senate Bill S2290

2021-2022 Legislative Session

Provides a tax credit for the purchase of on-farm anaerobic digesters or other farm-related equipment that is used in the process of turning farm waste into methane for commercial use

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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 05, 2022 referred to budget and revenue
Jan 20, 2021 referred to budget and revenue

S2290 (ACTIVE) - Details

See Assembly Version of this Bill:
A6749
Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Add §§28-a & 187-q, amd §§210-B & 606, Tax L
Versions Introduced in 2019-2020 Legislative Session:
S7103

S2290 (ACTIVE) - Summary

Provides a tax credit for the purchase of on-farm anaerobic digesters or other farm-related equipment that is used in the process of turning farm waste into methane for commercial use.

S2290 (ACTIVE) - Sponsor Memo

S2290 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2290
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 20, 2021
                                ___________
 
 Introduced  by  Sen.  JORDAN -- 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, in relation to providing a tax  credit  for
   the  purchase  of  on-farm  anaerobic  digesters or other farm-related
   equipment that is used in the process of turning farm waste into meth-
   ane for commercial use
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The tax law is amended by adding two new sections 28-a and
 187-q to read as follows:
   § 28-A. METHANE PRODUCTION EQUIPMENT CREDIT. (A) GENERAL.  A  TAXPAYER
 SUBJECT  TO TAX UNDER ARTICLE NINE, NINE-A OR TWENTY-TWO OF THIS CHAPTER
 SHALL BE ALLOWED A ONE-TIME CREDIT AGAINST  SUCH  TAX  PURSUANT  TO  THE
 PROVISIONS REFERENCED IN SUBDIVISION (B) OF THIS SECTION. THE CREDIT (OR
 PRO  RATA  SHARE  OF  THE  CREDIT  IN THE CASE OF A PARTNERSHIP) FOR THE
 PURCHASE AND IMPLEMENTATION AT A FARM  LOCATED  IN  NEW  YORK  STATE  OF
 ON-FARM ANAEROBIC DIGESTERS OR OTHER FARM-RELATED EQUIPMENT THAT IS USED
 IN THE PROCESS OF TURNING FARM WASTE INTO METHANE FOR USE BY THE TAXPAY-
 ER  OR  OTHER COMMERCIAL USE SHALL BE THE FULL-VALUE OF THE EQUIPMENT AT
 THE TIME OF PURCHASE. THE TAX CREDIT ALLOWED PURSUANT  TO  THIS  SECTION
 SHALL  APPLY  TO TAXABLE YEARS BEGINNING ON AND AFTER JANUARY FIRST, TWO
 THOUSAND TWENTY-TWO.
   (B) CROSS-REFERENCES. FOR APPLICATION OF THE CREDIT  PROVIDED  FOR  IN
 THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
   (1) ARTICLE 9: SECTION 187-Q.
   (2) ARTICLE 9-A: SECTION 210-B, SUBDIVISION 28.
   (3) ARTICLE 22: SECTION 606, SUBSECTIONS (I) AND (KKK).
   §  187-Q.  METHANE  PRODUCTION  EQUIPMENT  CREDIT. A TAXPAYER SHALL BE
 ALLOWED A CREDIT TO BE COMPUTED AS PROVIDED IN SECTION TWENTY-EIGHT-A OF
 THIS CHAPTER AGAINST THE TAX IMPOSED BY THIS ARTICLE. PROVIDED, HOWEVER,
 THAT THE AMOUNT OF SUCH  CREDIT  ALLOWED  AGAINST  THE  TAX  IMPOSED  BY
 SECTION  ONE  HUNDRED EIGHTY-FOUR OF THIS ARTICLE SHALL BE THE EXCESS OF
 THE AMOUNT OF SUCH CREDIT OVER THE AMOUNT OF ANY CREDIT ALLOWED BY  THIS
 SECTION  AGAINST  THE TAX IMPOSED BY SECTION ONE HUNDRED EIGHTY-THREE OF

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.