assembly Bill A6947

Signed By Governor
2021-2022 Legislative Session

Relates to a tax credit and tax exemption for the rehabilitation of historic barns

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S6042 - Signed by Governor


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

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Actions

view actions (11)
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

Votes

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May 19, 2021 - Finance committee Vote

S6042
22
0
committee
22
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

May 4, 2021 - Budget and Revenue committee Vote

S6042
6
0
committee
6
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: May 4, 2021

aye wr (1)

Co-Sponsors

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

A6947 (ACTIVE) - Summary

Relates to a tax credit and tax exemption for the rehabilitation of historic barns; defines historic barns; requires the establishment of eligibility guidelines.

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.