NY State Senate Bill 2017-S1695A

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

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Feb 15, 2018	print number 1695a
Feb 15, 2018	amend and recommit to investigations and government operations
Jan 03, 2018	referred to investigations and government operations returned to senate died in assembly
Jun 15, 2017	referred to ways and means delivered to assembly passed senate
Jun 14, 2017	ordered to third reading cal.1607 committee discharged and committed to rules
Jan 10, 2017	referred to investigations and government operations

Votes

- Jun 15, 2017 - Floor Vote
  S1695A
  
  59
  
  Aye
  
  1
  
  Nay
  
  0
  
  Absent
  
  3
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 15, 2017
      
      aye (59)
      
      Addabbo Jr.
      
      Akshar
      
      Alcantara
      
      Amedore
      
      Avella
      
      Benjamin
      
      Bonacic
      
      Boyle
      
      Breslin
      
      Brooks
      
      Carlucci
      
      Comrie
      
      Croci
      
      DeFrancisco
      
      Dilan
      
      Felder
      
      Flanagan
      
      Funke
      
      Gallivan
      
      Gianaris
      
      Golden
      
      Griffo
      
      Hamilton
      
      Hannon
      
      Helming
      
      Hoylman-Sigal
      
      Jacobs
      
      Kaminsky
      
      Kennedy
      
      Klein
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Latimer
      
      Little
      
      Marchione
      
      Montgomery
      
      Murphy
      
      O'Mara
      
      Parker
      
      Peralta
      
      Persaud
      
      Phillips
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Sanders Jr.
      
      Savino
      
      Serino
      
      Serrano
      
      Seward
      
      Squadron
      
      Stavisky
      
      Stewart-Cousins
      
      Tedisco
      
      Valesky
      
      Young
      
      nay (1)
      
      Ortt
      
      excused (3)
      
      Bailey
      
      Diaz
      
      Marcellino
  Jun 14, 2017 - Rules Committee Vote
  S1695A
  
  25
  
  Aye
  
  0
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Rules Committee Vote: Jun 14, 2017
      
      aye (25)
      
      Bonacic
      
      Breslin
      
      Carlucci
      
      DeFrancisco
      
      Dilan
      
      Flanagan
      
      Gianaris
      
      Griffo
      
      Hannon
      
      Kennedy
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Little
      
      Marcellino
      
      Montgomery
      
      Parker
      
      Ranzenhofer
      
      Robach
      
      Savino
      
      Seward
      
      Squadron
      
      Stewart-Cousins
      
      Valesky

Bill Amendments

Original

A (Active)

2017-S1695 - Details

See Assembly Version of this Bill:: A3309
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §§606 & 210-B, Tax L
Versions Introduced in Other Legislative Sessions:: 2009-2010: S866
2011-2012: S4088
2013-2014: S3631
2015-2016: S1921, A3920

2017-S1695 - Summary

Makes technical corrections to the conservation easement tax credit.

2017-S1695 - Sponsor Memo

                                 BILL NUMBER:  S1695

 TITLE OF BILL :

An act to amend the tax law, in relation to making technical
corrections to the conservation easement tax credit

 PURPOSE :

To include village taxes in the calculation of the income tax credit
available to land owners that grant a conservation easement.

 SUMMARY OF PROVISIONS :

Section 1 and 2 make technical corrections to Chapter 62 of the laws
of 2006 to allow the income tax credit to be applied to all
classifications of land subject to the easement, including village
taxes.

 JUSTIFICATION :

Currently, an income tax credit is available to land owners that grant
conservation easement based on 25% of their property taxes up to
$5,000. This legislation will make a technical amendment to the
current tax credit to include village property taxes.

An income tax credit for real property taxes paid on land under a
conservation easement will help landowners bear the annual carrying
costs of land that provides multiple public benefits. This income tax
credit will have a large impact on those landowners who have modest
incomes and are unlikely to benefit significantly from existing tax
deductions. An income tax credit will provide them with an incentive
to make a gift to perpetually conserved land that they otherwise could
not afford to make.

 LEGISLATIVE HISTORY :

2016: S.1921 Passed Senate
2015: S.1921 Passed Senate / A.3920 Ways and Means
2013-14: S.3631-A Passed Senate / A.4898-A Ways and Means
2011-12: S.4088-A Passed Senate /A.9653 Ways and Means
2009-10: S.866 Investigations and Government Operations /A.5876 Ways
and Means
2007-08: S.4368-A Passed Senate IA. 7134-B Passed Assembly-2008
Governor's Veto 9.

 FISCAL IMPLICATIONS :

Minimal.

 EFFECTIVE DATE :
This act shall take effect immediately and shall be made applicable to
taxable years commencing on and after January 1, 2018 and thereafter.

2017-S1695 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1695
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 10, 2017
                                ___________
 
 Introduced  by  Sen.  MARCELLINO  -- 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 making technical corrections
   to the conservation easement tax credit

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph 1 of subsection (kk) of section 606  of  the  tax
 law,  as added by section 1 of part F of chapter 62 of the laws of 2006,
 is amended to read as follows:
   (1) Credit allowed. In the case of a taxpayer who owns  land  that  is
 subject to a conservation easement held by a public or private conserva-
 tion  agency, there shall be allowed a credit for twenty-five percent of
 the [allowable school district, county and  town]  real  property  taxes
 PAID  on  [such]  THE  land,  OR  PORTION  OF  THE  LAND, SUBJECT TO THE
 EASEMENT. In no event shall the credit allowed under this subsection  in
 combination  with any other credit for [such school district, county and
 town] real property taxes under this section exceed such taxes.
   § 2. Subdivision 22 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 renumbered
 subdivision 49 and is amended to read as follows:
   49. Conservation easement tax credit. (a) Credit allowed. In the  case
 of  a  taxpayer who owns land that is subject to a conservation easement
 held by a public or private conservation agency, there shall be  allowed
 a  credit  for  twenty-five  percent  of the [allowable school district,
 county and town] real property taxes PAID on [such] THE land, OR PORTION
 OF THE LAND, SUBJECT TO THE EASEMENT. In no such case shall  the  credit
 allowed  under this subdivision in combination with any other credit for
 [such school district, county and town] real property taxes  under  this
 section exceed such taxes.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02348-01-7

 S. 1695                             2
 
   (b)  Conservation easement. For purposes of this subdivision, the term
 "conservation easement" means a  perpetual  and  permanent  conservation
 easement as defined in article forty-nine of the environmental conserva-
 tion  law  that serves to protect open space, scenic, natural resources,
 biodiversity,   agricultural,  watershed  and/or  historic  preservation
 resources. Any conservation easement for which a tax credit  is  claimed
 under  this  subdivision  shall be filed with the department of environ-
 mental conservation, as provided for in article forty-nine of the  envi-
 ronmental  conservation  law and such conservation easement shall comply
 with the provisions of title three of such article, and  the  provisions
 of  subdivision  (h)  of section 170 of the internal revenue code. Dedi-
 cations of land for open space through  the  execution  of  conservation
 easements  for  the purpose of fulfilling density requirements to obtain
 subdivision or building permits shall not be considered  a  conservation
 easement under this subdivision.
   (c)  Land.  For  purposes of this subdivision, the term "land" means a
 fee simple title to real property located in this state, with or without
 improvements thereon; rights of way; water and  riparian  rights;  ease-
 ments;  privileges  and  all  other  rights  or interests of any land or
 description in, relating to or connected with real  property,  excluding
 buildings, structures, or improvements.
   (d) Public or private conservation agency. For purposes of this subdi-
 vision,  the  term  "public  or  private  conservation agency" means any
 state, local, or federal governmental body; or any private  not-for-pro-
 fit  charitable  corporation or trust which is authorized to do business
 in the state of New York, is organized and operated to protect land  for
 natural  resources,  conservation  or historic preservation purposes, is
 exempt from federal income  taxation  under  section  501(c)(3)  of  the
 internal  revenue  code, and has the power to acquire, hold and maintain
 land and/or interests in land for such purposes.
   (e) Credit limitation. The amount of the credit that may be claimed by
 a taxpayer pursuant to this subsection shall not  exceed  five  thousand
 dollars in any given year.
   (f)  Application of the credit. The credit allowed under this subdivi-
 sion for any taxable year shall not reduce the tax due for such year  to
 less than the fixed dollar minimum amount prescribed in paragraph (d) of
 subdivision  one of section two hundred ten of this article. However, if
 the amount of the credit allowed under this subdivision for any  taxable
 year  reduces  the  tax to such amount or if the taxpayer otherwise pays
 tax based on the fixed dollar minimum amount, any amount of  the  credit
 thus not deductible in such taxable year shall be treated as an overpay-
 ment of tax to be credited or refunded in accordance with the provisions
 of  subsection (c) of section one thousand eighty-eight of this chapter,
 except that, no interest shall be paid thereon.
   § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
 of  the  tax  law  is  amended by adding a new clause (xliii) to read as
 follows:
 
 (XLIII) CONSERVATION EASEMENT        AMOUNT OF CREDIT UNDER
 TAX CREDIT UNDER SUBSECTION (KK)     SUBDIVISION FORTY-NINE OF
                                      SECTION TWO HUNDRED TEN-B
   § 4. This act shall take effect immediately and shall be made applica-
 ble to taxable years commencing on and after January 1, 2018 and  there-
 after.

2017-S1695A (ACTIVE) - Details

See Assembly Version of this Bill:: A3309
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §§606 & 210-B, Tax L
Versions Introduced in Other Legislative Sessions:: 2009-2010: S866
2011-2012: S4088
2013-2014: S3631
2015-2016: S1921, A3920

2017-S1695A (ACTIVE) - Summary

Makes technical corrections to the conservation easement tax credit.

2017-S1695A (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S1695A

SPONSOR: MARCELLINO
 
TITLE OF BILL:

An act to amend the tax law, in relation to making technical corrections
to the conservation easement tax credit

 
PURPOSE:

To include village taxes in the calculation of the income tax credit
available to land owners that grant a conservation easement.

 
SUMMARY OF PROVISIONS:

Section 1 and 2 make technical corrections to Chapter 62 of the laws of
2006 to allow the income tax credit to be applied to all classifications
of land subject to the easement, including village taxes.

 
JUSTIFICATION:

Currently, an income tax credit is available to land owners that grant
conservation easement based on 25% of their property taxes up to $5,000.
This legislation will make a technical amendment to the current tax
credit to include village property taxes.

An income tax credit for real property taxes paid on land under a
conservation easement will help landowners bear the annual carrying
costs of land that provides multiple public benefits. This income tax
credit will have a large impact on those landowners who have modest
incomes and are unlikely to benefit significantly from existing tax
deductions. An income tax credit will provide them with an incentive to
make a gift to perpetually conserved land that they otherwise could not
afford to make.

 
LEGISLATIVE HISTORY:

2017: S.1695 Passed Senate / A. 3309 Ways and Means
2016: S.1921 Passed Senate
2015: S. 1921 Passed Senate / A. 3920 Ways and Means
2013-14: S. 3631-A Passed Senate / A. 4898-A Ways and Means
2011-12: S. 4088-A Passed Senate / A. 9653 Ways and Means
2009-10: S. 866 Investigations and Government Operations / A. 5876 Ways
and Means
2007-08: S. 4368-A Passed Senate /A. 7134-B Passed Assembly - 2008
Governor's Veto 9.

 
FISCAL IMPLICATIONS:

Minimal.

 
EFFECTIVE DATE:
This act shall take effect immediately and shall be made applicable to
taxable years commencing on and after January 1, 2019 and thereafter.

2017-S1695A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1695--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 10, 2017
                                ___________
 
 Introduced  by  Sen.  MARCELLINO  -- read twice and ordered printed, and
   when printed to be committed to the Committee  on  Investigations  and
   Government  Operations  --  recommitted  to  the Committee on Investi-
   gations 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 making technical corrections
   to the conservation easement tax credit
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph  1 of subsection (kk) of section 606 of the tax
 law, as added by section 1 of part F of chapter 62 of the laws of  2006,
 is amended to read as follows:
   (1)  Credit  allowed.  In the case of a taxpayer who owns land that is
 subject to a conservation easement held by a public or private conserva-
 tion agency, there shall be allowed a credit for twenty-five percent  of
 the  [allowable  school  district,  county and town] real property taxes
 PAID on [such] THE  land,  OR  PORTION  OF  THE  LAND,  SUBJECT  TO  THE
 EASEMENT.  In no event shall the credit allowed under this subsection in
 combination with any other credit for [such school district, county  and
 town] real property taxes under this section exceed such taxes.
   §  2.  Subdivision  22  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:
   22.  Conservation easement tax credit. (a) Credit allowed. In the case
 of a taxpayer who owns land that is subject to a  conservation  easement
 held  by a public or private conservation agency, there shall be allowed
 a credit for twenty-five percent  of  the  [allowable  school  district,
 county and town] real property taxes PAID on [such] THE land, OR PORTION
 OF  THE  LAND, SUBJECT TO THE EASEMENT. In no such case shall the credit
 allowed under this subdivision in combination with any other credit  for
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD02348-02-8

 S. 1695--A                          2
 
 [such  school  district, county and town] real property taxes under this
 section exceed such taxes.
   (b)  Conservation easement. For purposes of this subdivision, the term
 "conservation easement" means a  perpetual  and  permanent  conservation
 easement as defined in article forty-nine of the environmental conserva-
 tion  law  that serves to protect open space, scenic, natural resources,
 biodiversity,  agricultural,  watershed  and/or  historic   preservation
 resources.  Any  conservation easement for which a tax credit is claimed
 under this subdivision shall be filed with the  department  of  environ-
 mental  conservation, as provided for in article forty-nine of the envi-
 ronmental conservation law and such conservation easement  shall  comply
 with  the  provisions of title three of such article, and the provisions
 of subdivision (h) of section 170 of the internal  revenue  code.  Dedi-
 cations  of  land  for  open space through the execution of conservation
 easements for the purpose of fulfilling density requirements  to  obtain
 subdivision  or  building permits shall not be considered a conservation
 easement under this subdivision.
   (c) Land. For purposes of this subdivision, the term  "land"  means  a
 fee simple title to real property located in this state, with or without
 improvements  thereon;  rights  of way; water and riparian rights; ease-
 ments; privileges and all other rights  or  interests  of  any  land  or
 description  in,  relating to or connected with real property, excluding
 buildings, structures, or improvements.
   (d) Public or private conservation agency. For purposes of this subdi-
 vision, the term "public  or  private  conservation  agency"  means  any
 state,  local, or federal governmental body; or any private not-for-pro-
 fit charitable corporation or trust which is authorized to  do  business
 in  the state of New York, is organized and operated to protect land for
 natural resources, conservation or historic  preservation  purposes,  is
 exempt  from  federal  income  taxation  under  section 501(c)(3) of the
 internal revenue code, and has the power to acquire, hold  and  maintain
 land and/or interests in land for such purposes.
   (e) Credit limitation. The amount of the credit that may be claimed by
 a  taxpayer  pursuant  to this subsection shall not exceed five thousand
 dollars in any given year.
   (f) Application of the credit. The credit allowed under this  subdivi-
 sion  for any taxable year shall not reduce the tax due for such year to
 less than the fixed dollar minimum amount prescribed in paragraph (d) of
 subdivision one of section two hundred ten of this article. However,  if
 the  amount of the credit allowed under this subdivision for any taxable
 year reduces the tax to such amount or if the  taxpayer  otherwise  pays
 tax  based  on the fixed dollar minimum amount, any amount of the credit
 thus not deductible in such taxable year shall be treated as an overpay-
 ment of tax to be credited or refunded in accordance with the provisions
 of subsection (c) of section one thousand eighty-eight of this  chapter,
 except that, no interest shall be paid thereon.
   §  3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding a  new  clause  (xliv)  to  read  as
 follows:
 
 (XLIV) CONSERVATION EASEMENT         AMOUNT OF CREDIT UNDER
 TAX CREDIT UNDER SUBSECTION (KK)     SUBDIVISION TWENTY-TWO OF
                                      SECTION TWO HUNDRED TEN-B
   § 4. This act shall take effect immediately and shall be made applica-
 ble  to taxable years commencing on and after January 1, 2019 and there-
 after.

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Senate Bill S1695A

Sponsored By

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

Jun 15, 2017 - Floor Vote

Floor Vote: Jun 15, 2017

Jun 14, 2017 - Rules Committee Vote

Rules Committee Vote: Jun 14, 2017

Bill Amendments

2017-S1695 - Details

2017-S1695 - Summary

2017-S1695 - Sponsor Memo

2017-S1695 - Bill Text download pdf

2017-S1695A (ACTIVE) - Details

2017-S1695A (ACTIVE) - Summary

2017-S1695A (ACTIVE) - Sponsor Memo

2017-S1695A (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S1695A

Share this bill

Sponsored By

Carl L. Marcellino

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

Bill Amendments

2017-S1695 - Details

2017-S1695 - Summary

2017-S1695 - Sponsor Memo

2017-S1695 - Bill Text download pdf

2017-S1695A (ACTIVE) - Details

2017-S1695A (ACTIVE) - Summary

2017-S1695A (ACTIVE) - Sponsor Memo

2017-S1695A (ACTIVE) - Bill Text download pdf

Comments