Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Jan 06, 2021 | referred to ways and means |
Current Bill Status - In Assembly Committee
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
Your Voice
Actions
Co-Sponsors
Kenneth Zebrowski
Patricia Fahy
Jose Rivera
Jo Anne Simon
Multi-Sponsors
Michael J. Fitzpatrick
Yuh-Line Niou
A258 (ACTIVE) - Details
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.