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Senate Bill S8957

2017-2018 Legislative Session

Establishes the buy New York produce tax credit

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Archive: Last Bill Status - In Senate Committee Rules Committee

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2017-S8957 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
Tax Law
Laws Affected:
Amd §210-B, Tax L
Versions Introduced in 2019-2020 Legislative Session:
S751

2017-S8957 (ACTIVE) - Summary

Establishes the buy New York produce tax credit; provides a tax credit for food service establishments for ten percent of the total receipts of New York produced farm products purchased, not to exceed one thousand dollars.

2017-S8957 (ACTIVE) - Sponsor Memo

2017-S8957 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8957
 
                             I N  S E N A T E
 
                               June 7, 2018
                                ___________
 
 Introduced  by  Sen.  MONTGOMERY  -- read twice and ordered printed, and
   when printed to be committed to the Committee on Rules
 
 AN ACT to amend the tax law, in relation to  establishing  the  buy  New
   York produce tax credit
 
   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.  BUY NEW YORK PRODUCE TAX CREDIT. (A) AMOUNT OF CREDIT. A TAXPAYER
 SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY  THIS  ARTICLE  FOR
 PURCHASING  NEW  YORK  PRODUCED  FARM PRODUCTS. THE AMOUNT OF THE CREDIT
 SHALL BE EQUAL TO TEN PERCENT OF THE TOTAL RECEIPTS OF NEW YORK PRODUCED
 FARM PRODUCTS THAT ARE PURCHASED BY THE TAXPAYER IN A TAXABLE  YEAR  NOT
 TO EXCEED ONE THOUSAND DOLLARS IN A TAXABLE YEAR.
   (B)  CREDIT  LIMITATION.  THE  TOTAL  AMOUNT  OF CREDIT TO BE PROVIDED
 STATEWIDE SHALL NOT EXCEED FIVE MILLION DOLLARS IN A TAXABLE YEAR.
   (C) ELIGIBILITY. A TAXPAYER SHALL BE ELIGIBLE FOR THE  CREDIT  ALLOWED
 PURSUANT  TO  THIS SUBDIVISION IF SUCH TAXPAYER IS A FOOD SERVICE ESTAB-
 LISHMENT AS SUCH TERM IS DEFINED IN PARAGRAPH (D) OF THIS SUBDIVISION.
   (D) DEFINITIONS. (I) THE TERM "FOOD SERVICE ESTABLISHMENT" SHALL  MEAN
 A  PLACE  WHERE  FOOD  IS  PREPARED  AND INTENDED FOR INDIVIDUAL PORTION
 SERVICE AND INCLUDES THE SITE  AT  WHICH  THE  INDIVIDUAL  PORTIONS  ARE
 PROVIDED,  WHETHER CONSUMPTION OCCURS ON OR OFF THE PREMISES.  SUCH TERM
 SHALL NOT INCLUDE FOOD PROCESSING ESTABLISHMENTS,  RETAIL  FOOD  STORES,
 PRIVATE  HOMES  WHERE FOOD IS PREPARED OR SERVED FOR FAMILY CONSUMPTION,
 AND FOOD SERVICE OPERATIONS WHERE A DISTINCT  GROUP  MUTUALLY  PROVIDES,
 PREPARES, SERVES, AND CONSUMES THE FOOD LIMITED TO A CONGREGATION, CLUB,
 OR FRATERNAL ORGANIZATION.
   (II)  THE  TERM  "NEW  YORK  PRODUCED  FARM  PRODUCTS" SHALL MEAN FARM
 PRODUCTS GROWN, PRODUCED, OR HARVESTED IN NEW YORK STATE BY  AN  ASSOCI-
 ATION  OF  PRODUCERS  OR  GROWERS  THAT PRODUCE OR GROW EGGS, LIVESTOCK,
 FISH, DAIRY PRODUCTS (EXCLUDING MILK), JUICE,  GRAINS,  AND  SPECIES  OF
 FRESH FRUITS AND VEGETABLES.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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