Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 18, 2018 |
signed chap.14 |
Apr 06, 2018 |
delivered to governor |
Feb 05, 2018 |
returned to senate passed assembly ordered to third reading cal.634 substituted for a9038 |
Jan 08, 2018 |
referred to ways and means delivered to assembly passed senate ordered to third reading cal.15 |
Jan 05, 2018 |
referred to rules |
Senate Bill S7287
Signed By Governor2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - Signed by Governor
- 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
Actions
Votes
2017-S7287 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9038
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L; amd §2, Chap of 2017 (as proposed in S. 2889 and A. 4650)
2017-S7287 (ACTIVE) - Summary
Expands property tax credits for farmers to include a trustee or a trust established by the taxpayer and rented to a member of the taxpayer's immediate family where, under the terms of the trust, the title to the property shall pass to such family member upon the death of the taxpayer.
2017-S7287 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7287 SPONSOR: RITCHIE TITLE OF BILL: An act to amend the tax law and a chapter of the laws of 2017, amending the tax law relating to property tax credits for farm- ers, as proposed in legislative bills numbers S. 2899 and A. 4650, in relation to property tax credits for farmers PURPOSE: This bill would make a technical amendment to the tax code to allow for tenant farmers who rent land from a trust to claim the Farmer's School Tax Credit. SUMMARY OF PROVISIONS: Section one amends section 606 (n) (3) of the Tax Law, to allow tenant farmers who are renting land from a trust, to claim the Farmer's School Tax Credit. Section 2 sets forth an immediate effective date.
2017-S7287 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7287 I N S E N A T E January 5, 2018 ___________ Introduced by Sen. RITCHIE -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the tax law and a chapter of the laws of 2017, amending the tax law relating to property tax credits for farmers, as proposed in legislative bills numbers S. 2899 and A. 4650, in relation to prop- erty tax credits for farmers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3 of subsection (n) of section 606 of the tax law, as amended by a chapter of the laws of 2017, amending the tax law relating to property tax credits for farmers, as proposed in legislative bills numbers S. 2899 and A. 4650, is amended to read as follows: (3) School district property taxes. For purposes of this subsection, the term "school district property taxes" means all property taxes, special ad valorem levies and special assessments, exclusive of penal- ties and interest, levied for school district purposes on the qualified agricultural property (A) owned by the taxpayer, (B) owned by the father, mother, grandfather, grandmother, brother or sister of the taxpayer and a written agreement expressing intent to eventually purchase the land has been entered into, or (C) owned by trust [to which] WHERE the taxpayer is [a beneficiary] AN IMMEDIATE FAMILY MEMBER OF THE SETTLOR, AND WHERE UNDER THE TERMS OF THE TRUST THE TITLE TO THE PROPERTY SHALL PASS TO SUCH TAXPAYER UPON THE DEATH OF THE SETTLOR. § 2. Section 2 of a chapter of the laws of 2017, amending the tax law relating to property tax credits for farmers, as proposed in legislative bills numbers S. 2899 and A. 4650, is amended to read as follows: § 2. This act shall take effect immediately AND SHALL APPLY TO TAXABLE YEARS BEGINNING ON OR AFTER JANUARY 1, 2018. § 3. This act shall take effect immediately, provided that section one of this act shall take effect on the same date and in the same manner as a chapter of the laws of 2017, amending the tax law relating to property tax credits for farmers, as proposed in legislative bills numbers S. 2899 and A. 4650, takes effect. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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