Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2020 |
print number 3645b |
Jan 08, 2020 |
amend and recommit to budget and revenue referred to budget and revenue returned to senate died in assembly |
Jun 18, 2019 |
referred to ways and means delivered to assembly passed senate |
Jun 12, 2019 |
ordered to third reading cal.1298 committee discharged and committed to rules |
Jun 05, 2019 |
print number 3645a |
Jun 05, 2019 |
amend and recommit to budget and revenue |
Feb 11, 2019 |
referred to budget and revenue |
Senate Bill S3645A
2019-2020 Legislative Session
Sponsored By
(D, WF) 63rd Senate District
Archive: Last Bill Status - In Senate Committee Budget And Revenue 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
Votes
Bill Amendments
co-Sponsors
(D, WF) Senate District
(D, WF) 29th Senate District
2019-S3645 - Details
- Current Committee:
- Senate Budget And Revenue
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§606, 210-B & 1511, Tax L
- Versions Introduced in 2021-2022 Legislative Session:
-
S4439
2019-S3645 - Sponsor Memo
BILL NUMBER: S3645 SPONSOR: KENNEDY TITLE OF BILL: An act to amend the tax law, in relation to the reha- bilitation of historic properties tax credit PURPOSE: The purpose of this bill is to strengthen the tax credit for the reha- bilitations of historic properties SUMMARY OF PROVISIONS: Section 1 establishes that a taxpayer shall be allowed a credit against the tax imposed by this article in an amount equal to one hundred ten percent of the amount of credit with respect to a certified historic structure that is a small project; and establishes that a taxpayer is permitted to transfer such credit, in whole or in part, to any individ- ual or entity, without the requirement of transferring any ownership interest. This section also defines a small project as a qualified reha- bilitation project with expenditures totaling five million dollars or
2019-S3645 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3645 2019-2020 Regular Sessions I N S E N A T E February 11, 2019 ___________ Introduced by Sen. KENNEDY -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to the rehabilitation of historic properties tax credit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (A) of paragraph 1 of subsection (oo) of section 606 of the tax law, as amended by section 1 of part RR of chap- ter 59 of the laws of 2018, is amended and two new paragraphs 6 and 7 are added to read as follows: (A) For taxable years beginning on or after January first, two thou- sand ten and before January first, two thousand twenty-five, a taxpayer shall be allowed a credit as hereinafter provided, against the tax imposed by this article, in an amount equal to one hundred percent of the amount of credit allowed the taxpayer with respect to a certified historic structure, AND ONE HUNDRED TEN PERCENT OF THE AMOUNT OF CREDIT ALLOWED THE TAXPAYER WITH RESPECT TO A CERTIFIED HISTORIC STRUCTURE THAT IS A SMALL PROJECT, under internal revenue code section 47(c)(3), deter- mined without regard to ratably allocating the credit over a five year period as required by subsection (a) of such section 47, with respect to a certified historic structure located within the state. Provided, however, the credit shall not exceed five million dollars. For taxable years beginning on or after January first, two thousand twenty-five, a taxpayer shall be allowed a credit as hereinafter provided, against the tax imposed by this article, in an amount equal to thirty percent of the amount of credit allowed the taxpayer with respect to a certified historic structure under internal revenue code section 47(c)(3), deter- mined without regard to ratably allocating the credit over a five year period as required by subsection (a) of such section 47, with respect to a certified historic structure located within the state; provided, however, the credit shall not exceed one hundred thousand dollars. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
co-Sponsors
(D, IP, WF) Senate District
(D, WF) Senate District
(D, WF) 29th Senate District
2019-S3645A - Details
- Current Committee:
- Senate Budget And Revenue
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§606, 210-B & 1511, Tax L
- Versions Introduced in 2021-2022 Legislative Session:
-
S4439
2019-S3645A - Sponsor Memo
BILL NUMBER: S3645A SPONSOR: KENNEDY TITLE OF BILL: An act to amend the tax law, in relation to the reha- bilitation of historic properties tax credit PURPOSE: The purpose of this bill is to strengthen the tax credit for the reha- bilitations of historic properties SUMMARY OF PROVISIONS: Section 1 amends section 606 of the tax law and establishes that a taxpayer shall be allowed a credit against the tax imposed by this arti- cle in an amount equal to one hundred ten percent of the amount of cred- it with respect to a certified historic structure, and one hundred ten percent of the amount of credit allowed the taxpayer with respect to a certified historic structure that is a small project. It also establishes that a taxpayer is permitted to transfer such cred-
2019-S3645A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3645--A 2019-2020 Regular Sessions I N S E N A T E February 11, 2019 ___________ Introduced by Sens. KENNEDY, METZGER, SERRANO -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to the rehabilitation of historic properties tax credit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (A) of paragraph 1 of subsection (oo) of section 606 of the tax law, as amended by section 1 of part RR of chap- ter 59 of the laws of 2018, is amended and two new paragraphs 6 and 7 are added to read as follows: (A) For taxable years beginning on or after January first, two thou- sand ten and before January first, two thousand twenty-five, a taxpayer shall be allowed a credit as hereinafter provided, against the tax imposed by this article, in an amount equal to one hundred percent of the amount of credit allowed the taxpayer with respect to a certified historic structure, AND ONE HUNDRED TEN PERCENT OF THE AMOUNT OF CREDIT ALLOWED THE TAXPAYER WITH RESPECT TO A CERTIFIED HISTORIC STRUCTURE THAT IS A SMALL PROJECT, under internal revenue code section 47(c)(3), deter- mined without regard to ratably allocating the credit over a five year period as required by subsection (a) of such section 47, with respect to a certified historic structure located within the state. Provided, however, the credit shall not exceed five million dollars. For taxable years beginning on or after January first, two thousand twenty-five, a taxpayer shall be allowed a credit as hereinafter provided, against the tax imposed by this article, in an amount equal to thirty percent of the amount of credit allowed the taxpayer with respect to a certified historic structure under internal revenue code section 47(c)(3), deter- mined without regard to ratably allocating the credit over a five year period as required by subsection (a) of such section 47, with respect to EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
co-Sponsors
(D, WF) 46th Senate District
(D, IP, WF) Senate District
(D, WF) Senate District
(D, WF) 29th Senate District
2019-S3645B (ACTIVE) - Details
- Current Committee:
- Senate Budget And Revenue
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§606, 210-B & 1511, Tax L
- Versions Introduced in 2021-2022 Legislative Session:
-
S4439
2019-S3645B (ACTIVE) - Sponsor Memo
BILL NUMBER: S3645B SPONSOR: KENNEDY TITLE OF BILL: An act to amend the tax law, in relation to the rehabilitation of historic properties tax credit PURPOSE: The purpose of this bill is to strengthen the tax credit for the reha- bilitations of historic properties SUMMARY OF PROVISIONS: Section 1 establishes that a taxpayer shall be allowed a credit against the tax imposed by this article in an amount equal to one hundred fifty percent of the amount of credit with respect to a certified historic structure that is a small project. This section defines a small project as a qualified rehabilitation project with expenditures totaling five million dollars or less.
2019-S3645B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3645--B 2019-2020 Regular Sessions I N S E N A T E February 11, 2019 ___________ Introduced by Sens. KENNEDY, KAPLAN, METZGER, SERRANO -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- recommitted to the Committee on Budget and Revenue in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to the rehabilitation of historic properties tax credit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (A) of paragraph 1 of subsection (oo) of section 606 of the tax law, as amended by section 1 of part RR of chap- ter 59 of the laws of 2018, is amended and a new paragraph 6 is added to read as follows: (A) For taxable years beginning on or after January first, two thou- sand ten and before January first, two thousand twenty-five, a taxpayer shall be allowed a credit as hereinafter provided, against the tax imposed by this article, in an amount equal to one hundred percent of the amount of credit allowed the taxpayer with respect to a certified historic structure, AND ONE HUNDRED FIFTY PERCENT OF THE AMOUNT OF CRED- IT ALLOWED THE TAXPAYER WITH RESPECT TO A CERTIFIED HISTORIC STRUCTURE THAT IS A SMALL PROJECT, under internal revenue code section 47(c)(3), determined without regard to ratably allocating the credit over a five year period as required by subsection (a) of such section 47, with respect to a certified historic structure located within the state. Provided, however, the credit shall not exceed five million dollars. For taxable years beginning on or after January first, two thousand twenty- five, a taxpayer shall be allowed a credit as hereinafter provided, against the tax imposed by this article, in an amount equal to thirty percent of the amount of credit allowed the taxpayer with respect to a certified historic structure under internal revenue code section 47(c)(3), determined without regard to ratably allocating the credit over a five year period as required by subsection (a) of such section
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.