The New York State Senate

 
                     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.

                                                            LBD00427-01-1

 A. 258                              2
 
   (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
 MOLLUSK  SHELLS  CERTIFIED  BY THE NEW YORK STATE DEPARTMENT OF ENVIRON-
 MENTAL CONSERVATION.
   (3)  IN  ORDER  FOR  A TAXPAYER TO QUALIFY FOR THIS CREDIT, THE SHELLS
 SHALL BE DONATED TO AN ENTITY OR ORGANIZATION PERMITTED BY  THE  DEPART-
 MENT  OF ENVIRONMENTAL CONSERVATION TO REUSE SUCH SHELLS FOR THE BENEFI-
 CIAL USE OF OYSTER REEF RESTORATION.
   § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
 of  the  tax  law  is  amended  by adding a new clause (xlvi) to read as
 follows:
 (XLVI) BIVALVE MOLLUSK               AMOUNT OF CREDIT UNDER SUBDIVISION
 SHELL RECYCLING CREDIT UNDER         FIFTY-FIVE OF SECTION TWO
 SUBSECTION (KKK)                     HUNDRED TEN-B
   § 4. Subdivision 1 of section 3-0301 of the environmental conservation
 law is amended by adding a new paragraph ee to read as follows:
   EE. ESTABLISH RULES AND REGULATIONS  REGARDING  THE  VERIFICATION  AND
 CERTIFICATION  OF  BIVALVE MOLLUSK SHELLS RETURNED TO THE DEPARTMENT FOR
 RECYCLING PURSUANT TO THE BIVALVE MOLLUSK  SHELL  RECYCLING  TAX  CREDIT
 PROVIDED  IN  SECTIONS  TWO HUNDRED TEN-B AND SIX HUNDRED SIX OF THE TAX
 LAW AND FOR SUCH SHELLS TO BE REUSED  IN  THE  PROCESS  OF  OYSTER  REEF
 RESTORATION.
   § 5. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2022.