senate Bill S4875

2019-2020 Legislative Session

Relates to establishing a carbon farming tax credit for farmers

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Agriculture Committee


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to agriculture
Mar 28, 2019 referred to agriculture

Co-Sponsors

S4875 (ACTIVE) - Details

Current Committee:
Senate Agriculture
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
Versions Introduced in 2021-2022 Legislative Session:
S4707

S4875 (ACTIVE) - 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.

S4875 (ACTIVE) - Sponsor Memo

S4875 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4875
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              March 28, 2019
                                ___________
 
 Introduced  by  Sen. METZGER -- read twice and ordered printed, and when
   printed to be committed to the Committee 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".
   § 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.
   §  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.
                                                            LBD00468-02-9

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