senate Bill S5161B

2017-2018 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 (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 13, 2018 print number 5161b
Feb 13, 2018 amend and recommit to investigations and government operations
Jan 03, 2018 referred to investigations and government operations
May 23, 2017 print number 5161a
May 23, 2017 amend (t) and recommit to investigations and government operations
Mar 09, 2017 referred to investigations and government operations

Co-Sponsors

S5161 - Details

See Assembly Version of this Bill:
A8416
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
2015-2016: S3631
2019-2020: A4800

S5161 - Summary

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

S5161 - Sponsor Memo

S5161 - Bill Text download pdf


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

                                  5161

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                              March 9, 2017
                               ___________

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

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  NINETEEN--TWO
THOUSAND  TWENTY, NINE MILLION DOLLARS IN STATE FISCAL YEAR TWO THOUSAND
TWENTY--TWO THOUSAND TWENTY-ONE AND  TWELVE  MILLION  DOLLARS  IN  STATE
FISCAL YEAR TWO THOUSAND TWENTY-ONE--TWO THOUSAND TWENTY-TWO.  For taxa-
ble  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.

Co-Sponsors

S5161A - Details

See Assembly Version of this Bill:
A8416
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
2015-2016: S3631
2019-2020: A4800

S5161A - Summary

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

S5161A - Sponsor Memo

S5161A - Bill Text download pdf


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

                                 5161--A

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                              March 9, 2017
                               ___________

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 -- committee discharged, bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

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]
SEVEN million dollars IN STATE FISCAL YEAR  TWO  THOUSAND  EIGHTEEN--TWO
THOUSAND  NINETEEN  AND  NINE  MILLION  DOLLARS IN STATE FISCAL YEAR TWO
THOUSAND NINETEEN--TWO THOUSAND TWENTY.  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 arti-
cle, 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  thou-
sand dollars.

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

Co-Sponsors

S5161B (ACTIVE) - Details

See Assembly Version of this Bill:
A8416
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
2015-2016: S3631
2019-2020: A4800

S5161B (ACTIVE) - Summary

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

S5161B (ACTIVE) - Sponsor Memo

S5161B (ACTIVE) - Bill Text download pdf


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

                                 5161--B

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                              March 9, 2017
                               ___________

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 -- committee discharged, bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee -- 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

  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] TWENTY-TWO, 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 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
[five]  SEVEN  million  dollars  IN STATE FISCAL YEAR TWO THOUSAND NINE-
TEEN--TWO THOUSAND TWENTY AND NINE MILLION DOLLARS IN STATE FISCAL  YEAR
TWO  THOUSAND TWENTY--TWO THOUSAND TWENTY-ONE.  For taxable years begin-
ning on or after January first,  two  thousand  [twenty]  TWENTY-TWO,  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

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

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