assembly Bill A3281

2017-2018 Legislative Session

Relates to establishing a carbon farming tax credit for farmers

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Current Bill Status -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 27, 2017 referred to agriculture

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A3281 - Details

Law Section:
Agriculture and Markets Law
Laws Affected:
Amd §§150 & 16, Ag & Mkts L; amd §§210-B & 606, Tax L; amd §§3-0301 & 19-0309, En Con L

A3281 - Summary

Establishes a tax credit for farmers who maximize carbon sequestration potential through a "carbon farming" land management strategy; directs DEC to develop regulations related to certifying the amount of carbon sequestered or emissions reduced.

A3281 - Bill Text download pdf

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

                                  3281

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            January 27, 2017
                               ___________

Introduced  by M. of A. BARRETT -- read once and referred to the Commit-
  tee on Agriculture

AN ACT to amend the  agriculture  and  markets  law,  the  environmental
  conservation  law  and the tax law, in relation to enacting the carbon
  farming act

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

  Section  1.  This  act  shall be known and may be cited as the "carbon
farming act".
  S 2. Legislative intent. The legislature  hereby  finds  and  declares
that  soil  and vegetation management can significantly enhance soil and
carbon sequestration, resulting in a wide  range  of  environmental  and
agricultural  benefits  to  New  York  farmers and residents, including:
increased yields; soil health; improved water quality; and reductions in
greenhouse gases. The legislature further declares that enhancing carbon
sequestration, the long term storage of carbon in plants, soils, geolog-
ic formations and the ocean, through farming is in the best interest  of
New  Yorkers.  It  is  therefore  the  intent of the legislature and the
purpose of this act to encourage farmers to further sequester and  miti-
gate  carbon  in this state by establishing carbon farming tax credit to
reward and incentivize farmers to maintain or adopt practices that  help
maximize New York's carbon sequestration potential.
  S  3.  Section  150  of  the agriculture and markets law is amended by
adding a new subdivision 5 to read as follows:
  5. "CARBON FARMING" MEANS THE  IMPLEMENTATION  OF  A  LAND  MANAGEMENT
STRATEGY  FOR  THE  PURPOSES  OF  REDUCING, SEQUESTERING, AND MITIGATING
GREENHOUSE GAS EMISSIONS ON LAND USED IN SUPPORT OF A FARM OPERATION AND
QUANTIFYING THOSE  GREENHOUSE  GAS  BENEFITS  USING  THE  UNITED  STATES
DEPARTMENT OF AGRICULTURE'S COMET-PLANNER, COMET-FARM, AND OTHER QUANTI-
FICATION TOOLS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07578-04-7

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