NY State Senate Bill 2017-S5161B

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

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

Date of Action	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

Bill Amendments

Original

B (Active)

co-Sponsors

2017-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: S7928, A4800
2021-2022: A7298

2017-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.

2017-S5161 - Sponsor Memo

                                 BILL NUMBER:  S5161

 TITLE OF BILL :

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

 PURPOSE :

To increase the maximum award under the historic preservation tax cap
to $7 million in SFY 2018-19, $9 million in SFY 2019-20, and $12
million for SFY 2020-21.

 SUMMARY OF SPECIFIC PROVISIONS :

Section 1 - amends the Tax Law section 606 (A)1(oo) to increase the
maximum award under the Historic Preservation Tax Cap to $7 million in
SFY 201-20, $9 million in SFY 2020-21, and $12 million for SFY
2021-22.

Section 2 - amends the Tax Law section 210-a 26a(i) to increase the
maximum award under the Historic Preservation Tax Cap to $7 million in
SFY 2019-20, $9 million in SFY 2020-21, and $12 million for SFY
2021-22.

Section 3 - amends the Tax Law section 1511 (y)1(A) to increase the
maximum award under the Historic Preservation Tax Cap to $7 million in
SFY 2019-20, $9 million in SFY 2020-21, and $12 million for SFY
2021-22.

Section 4 - is the effective date.

 JUSTIFICATION :

The Historic Preservation Tax Credit is an effective tool to
revitalize historic properties throughout New York. This tax credit
has been used successfully by developers throughout New York to redo
buildings that have long fallen into neglect and in dire need of
repair. However, there is a current cap of $5 million per project.
This $5 million cap acts as a disincentive for developers to tackle
larger, more blighted, and more expensive projects.

Current law allows for a 20% tax credit up to a maximum of $5 million
dollars; this legislation continues the 20% credit, but raises the
maximum threshold over a period of years from $5 million, to $7
million, $9 million, and $12 million, therefore increasing the number
of properties that developers will likely rehabilitate under this
program.

 PRIOR LEGISLATIVE HISTORY :

2016 - S.3631-B/A.6670 - INVESTIGATIONS/Ways & Means
2015 - S.3631-A/A.6670 - FINANCE/Ways & Means
2013-14 - S.4642/A.6979 - PASSED SENATE/Ways & Means

 FISCAL IMPLICATIONS :

Minimal

 EFFECTIVE DATE :
This act shall take effect immediately

2017-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.

                                                            LBD03899-02-7

 S. 5161                             2
 
   § 2. Subparagraph (i) of paragraph a  of  subdivision  26  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:
   (i)  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 (c) (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.
   § 3. Subparagraph (A) of paragraph 1 of  subdivision  (y)  of  section
 1511  of the tax law, as amended by section 4 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.
   § 4. This act shall take effect immediately and shall apply to taxable
 years  beginning  on  and  after  January 1, 2017 provided that this act
 shall expire and be deemed repealed on and after December 31, 2023.

co-Sponsors

2017-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: S7928, A4800
2021-2022: A7298

2017-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.

2017-S5161A - Sponsor Memo

                                 BILL NUMBER:  S5161A

 TITLE OF BILL :  An act to amend the tax law, in relation to
increasing the maximum award available under the historic preservation
tax credit

 PURPOSE :

To increase the maximum award under the historic preservation tax cap
to $7 million in SFY 2018-19, $9 million in SFY 2019-20, and $12
million for SFY 2020-21.

 SUMMARY OF SPECIFIC PROVISIONS :

Section 1 - amends the Tax Law section 606 (A)1(oo) to increase the
maximum award under the Historic Preservation Tax Cap to $7 million in
SFY 201-20, $9 million in SFY 2020-21, and $12 million for SFY
2021-22.

Section 2 - amends the Tax Law section 210-a 26a(i) to increase the
maximum award under the Historic Preservation Tax Cap to $7 million in
SFY 2019-20, $9 million in SFY 2020-21, and $12 million for SFY
2021-22.

Section 3 - amends the Tax Law section 1511 (y)1(A) to increase the
maximum award under the Historic Preservation Tax Cap to $7 million in

SFY 2019-20, $9 million in SFY 2020-21, and $12 million for SFY
2021-22.

Section 4 - is the effective date.

 JUSTIFICATION :

The Historic Preservation Tax Credit is an effective tool to
revitalize historic properties throughout New York. This tax credit
has been used successfully by developers throughout New York to redo
buildings that have long fallen into neglect and in dire need of
repair. However, there is a current cap of $5 million per project.
This $5 million cap acts as a disincentive for developers to tackle
larger, more blighted, and more expensive projects.

Current law allows for a 20% tax credit up to a maximum of $5 million
dollars; this legislation continues the 20% credit, but raises the
maximum threshold over a period of years from $5 million, to $7
million, $9 million, and $12 million, therefore increasing the number
of properties that developers will likely rehabilitate under this
program.

 PRIOR LEGISLATIVE HISTORY :

2016 - S.3631-B/A.6670 - INVESTIGATIONS/Ways & Means
2015 - S.3631 -A/A.6670 - FINANCE/Ways & Means
2013-14 - S.4642/A.6979 - PASSED SENATE/Ways & Means

 FISCAL IMPLICATIONS :

Minimal

 EFFECTIVE DATE :
This act shall take effect immediately

2017-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.

                                                            LBD03899-03-7

 S. 5161--A                          2
 
   §  2.  Subparagraph  (i)  of  paragraph a of subdivision 26 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:
   (i)  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 (c) (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.
   §  3.  Subparagraph  (A)  of paragraph 1 of subdivision (y) of section
 1511 of the tax law, as amended by section 4 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.
   § 4. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2017.

co-Sponsors

2017-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: S7928, A4800
2021-2022: A7298

2017-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.

2017-S5161B (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S5161B

SPONSOR: RANZENHOFER
 
TITLE OF BILL:

An act to amend the tax law, in relation to increasing the maximum award
available under the historic preservation tax credit

 
PURPOSE:

To increase the maximum award under the historic preservation tax cap to
$7 million in SFY 2019-20, and $9 million in SFY 2020-21.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1 - amends the Tax Law section 606 (A)1(oo) to increase the
maximum award under the Historic Preservation Tax Cap to $7 million in
SFY 2019-20, and $9 million in SFY 2020-21.

Section 2 - amends the Tax Law section 210-a 26a(i) to increase the
maximum award under the Historic Preservation Tax Cap to $7 million in

SFY 2019-20, and $9 million in SFY 2020-21.

Section 3 - amends the Tax Law section 1511 (y)1(A) to increase the
maximum award under the Historic Preservation Tax Cap to $7 million in
SFY 2019-20, and $9 million in SFY 2020-21.

Section 4 - is the effective date.

 
JUSTIFICATION:

The Historic Preservation Tax Credit is an effective tool to revitalize
historic properties throughout New York. This tax credit has been used
successfully by developers throughout New York to redo buildings that
have long fallen into neglect and in dire need of repair. However, there
is a current cap of $5 million per project.  This $5 million cap acts as
a disincentive for developers to tackle larger, more blighted, and more
expensive projects.

Current law allows for a 20% tax credit up to a maximum of $5 million
dollars; this legislation continues the 20% credit, but raises the maxi-
mum threshold over a period of years from $5 million, to $7 million, $9
million, and therefore increasing the number of properties that develop-
ers will likely rehabilitate under this program.

 
PRIOR LEGISLATIVE HISTORY:

2017 - S.5161-A/A.8416 -- INVESTIGATIONS/Ways & Means
2016 - S.3631-B/A.6670 INVESTIGATIONS/Ways & Means
2015 - S .3631-A/A.6670 FINANCE/Ways & Means
2013-14 - S.4642/A.6979 - PASSED SENATE/Ways & Means

 
FISCAL IMPLICATIONS:

Minimal

 
EFFECTIVE DATE:
This act shall take effect immediately

2017-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.

                                                            LBD03899-05-8

 S. 5161--B                          2
 
 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.
   §  2.  Subparagraph  (i)  of  paragraph a of subdivision 26 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:
   (i)  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 (c) (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.
   § 3. Subparagraph (A) of paragraph 1 of  subdivision  (y)  of  section
 1511  of the tax law, as amended by section 4 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
 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.
   § 4. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2018.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. 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.

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

Find your Senator and share your views on important issues.

Do you support this bill?

Senate Bill S5161B

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

Actions

Bill Amendments

co-Sponsors

2017-S5161 - Details

2017-S5161 - Summary

2017-S5161 - Sponsor Memo

2017-S5161 - Bill Text download pdf

co-Sponsors

2017-S5161A - Details

2017-S5161A - Summary

2017-S5161A - Sponsor Memo

2017-S5161A - Bill Text download pdf

co-Sponsors

2017-S5161B (ACTIVE) - Details

2017-S5161B (ACTIVE) - Summary

2017-S5161B (ACTIVE) - Sponsor Memo

2017-S5161B (ACTIVE) - Bill Text download pdf

Comments

Do you support this bill?

Get Status Alerts for 2017-S5161B

Senate Bill S5161B

Share this bill

Sponsored By

Michael H. Ranzenhofer

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

Actions

Bill Amendments

co-Sponsors

David Carlucci

Rich Funke

2017-S5161 - Details

2017-S5161 - Summary

2017-S5161 - Sponsor Memo

2017-S5161 - Bill Text download pdf

co-Sponsors

David Carlucci

Rich Funke

2017-S5161A - Details

2017-S5161A - Summary

2017-S5161A - Sponsor Memo

2017-S5161A - Bill Text download pdf

co-Sponsors

David Carlucci

Rich Funke

2017-S5161B (ACTIVE) - Details

2017-S5161B (ACTIVE) - Summary

2017-S5161B (ACTIVE) - Sponsor Memo

2017-S5161B (ACTIVE) - Bill Text download pdf

Comments