NY State Senate Bill 2019-S927

Senate Bill S927

2019-2020 Legislative Session

Establishes a personal income tax credit for the cost of replacing concord grapevines by farmers

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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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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 09, 2019	referred to investigations and government operations

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2019-S927 (ACTIVE) - Details

Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:: 2009-2010: S2487
2011-2012: S776
2013-2014: S2682
2015-2016: S3074
2017-2018: S455

2019-S927 (ACTIVE) - Summary

Establishes a personal income tax credit for taxpayers whose federal gross income from farming is at least two-thirds of excess federal gross income, for the cost of replacing concord grapevines by such farmers.

2019-S927 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S927

SPONSOR: YOUNG
 
TITLE OF BILL:

An act to amend the tax law, in relation to establishing a grapevine
replacement personal income tax credit

 
PURPOSE:

This bill establishes a refundable personal income tax credit to farmers
for the cost of replacing Concord grapevines with a new grape variety.

 
SUMMARY OF PROVISIONS:

Section 606 of the Tax Law is amended to allow for a refundable personal
income tax credit to farmers for the cost of grapevines that are replac-
ing existing Concord grapevines, provided that the new grapevines are
not of any Concord variety.

JUSTIFICATION:

This legislation was created to encourage the planting of new grape
varieties in response to New York's evolving grape and wine market.
Many New York grape producers have built their businesses on the native
Concord grape which is used in juices; jellies and other food products.
Concord grape growers are currently experiencing a severe glut in
national grape juice concentrate markets, due to overproduction in Cali-
fornia, and are seeking innovative ways to continue farming. With a
growing interest and national demand for New York wines, grape growers
are turning to vinifera grapes and other high-quality hybrid varieties
which offer consistent fruit quality and production. This legislation
provides an incentive for farmers to pursue this costly but worthwhile
investment to help diversify grape acreage and remain competitive in the
global marketplace.

 
LEGISLATIVE HISTORY:

2018: S.455-A Referred to Investigations and Government Operations
2017: S.455 Referred to Investigations and Government Operations
2016: S.3074-A Referred to Investigations and Government Operations
2015: S.3074 Referred to Investigations and Government Operations
2013, 2014: 5.2682-A Referred to Investigations and Government Oper-
ations
2011, 2012: S.776 Referred to Investigations and Government Operations
2009, 2010: S.2487 Referred to Investigations and Government Operations
2007, 2008: S.2774/A.5374 Referred to Investigations and Government
Operations
2006: S.7235/A.11539 Referred to Investigations and Government Oper-
ations

 
FISCAL IMPLICATIONS:

Undetermined at this time.

 
EFFECTIVE DATE:
Effective immediately.

2019-S927 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    927
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              January 9, 2019
                                ___________
 
 Introduced  by Sens. YOUNG, FUNKE, RANZENHOFER -- read twice and ordered
   printed, and when printed to be committed to the Committee on Investi-
   gations and Government Operations
 
 AN ACT to amend the tax law, in relation  to  establishing  a  grapevine
   replacement personal income tax credit

   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)  GRAPEVINE  REPLACEMENT  TAX CREDIT. (1) ALLOWANCE OF CREDIT.  A
 TAXPAYER WHOSE FEDERAL GROSS INCOME FROM FARMING FOR THE TAXABLE YEAR IS
 AT LEAST TWO-THIRDS OF EXCESS FEDERAL GROSS INCOME SHALL  BE  ALLOWED  A
 CREDIT  AGAINST  THE  TAX IMPOSED BY THIS ARTICLE FOR THE REPLACEMENT OF
 GRAPEVINES OF ANY CONCORD VARIETY FOR  TAXABLE  YEARS  BEGINNING  ON  OR
 AFTER  JANUARY  FIRST,  TWO  THOUSAND NINETEEN. THE AMOUNT OF THE CREDIT
 SHALL BE EQUAL TO THE SUM OF THE COST OF GRAPEVINES THAT  ARE  PURCHASED
 AND PLANTED FOR THE PURPOSE OF REPLACING GRAPEVINES OF ANY CONCORD VARI-
 ETY.  THIS CREDIT SHALL NOT APPLY TO GRAPEVINES OF ANY CONCORD VARIETY.
   (2)  APPLICATION  OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWED UNDER
 THIS SUBSECTION FOR ANY TAXABLE YEARS SHALL EXCEED  THE  TAXPAYER'S  TAX
 FOR  SUCH  YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO
 BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION SIX
 HUNDRED EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO  INTEREST
 SHALL BE PAID THEREON.
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03025-01-9

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Senate Bill S927

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Sponsored By

Catharine Young