| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jan 31, 2018 |
print number 5151a |
| Jan 31, 2018 |
amend (t) and recommit to investigations and government operations |
| Jan 03, 2018 |
referred to investigations and government operations |
| Mar 09, 2017 |
referred to investigations and government operations |
Senate Bill S5151A
2017-2018 Legislative Session
Sponsored By
(D, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
Actions
Bill Amendments
2017-S5151 - Details
2017-S5151 - Sponsor Memo
BILL NUMBER: S5151
TITLE OF BILL : An act to amend the tax law, in relation to
increasing the amount of the business franchise and person a income
tax credits for real property taxes paid by qualified manufacturers
PURPOSE :
Increases from 20% to 100% the portion of real property taxes that a
manufacturer may take as a business franchise or personal income tax
credit.
SUMMARY OF SPECIFIC PROVISIONS :
§ 1. Amends Section 210-B of the tax law to increase the manufacturer
real property tax credit from 20% to 100%.
§ 2 Amends Section 606 of the tax law to increase the manufacturer
real property tax credit from 20% to 100%.
§ 3 Effective date.
JUSTIFICATION :
In the manufacturing industry and in business in general, many
expenses need to be covered to keep the doors open and people
2017-S5151 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
5151
2017-2018 Regular Sessions
I N S E N A T E
March 9, 2017
___________
Introduced by Sen. VALESKY -- 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 increasing the amount of the
business franchise and person a income tax credits for real property
taxes paid by qualified manufacturers
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph (a) of subdivision 43 of section 210-B of the tax
law, as added by section 17 of part A of chapter 59 of the laws of 2014,
is amended to read as follows:
(a) A qualified New York manufacturer, as defined in subparagraph (vi)
of paragraph (a) of subdivision one of section two hundred ten of this
article, will be allowed a credit equal to [twenty] ONE HUNDRED percent
of the real property tax it paid during the taxable year for real prop-
erty owned by such manufacturer in New York which was principally used
during the taxable year for manufacturing to the extent not deducted in
determining entire net income. This credit will not be allowed if the
real property taxes that are the basis for this credit are included in
the calculation of another credit claimed by the taxpayer.
§ 2. Paragraph 1 of subsection (xx) of section 606 of the tax law, as
amended by section 8 of part I of chapter 59 of the laws of 2015, is
amended to read as follows:
(1) A qualified New York manufacturer will be allowed a credit equal
to [twenty] ONE HUNDRED percent of the real property tax it paid during
the taxable year for real property owned by such manufacturer in New
York which was principally used during the taxable year for manufactur-
ing to the extent not deducted in computing New York adjusted gross
income. This credit will not be allowed if the real property taxes that
are the basis for this credit are included in the calculation of another
credit claimed by the taxpayer.
§ 3. This act shall take effect immediately and shall apply to taxable
years commencing on or after January 1, 2017.
2017-S5151A (ACTIVE) - Details
2017-S5151A (ACTIVE) - Sponsor Memo
BILL NUMBER: S5151A
SPONSOR: VALESKY
TITLE OF BILL:
An act to amend the tax law, in relation to increasing the amount of the
business franchise and person a income tax credits for real property
taxes paid by qualified manufacturers
PURPOSE:
Increases from 20% to 100% the portion of real property taxes that a
manufacturer may take as a business franchise or personal income tax
credit.
SUMMARY OF SPECIFIC PROVISIONS:
§ 1. Amends Section 210-B of the tax law to increase the manufacturer
real property tax credit from 20% to 100%.
§ 2 Amends Section 606 of the tax law to increase the manufacturer real
2017-S5151A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
5151--A
2017-2018 Regular Sessions
I N S E N A T E
March 9, 2017
___________
Introduced by Sen. VALESKY -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
ment Operations -- 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 amount of the
business franchise and personal income tax credits for real property
taxes paid by qualified manufacturers
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph (a) of subdivision 43 of section 210-B of the tax
law, as added by section 17 of part A of chapter 59 of the laws of 2014,
is amended to read as follows:
(a) A qualified New York manufacturer, as defined in subparagraph (vi)
of paragraph (a) of subdivision one of section two hundred ten of this
article, will be allowed a credit equal to [twenty] ONE HUNDRED percent
of the real property tax it paid during the taxable year for real prop-
erty owned by such manufacturer in New York which was principally used
during the taxable year for manufacturing to the extent not deducted in
determining entire net income. This credit will not be allowed if the
real property taxes that are the basis for this credit are included in
the calculation of another credit claimed by the taxpayer.
§ 2. Paragraph 1 of subsection (xx) of section 606 of the tax law, as
amended by section 8 of part I of chapter 59 of the laws of 2015, is
amended to read as follows:
(1) A qualified New York manufacturer will be allowed a credit equal
to [twenty] ONE HUNDRED percent of the real property tax it paid during
the taxable year for real property owned by such manufacturer in New
York which was principally used during the taxable year for manufactur-
ing to the extent not deducted in computing New York adjusted gross
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
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