Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 23, 2021 |
signed chap.157 |
Jun 11, 2021 |
delivered to governor |
Jun 10, 2021 |
returned to senate passed assembly ordered to third reading rules cal.744 substituted for a8033 referred to ways and means delivered to assembly passed senate |
Jun 09, 2021 |
ordered to third reading cal.1722 |
Jun 07, 2021 |
referred to rules |
Senate Bill S7230
Signed By Governor2021-2022 Legislative Session
Sponsored By
(D, IP, WF) Senate District
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
Actions
Votes
co-Sponsors
(D) 15th Senate District
(D, WF) 56th Senate District
(D) 50th Senate District
2021-S7230 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8033
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§208 & 612, Tax L
2021-S7230 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7230 SPONSOR: KAPLAN TITLE OF BILL: An act to amend the tax law, in relation to providing an exclusion from income for amounts received pursuant to the COVID-19 pandemic small business recovery grant program PURPOSE: To amend the tax law to ensure that grant awards made via the COVID-19 Pandemic Small Business Recovery Grant Program are exempt from personal income tax. SUMMARY OF PROVISIONS: Section 1 amends section 208 of the tax law to provide an exemption from the corporate franchise tax for grants received pursuant to the COVID-19 pandemic small business recovery grant program established in section 16-ff of the urban development corporation act.
2021-S7230 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7230 2021-2022 Regular Sessions I N S E N A T E June 7, 2021 ___________ Introduced by Sen. KAPLAN -- (at request of the Governor) -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the tax law, in relation to providing an exclusion from income for amounts received pursuant to the COVID-19 pandemic small business recovery grant program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (a) of subdivision 9 of section 208 of the tax law is amended by adding a new subparagraph 22 to read as follows: (22) GRANTS RECEIVED PURSUANT TO THE COVID-19 PANDEMIC SMALL BUSINESS RECOVERY GRANT PROGRAM, ESTABLISHED IN SECTION 16-FF OF THE NEW YORK STATE URBAN DEVELOPMENT CORPORATION ACT, TO THE EXTENT INCLUDABLE IN FEDERAL TAXABLE INCOME. § 2. Subsection (c) of section 612 of the tax law is amended by adding a new paragraph 45 to read as follows: (45) GRANTS RECEIVED PURSUANT TO THE COVID-19 PANDEMIC SMALL BUSINESS RECOVERY GRANT PROGRAM, ESTABLISHED IN SECTION 16-FF OF THE NEW YORK STATE URBAN DEVELOPMENT CORPORATION ACT, TO THE EXTENT INCLUDABLE IN FEDERAL ADJUSTED GROSS INCOME. § 3. This act shall take effect immediately and shall apply to taxable years commencing on or after January 1, 2021. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD12026-01-1
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