Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 07, 2018 |
referred to rules |
Senate Bill S8957
2017-2018 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Rules 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
Actions
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) - Sponsor Memo
BILL NUMBER: S8957 SPONSOR: MONTGOMERY TITLE OF BILL: An act to amend the tax law, in relation to establish- ing the buy New York produce tax credit PURPOSE: To create a buy New York produce tax credit for New York food service establishments SUMMARY OF PROVISIONS: 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 tax credit. A taxpayer shall be allowed a credit against the tax imposed by this arti- cle 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.
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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