assembly Bill A258

2021-2022 Legislative Session

Relates to establishing a mollusk shell recycling tax credit

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Sponsored By

Current Bill Status - In Assembly Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 06, 2021 referred to ways and means

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A258 (ACTIVE) - Details

See Senate Version of this Bill:
S4741
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L; amd §3-0301, En Con L
Versions Introduced in Other Legislative Sessions:
2017-2018: A584
2019-2020: A655, S4718

A258 (ACTIVE) - Summary

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

A258 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    258
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by M. of A. L. ROSENTHAL, ZEBROWSKI, FAHY, J. RIVERA, SIMON,
   GLICK, ENGLEBRIGHT, THIELE, WEPRIN, JACOBSON, STIRPE, FERNANDEZ, BENE-
   DETTO, CARROLL, EPSTEIN, COLTON -- Multi-Sponsored  by  --  M.  of  A.
   FITZPATRICK,  NIOU  -- read once and referred to the Committee on Ways
   and Means
 
 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 55 to read as follows:
   55.  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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.