Senate Bill S4718

2019-2020 Legislative Session

Relates to establishing a mollusk shell recycling tax credit

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Sponsored By

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

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Bill Amendments

co-Sponsors

2019-S4718 - Details

Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L; amd §3-0301, En Con L
Versions Introduced in Other Legislative Sessions:
2021-2022: S4741
2023-2024: S8436

2019-S4718 - Summary

Establishes a mollusk shell recycling tax credit and directs DEC to promulgate necessary regulations.

2019-S4718 - Sponsor Memo

2019-S4718 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4718
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              March 21, 2019
                                ___________
 
 Introduced  by  Sen. METZGER -- 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 and the environmental conservation  law,  in
   relation to establishing an oyster shell recycling 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. OYSTER SHELL RECYCLING CREDIT. A TAXPAYER SHALL BE ALLOWED A CRED-
 IT,  TO  BE  COMPUTED AS HEREINAFTER PROVIDED AGAINST THE TAX IMPOSED BY
 THIS ARTICLE, FOR THE RECYCLING OF OYSTER  SHELLS.  THE  AMOUNT  OF  THE
 CREDIT  SHALL BE THE LESSER OF ONE THOUSAND DOLLARS, OR TEN CENTS MULTI-
 PLIED BY THE NUMBER OF POUNDS OF OYSTER SHELLS CERTIFIED BY THE NEW YORK
 STATE DEPARTMENT OF ENVIRONMENTAL CONSERVATION. THE CREDIT ALLOWED UNDER
 THIS SUBDIVISION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX  DUE  FOR
 SUCH  YEAR  TO  LESS  THAN THE FIXED DOLLAR MINIMUM AMOUNT PRESCRIBED IN
 PARAGRAPH (D) OF SUBDIVISION ONE OF SECTION  TWO  HUNDRED  TEN  OF  THIS
 ARTICLE.
   §  2. Section 606 of the tax law is amended by adding a new subsection
 (jjj) to read as follows:
   (JJJ) OYSTER SHELL RECYCLING CREDIT. (1) A TAXPAYER SHALL BE ALLOWED A
 CREDIT, TO BE COMPUTED AS HEREINAFTER PROVIDED AGAINST THE  TAX  IMPOSED
 BY THIS ARTICLE, FOR THE RECYCLING OF OYSTER SHELLS.
   (2)  THE  AMOUNT  OF  THE  CREDIT  SHALL BE THE LESSER OF ONE THOUSAND
 DOLLARS, OR TEN CENTS MULTIPLIED BY  THE  NUMBER  OF  POUNDS  OF  OYSTER
 SHELLS  CERTIFIED  BY  THE  NEW  YORK  STATE DEPARTMENT OF ENVIRONMENTAL
 CONSERVATION.
   § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
 of  the  tax  law  is  amended  by adding a new clause (xliv) to read as
 follows:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00526-01-9
              

co-Sponsors

2019-S4718A (ACTIVE) - Details

Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L; amd §3-0301, En Con L
Versions Introduced in Other Legislative Sessions:
2021-2022: S4741
2023-2024: S8436

2019-S4718A (ACTIVE) - Summary

Establishes a mollusk shell recycling tax credit and directs DEC to promulgate necessary regulations.

2019-S4718A (ACTIVE) - Sponsor Memo

2019-S4718A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4718--A
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              March 21, 2019
                                ___________
 
 Introduced  by  Sens.  METZGER,  BIAGGI, GOUNARDES, MONTGOMERY, MYRIE --
   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  commit-
   tee

 AN  ACT  to amend the tax law and the environmental conservation law, in
   relation to establishing a bivalve mollusk shell recycling 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 54 to read as follows:
   54. BIVALVE MOLLUSK  SHELL  RECYCLING  CREDIT.  A  TAXPAYER  SHALL  BE
 ALLOWED A CREDIT, TO BE COMPUTED AS HEREINAFTER PROVIDED AGAINST THE TAX
 IMPOSED  BY  THIS  ARTICLE, FOR THE RECYCLING OF BIVALVE MOLLUSK SHELLS.
 THE AMOUNT OF THE CREDIT SHALL BE THE LESSER OF ONE THOUSAND DOLLARS, OR
 TEN CENTS MULTIPLIED BY THE NUMBER OF POUNDS OF MOLLUSK SHELLS CERTIFIED
 BY THE NEW YORK STATE  DEPARTMENT  OF  ENVIRONMENTAL  CONSERVATION.  THE
 CREDIT  ALLOWED  UNDER  THIS  SUBDIVISION FOR ANY TAXABLE YEAR SHALL NOT
 REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE FIXED  DOLLAR  MINIMUM
 AMOUNT  PRESCRIBED  IN  PARAGRAPH  (D) OF SUBDIVISION ONE OF SECTION TWO
 HUNDRED TEN OF THIS ARTICLE. IN ORDER FOR A TAXPAYER TO QUALIFY FOR THIS
 CREDIT, THE SHELLS SHALL BE DONATED TO AN ENTITY OR ORGANIZATION PERMIT-
 TED BY THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION TO REUSE SUCH SHELLS
 FOR THE BENEFICIAL USE OF OYSTER REEF RESTORATION.
   § 2. Section 606 of the tax law is amended by adding a new  subsection
 (kkk) to read as follows:
   (KKK)  BIVALVE MOLLUSK SHELL RECYCLING CREDIT. (1) A TAXPAYER SHALL BE
 ALLOWED A CREDIT, TO BE COMPUTED AS HEREINAFTER PROVIDED AGAINST THE TAX
 IMPOSED BY THIS ARTICLE, FOR THE RECYCLING OF BIVALVE MOLLUSK SHELLS.
   (2) THE AMOUNT OF THE CREDIT SHALL  BE  THE  LESSER  OF  ONE  THOUSAND
 DOLLARS,  OR  TEN  CENTS  MULTIPLIED  BY THE NUMBER OF POUNDS OF BIVALVE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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