREDIT,  TO  BE  COMPUTED  AS  HEREINAFTER
PROVIDED  AGAINST  THE  TAX IMPOSED BY THIS ARTICLE FOR TAXABLE YEARS ON
AND AFTER JANUARY FIRST, TWO THOUSAND EIGHTEEN. THE AMOUNT OF THE CREDIT
SHALL BE TWENTY-FIVE PERCENT OF THE WHOLESALE  COST  OF  THE  TAXPAYER'S
QUALIFIED  DONATIONS,  AS DEFINED IN PARAGRAPH THREE OF THIS SUBSECTION,
MADE TO ANY FOOD BANK OR  OTHER  PUBLIC,  CHARITABLE  OR  NOT-FOR-PROFIT
EMERGENCY  FOOD PROGRAM OPERATING WITHIN THIS STATE, UP TO FIVE THOUSAND
DOLLARS PER YEAR.
  (2) ELIGIBLE FARMER. FOR PURPOSES OF THIS SUBSECTION, THE TERM "ELIGI-
BLE FARMER" MEANS A NEW YORK STATE RESIDENT TAXPAYER WHOSE FEDERAL GROSS
INCOME FROM FARMING FOR THE TAXABLE  YEAR  IS  AT  LEAST  TWO-THIRDS  OF
EXCESS  FEDERAL  GROSS  INCOME.  EXCESS  FEDERAL  GROSS INCOME MEANS THE
AMOUNT OF FEDERAL GROSS INCOME FROM ALL SOURCES  FOR  THE  TAXABLE  YEAR
REDUCED  BY  THE  SUM  (NOT  TO EXCEED THIRTY THOUSAND DOLLARS) OF THOSE
ITEMS INCLUDED IN FEDERAL GROSS  INCOME  WHICH  CONSIST  OF  (I)  EARNED
INCOME, (II) PENSION PAYMENTS, INCLUDING SOCIAL SECURITY PAYMENTS, (III)
INTEREST,  AND  (IV) DIVIDENDS. FOR PURPOSES OF THIS PARAGRAPH, THE TERM
"EARNED INCOME" SHALL MEAN WAGES,  SALARIES,  TIPS  AND  OTHER  EMPLOYEE
COMPENSATION,  AND  THOSE  ITEMS OF GROSS INCOME WHICH ARE INCLUDIBLE IN
THE COMPUTATION OF NET EARNINGS FROM SELF-EMPLOYMENT. FOR  THE  PURPOSES

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

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