senate Bill S4707

2021-2022 Legislative Session

Relates to establishing a carbon farming tax credit for farmers

download bill text pdf

Sponsored By

Current Bill Status - Passed Senate


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

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Actions

view actions (8)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 04, 2021 referred to agriculture
delivered to assembly
passed senate
Mar 03, 2021 advanced to third reading
Mar 02, 2021 2nd report cal.
Mar 01, 2021 1st report cal.462
Feb 23, 2021 reported and committed to finance
Feb 09, 2021 referred to agriculture

Votes

view votes

Mar 1, 2021 - Finance committee Vote

S4707
18
0
committee
18
Aye
0
Nay
5
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Finance committee vote details

Feb 23, 2021 - Agriculture committee Vote

S4707
7
0
committee
7
Aye
0
Nay
2
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Agriculture committee vote details

Agriculture Committee Vote: Feb 23, 2021

aye wr (2)

Co-Sponsors

S4707 (ACTIVE) - Details

See Assembly Version of this Bill:
A2042
Current Committee:
Assembly Agriculture
Law Section:
Agriculture and Markets Law
Laws Affected:
Amd §§150 & 16, Ag & Mkts L; amd §§210-B & 606, Tax L; amd §§3-0301 & 19-0309, En Con L
Versions Introduced in Other Legislative Sessions:
2017-2018: A3281
2019-2020: S4875, A2718

S4707 (ACTIVE) - Summary

Establishes a tax credit for farmers who maximize carbon sequestration potential through a "carbon farming" land management strategy; directs DEC to develop regulations related to certifying the amount of carbon sequestered or emissions reduced.

S4707 (ACTIVE) - Sponsor Memo

S4707 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4707
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 9, 2021
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Agriculture
 
 AN ACT to amend the agriculture and markets law, the  tax  law  and  the
   environmental  conservation  law,  in  relation to enacting the carbon
   farming act

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  This  act  shall be known and may be cited as the "carbon
 farming act".
   § 2. Legislative intent. The legislature  hereby  finds  and  declares
 that  soil  and vegetation management can significantly enhance soil and
 carbon sequestration, resulting in a wide  range  of  environmental  and
 agricultural  benefits  to  New  York  farmers and residents, including:
 increased yields; soil health; improved water quality; and reductions in
 greenhouse gases. The legislature further declares that enhancing carbon
 sequestration, the long term storage of carbon in plants, soils, geolog-
 ic formations and the ocean, through farming is in the best interest  of
 New  Yorkers.  It  is  therefore  the  intent of the legislature and the
 purpose of this act to encourage farmers to further sequester and  miti-
 gate carbon in this state by establishing a carbon farming tax credit to
 reward  and incentivize farmers to maintain or adopt practices that help
 maximize New York's carbon sequestration potential.
   § 3. Section 150 of the agriculture and  markets  law  is  amended  by
 adding a new subdivision 5 to read as follows:
   5.  "CARBON  FARMING"  MEANS  THE  IMPLEMENTATION OF A LAND MANAGEMENT
 STRATEGY FOR THE PURPOSES  OF  REDUCING,  SEQUESTERING,  AND  MITIGATING
 GREENHOUSE GAS EMISSIONS ON LAND USED IN SUPPORT OF A FARM OPERATION AND
 QUANTIFYING  THOSE  GREENHOUSE  GAS  BENEFITS  USING  THE  UNITED STATES
 DEPARTMENT OF AGRICULTURE'S COMET-PLANNER, COMET-FARM, AND OTHER QUANTI-
 FICATION TOOLS.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05200-01-1

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