senate Bill S4718

2019-2020 Legislative Session

Relates to establishing a mollusk shell recycling tax credit

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Budget And Revenue 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 (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to budget and revenue
Oct 28, 2019 print number 4718a
Oct 28, 2019 amend (t) and recommit to budget and revenue
Mar 21, 2019 referred to budget and revenue

Co-Sponsors

S4718 - Details

Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L; amd §3-0301, En Con L

S4718 - Summary

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

S4718 - Sponsor Memo

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

S4718A (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L; amd §3-0301, En Con L

S4718A (ACTIVE) - Summary

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

S4718A (ACTIVE) - Sponsor Memo

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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