Senate Bill S8009B

Signed By Governor
2021-2022 Legislative Session

Enacts into law major components of legislation which are necessary to implement the state fiscal plan for the 2022-2023 state fiscal year

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Archive: Last Bill Status - 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

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Bill Amendments

2021-S8009 - Details

Law Section:
Budget Bills
Laws Affected:
Amd Various Laws, generally

2021-S8009 - Summary

Enacts into law major components of legislation which are necessary to implement the state fiscal plan for the 2022-2023 state fiscal year; accelerates middle class tax cuts (Subpart A); provides for an alternative tax table benefit recapture for certain taxpayers (Subpart B)(Part A); provides an enhanced investment tax credit to farmers (Subpart A)

2021-S8009 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
     S. 8009                                                  A. 9009
 
                       S E N A T E - A S S E M B L Y
 
                             January 19, 2022
                                ___________
 
 IN  SENATE -- A BUDGET BILL, submitted by the Governor pursuant to arti-
   cle seven of the Constitution -- read twice and ordered  printed,  and
   when printed to be committed to the Committee on Finance
 
 IN  ASSEMBLY  --  A  BUDGET  BILL, submitted by the Governor pursuant to
   article seven of the Constitution -- read once  and  referred  to  the
   Committee on Ways and Means

 AN  ACT  to  amend  the tax law, in relation to accelerating the middle-
   class tax cut (Part A); to amend the tax law, in relation to providing
   an enhanced investment tax credit to farmers (Subpart A); to amend the
   tax law and chapter 60 of the laws of 2016 amending the tax law relat-
   ing to creating a farm workforce retention credit, in relation to  the
   effectiveness of such credit (Subpart B); and to amend the tax law, in
   relation  to  establishing a farm employer overtime credit (Subpart C)
   (Part B); to amend the tax law and the administrative code of the city
   of New York, in relation to expanding the small  business  subtraction
   modification  (Part C); to amend the tax law, in relation to excluding
   certain loan forgiveness awards from state income  tax  (Part  D);  to
   amend  the  economic  development  law and the tax law, in relation to
   creating the COVID-19 capital costs tax credit program  (Part  E);  to
   amend  the tax law and the state finance law, in relation to extending
   and expanding the New York city musical and theatrical production  tax
   credit  and  the  purposes  of  the New York state council on the arts
   cultural programs fund; and to amend subpart B of part PP  of  chapter
   59  of the laws of 2021 amending the tax law and the state finance law
   relating to establishing the New  York  city  musical  and  theatrical
   production  tax  credit and establishing the New York state council on
   the arts cultural program fund, in relation to the effectiveness ther-
   eof (Part F); to amend the tax law,  in  relation  to  establishing  a
   permanent  rate  for  the  metropolitan  transportation  business  tax
   surcharge (Part G); to amend the tax law, in relation to extending and
   modifying the hire a vet credit (Part H); to amend  the  tax  law,  in
   relation  to  establishing  a tax credit for the conversion from grade
   no. 6 heating oil  usage  to  biodiesel  heating  oil  and  geothermal
   systems  (Part  I);  to  amend  the public housing law, in relation to
   extending the credit  against  income  tax  for  persons  or  entities
   investing  in  low-income  housing  (Part J); to amend the tax law, in
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

2021-S8009A - Details

Law Section:
Budget Bills
Laws Affected:
Amd Various Laws, generally

2021-S8009A - Summary

Enacts into law major components of legislation which are necessary to implement the state fiscal plan for the 2022-2023 state fiscal year; accelerates middle class tax cuts (Subpart A); provides for an alternative tax table benefit recapture for certain taxpayers (Subpart B)(Part A); provides an enhanced investment tax credit to farmers (Subpart A)

2021-S8009A - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
     S. 8009--A                                            A. 9009--A
 
                       S E N A T E - A S S E M B L Y
 
                             January 19, 2022
                                ___________
 
 IN  SENATE -- A BUDGET BILL, submitted by the Governor pursuant to arti-
   cle seven of the Constitution -- read twice and ordered  printed,  and
   when  printed to be committed to the Committee on Finance -- committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 IN ASSEMBLY -- A BUDGET BILL, submitted  by  the  Governor  pursuant  to
   article  seven  of  the  Constitution -- read once and referred to the
   Committee on Ways and Means --  committee  discharged,  bill  amended,
   ordered reprinted as amended and recommitted to said committee
 
 AN  ACT  to  amend  the tax law, in relation to accelerating the middle-
   class tax cut (Part A); to amend the tax law, in relation to providing
   an enhanced investment tax credit to farmers (Subpart A); to amend the
   tax law and chapter 60 of the laws of 2016 amending the tax law relat-
   ing to creating a farm workforce retention credit, in relation to  the
   effectiveness of such credit (Subpart B); and to amend the tax law, in
   relation  to  establishing a farm employer overtime credit (Subpart C)
   (Part B); to amend the tax law and the administrative code of the city
   of New York, in relation to expanding the small  business  subtraction
   modification  (Part C); to amend the tax law, in relation to excluding
   certain loan forgiveness awards from state income  tax  (Part  D);  to
   amend  the  economic  development  law and the tax law, in relation to
   creating the COVID-19 capital costs tax credit program  (Part  E);  to
   amend  the tax law and the state finance law, in relation to extending
   and expanding the New York city musical and theatrical production  tax
   credit  and  the  purposes  of  the New York state council on the arts
   cultural programs fund; and to amend subpart B of part PP  of  chapter
   59  of the laws of 2021 amending the tax law and the state finance law
   relating to establishing the New  York  city  musical  and  theatrical
   production  tax  credit and establishing the New York state council on
   the arts cultural program fund, in relation to the effectiveness ther-
   eof (Part F); to amend the tax law,  in  relation  to  establishing  a
   permanent  rate  for  the  metropolitan  transportation  business  tax
   surcharge (Part G); to amend the tax law, in relation to extending and
   modifying the hire a vet credit (Part H); to amend  the  tax  law,  in
   relation  to  establishing  a tax credit for the conversion from grade
   no. 6 heating oil  usage  to  biodiesel  heating  oil  and  geothermal
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

2021-S8009B - Details

Law Section:
Budget Bills
Laws Affected:
Amd Various Laws, generally

2021-S8009B - Summary

Enacts into law major components of legislation which are necessary to implement the state fiscal plan for the 2022-2023 state fiscal year; accelerates middle class tax cuts (Subpart A); provides for an alternative tax table benefit recapture for certain taxpayers (Subpart B)(Part A); provides an enhanced investment tax credit to farmers (Subpart A)

2021-S8009B - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8009--B
 
                             I N  S E N A T E
 
                             January 19, 2022
                                ___________
 
 A  BUDGET  BILL,  submitted by the Governor pursuant to article seven of
   the Constitution -- read twice and ordered printed, and  when  printed
   to  be  committed to the Committee on Finance -- committee discharged,
   bill amended, ordered reprinted as amended  and  recommitted  to  said
   committee  -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee

 AN ACT to amend the tax law, in relation  to  accelerating  the  middle-
   class tax cut (Part A); to amend the tax law, in relation to providing
   an enhanced investment tax credit to farmers (Subpart A); to amend the
   tax law and chapter 60 of the laws of 2016 amending the tax law relat-
   ing  to creating a farm workforce retention credit, in relation to the
   effectiveness of such credit (Subpart B); and to amend the tax law, in
   relation to establishing a farm employer overtime credit  (Subpart  C)
   (Part B); to amend the tax law and the administrative code of the city
   of  New York, in relation to the business income base rate and expand-
   ing the small business subtraction modification (Part C); to amend the
   tax law, in relation to excluding certain loan forgiveness awards from
   state income tax (Part D); to amend the economic development  law  and
   the  tax  law,  in relation to creating the COVID-19 capital costs tax
   credit program (Part E); to amend the tax law and  the  state  finance
   law,  in relation to extending and expanding the New York city musical
   and theatrical production tax credit and the purposes of the New  York
   state council on the arts cultural programs fund; and to amend subpart
   B  of  part  PP of chapter 59 of the laws of 2021 amending the tax law
   and the state finance law relating to establishing the New  York  city
   musical  and theatrical production tax credit and establishing the New
   York state council on the arts cultural program fund, in  relation  to
   the effectiveness thereof (Part F); intentionally omitted (Part G); to
   amend  the  tax law, in relation to extending and modifying the hire a
   vet credit (Part H); to amend the tax law, in relation to establishing
   a tax credit for the conversion from grade no. 6 heating oil usage  to
   biodiesel  heating  oil  and geothermal systems (Part I); to amend the
   public housing law, in relation to extending the credit against income
   tax for persons or entities investing in low-income housing (Part  J);
   to  amend  the  tax  law, in relation to extending the  clean  heating
   fuel credit  for  three  years (Part K); to amend chapter 604  of  the
   laws of 2011 amending the tax law relating to the credit for companies
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets