Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 10, 2021 |
signed chap.672 |
Nov 29, 2021 |
delivered to governor |
Jun 08, 2021 |
returned to senate passed assembly ordered to third reading rules cal.595 substituted for a6947 |
Jun 08, 2021 |
substituted by s6042 rules report cal.595 reported |
Jun 07, 2021 |
reported referred to rules |
Apr 14, 2021 |
referred to ways and means |
Assembly Bill A6947
Signed By Governor2021-2022 Legislative Session
Sponsored By
BARRETT
Archive: Last Bill Status Via S6042 - Signed by Governor
- 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
Actions
Votes
co-Sponsors
Donna Lupardo
Patricia Fahy
Michael J. Norris
2021-A6947 (ACTIVE) - Details
- See Senate Version of this Bill:
- S6042
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L; amd §483-b, RPT L
2021-A6947 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6947 2021-2022 Regular Sessions I N A S S E M B L Y April 14, 2021 ___________ Introduced by M. of A. BARRETT -- read once and referred to the Commit- tee on Ways and Means AN ACT to amend the tax law and the real property tax law, in relation to a tax credit and tax exemption for the rehabilitation of historic barns THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 12 of subsection (a) of section 606 of the tax law, as added by chapter 309 of the laws of 1996, is amended to read as follows: (12) Rehabilitation credit for historic barns. A taxpayer shall be allowed a credit, to be computed as hereinafter provided, against the tax imposed by this article. The amount of the credit shall be twenty- five percent of the taxpayer's qualified rehabilitation expenditures[, as defined in paragraph two of subsection (c) of section forty-seven of the internal revenue code, which qualify as the basis for the credit provided for under paragraph one of subsection (b) of section thirty- eight of such code by reason of subsection one of section forty-six of such code,] paid or incurred WITHIN THE FIVE YEARS IMMEDIATELY PRECEDING THE YEAR IN WHICH SUCH TAX CREDIT SHALL BE APPLIED with respect to any barn located in this state which [is a qualified rehabilitated building, as such term is defined in paragraph one of subsection (c) of such section forty-seven] QUALIFIES AS AN HISTORIC BARN PURSUANT TO SUBDIVI- SION FIVE OF SECTION FOUR HUNDRED EIGHTY-THREE-B OF THE REAL PROPERTY TAX LAW. For purposes of this paragraph, the term "barn" means a build- ing [originally designed and used for storing farm equipment or agricul- tural products, or for housing livestock] THAT IS OR WAS USED AS AN AGRICULTURAL FACILITY OR FOR PURPOSES RELATED TO AGRICULTURE. Provided, however, such qualified rehabilitation expenditures shall not include any such expenditures which are included, directly or indirectly, in the computation of a credit claimed by the taxpayer pursuant to paragraph EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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