Senate Bill S1939

2019-2020 Legislative Session

Establishes a forestry stewardship and habitat conservation credit for personal income and business franchise taxes

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Sponsored By

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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2019-S1939 (ACTIVE) - Details

See Assembly Version of this Bill:
A2296
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: S326, A563
2011-2012: S346, A152
2013-2014: S1005, A4512
2015-2016: S602, A3377, A8178
2017-2018: S138, A1874
2021-2022: S5181, A787
2023-2024: S31, A161

2019-S1939 (ACTIVE) - Summary

Establishes a forestry stewardship and habitat conservation credit for personal income and business franchise taxes.

2019-S1939 (ACTIVE) - Sponsor Memo

2019-S1939 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1939
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 17, 2019
                                ___________
 
 Introduced  by  Sens.  LITTLE, AKSHAR, GALLIVAN, HOYLMAN, SEWARD -- 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 establishing a forestry
   stewardship and habitat conservation credit for  personal  income  and
   business franchise taxes
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
 subsection (jjj) to read as follows:
   (JJJ) FORESTRY STEWARDSHIP AND HABITAT CONSERVATION CREDIT. (1) IN THE
 CASE  OF  A TAXPAYER WHO OWNS LAND THAT IS SUBJECT  TO AN AGREEMENT WITH
 THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION,  BY  WHICH  SUCH  LAND  IS
 COMMITTED  TO  FORESTRY  STEWARDSHIP,  OR HABITAT CONSERVATION, OR BOTH,
 THERE SHALL BE ALLOWED A CREDIT FOR  TWENTY-FIVE  PERCENT  OF  THE  REAL
 PROPERTY  TAXES  PAID ON SUCH LAND. IN NO EVENT SHALL THE CREDIT ALLOWED
 UNDER THIS SUBSECTION IN COMBINATION WITH ANY OTHER CREDIT FOR SUCH REAL
 PROPERTY TAXES UNDER THIS SECTION EXCEED THE TOTAL AMOUNT OF SUCH  TAXES
 PAID DURING THE TAXABLE YEAR.
   (2) FOR THE PURPOSES OF THIS SUBSECTION:
   (A)  "ELIGIBLE  TRACT"  SHALL MEAN A TRACT OF LAND OF AT LEAST TWENTY-
 FIVE CONTIGUOUS ACRES THAT HAS BEEN INSPECTED BY THE DEPARTMENT OF ENVI-
 RONMENTAL CONSERVATION, A WILDLIFE BIOLOGIST CERTIFIED BY  THE  WILDLIFE
 SOCIETY,  OR  A  FISHERIES BIOLOGIST CERTIFIED BY THE AMERICAN FISHERIES
 SOCIETY, AND BASED ON SUCH INSPECTION IS DETERMINED BY THE DEPARTMENT OF
 ENVIRONMENTAL CONSERVATION TO BE: VALUABLE HABITAT FOR  WILDLIFE,  FISH,
 SHELLFISH OR CRUSTACEA; OR SAFE AND SUITABLE FOR FISH OR WILDLIFE-RELAT-
 ED  RECREATION, INCLUDING FISHING, HUNTING, TRAPPING AND WILDLIFE OBSER-
 VATION; OR BOTH. LAND DIVIDED ONLY BY FEDERAL,  STATE,  COUNTY  OR  TOWN
 ROADS,  EASEMENTS  OR RIGHTS-OF-WAY, OR ENERGY TRANSMISSION CORRIDORS OR
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01211-01-9
              

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