Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 19, 2014 |
print number 8664a |
May 19, 2014 |
amend and recommit to ways and means |
Jan 31, 2014 |
referred to ways and means |
Assembly Bill A8664A
2013-2014 Legislative Session
Sponsored By
BRINDISI
Archive: Last Bill Status - In Assembly Committee
- 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
Bill Amendments
co-Sponsors
Angelo Santabarbara
Anthony H. Palumbo
Alec Brook-Krasny
Clifford Crouch
multi-Sponsors
John Ceretto
William Magee
Jose Rivera
2013-A8664 - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2013-A8664 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8664 I N A S S E M B L Y January 31, 2014 ___________ Introduced by M. of A. BRINDISI -- read once and referred to the Commit- tee on Ways and Means AN ACT to amend the tax law, in relation to establishing a tax credit for certain flood victims THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsections (yy) and (zz) of section 606 of the tax law, as relettered by section 5 of part H of chapter 1 of the laws of 2003, are relettered subsections (yyy) and (zzz) and a new subsection (xx) is added to read as follows: (XX) TAX CREDIT FOR VICTIMS OF FLOODING IN THE FOLLOWING COUNTIES DURING THE PERIOD FROM JUNE TWENTIETH, TWO THOUSAND THIRTEEN TO AND INCLUDING AUGUST NINTH, TWO THOUSAND THIRTEEN: ONEIDA, HERKIMER, MADI- SON, MONTGOMERY, TOMPKINS, CORTLAND, CHEMUNG, SCHUYLER, STEUBEN, AND NIAGARA. (1) ALLOWANCE OF CREDIT. A QUALIFIED TAXPAYER SHALL BE ALLOWED A CRED- IT FOR TAXABLE YEARS TWO THOUSAND THIRTEEN AND TWO THOUSAND FOURTEEN, TO BE COMPUTED AS HEREINAFTER PROVIDED, AGAINST THE TAX IMPOSED BY THIS ARTICLE. FOR PURPOSES OF THIS PARAGRAPH, THE TERM "QUALIFIED TAXPAYER" MEANS A BUSINESS OR RESIDENT TAXPAYER. (2) AMOUNT OF CREDIT. (A) THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO THE AMOUNT OF SCHOOL TAXES PAID FOR THE TWO THOUSAND THIRTEEN--TWO THOU- SAND FOURTEEN SCHOOL YEAR AND THE AMOUNT OF ANY CITY, VILLAGE, TOWN AND COUNTY TAXES PAID IN TAXABLE YEAR TWO THOUSAND FOURTEEN WITH RESPECT TO ANY PROPERTY WHICH RECEIVED SUBSTANTIAL DAMAGE AS A RESULT OF SEVERE FLOODING DURING THE PERIOD OF JUNE TWENTIETH, TWO THOUSAND THIRTEEN TO AUGUST NINTH, TWO THOUSAND THIRTEEN, INCLUSIVE. (B) FOR PURPOSES OF THIS SUBSECTION, THE TERM "SUBSTANTIAL DAMAGE" MEANS DAMAGE OF ANY ORIGIN SUSTAINED BY A STRUCTURE WHEREBY THE COST OF RESTORING THE STRUCTURE TO ITS BEFORE DAMAGED CONDITION WOULD EQUAL OR EXCEED FIFTY PERCENT OF THE MARKET VALUE OF THE STRUCTURE BEFORE THE DAMAGE OCCURRED. (3) ELIGIBILITY. (A) THE CREDIT SHALL ONLY BE ALLOWED WHERE THE AFFECTED PROPERTY IS LOCATED IN A COUNTY IN THIS STATE WHICH WAS EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
co-Sponsors
Angelo Santabarbara
Anthony H. Palumbo
Alec Brook-Krasny
Clifford Crouch
multi-Sponsors
John Ceretto
William Magee
Jose Rivera
2013-A8664A (ACTIVE) - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2013-A8664A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8664--A I N A S S E M B L Y January 31, 2014 ___________ Introduced by M. of A. BRINDISI, SANTABARBARA, PALUMBO, BROOK-KRASNY, CROUCH -- Multi-Sponsored by -- M. of A. CERETTO, MAGEE, RIVERA -- 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 establishing a tax credit for certain flood victims THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 606 of the tax law is amended by adding a new subsection (ccc) to read as follows: (CCC) TAX CREDIT FOR VICTIMS OF FLOODING IN THE FOLLOWING COUNTIES DURING THE PERIOD FROM JUNE TWENTIETH, TWO THOUSAND THIRTEEN TO AND INCLUDING AUGUST NINTH, TWO THOUSAND THIRTEEN: ONEIDA, HERKIMER, MADI- SON, MONTGOMERY, TOMPKINS, CORTLAND, CHEMUNG, SCHUYLER, STEUBEN, AND NIAGARA. (1) ALLOWANCE OF CREDIT. A QUALIFIED TAXPAYER SHALL BE ALLOWED A CRED- IT FOR TAXABLE YEARS TWO THOUSAND FOURTEEN AND TWO THOUSAND FIFTEEN, TO BE COMPUTED AS HEREINAFTER PROVIDED, AGAINST THE TAX IMPOSED BY THIS ARTICLE. FOR PURPOSES OF THIS PARAGRAPH, THE TERM "QUALIFIED TAXPAYER" MEANS A BUSINESS OR RESIDENT TAXPAYER. (2) AMOUNT OF CREDIT. (A) THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO THE AMOUNT OF SCHOOL TAXES PAID FOR THE TWO THOUSAND THIRTEEN--TWO THOU- SAND FOURTEEN SCHOOL YEAR AND THE AMOUNT OF ANY CITY, VILLAGE, TOWN AND COUNTY TAXES PAID IN TAXABLE YEAR TWO THOUSAND FOURTEEN WITH RESPECT TO ANY PROPERTY WHICH RECEIVED SUBSTANTIAL DAMAGE AS A RESULT OF SEVERE FLOODING DURING THE PERIOD OF JUNE TWENTIETH, TWO THOUSAND THIRTEEN TO AUGUST NINTH, TWO THOUSAND THIRTEEN, INCLUSIVE. (B) FOR PURPOSES OF THIS SUBSECTION, THE TERM "SUBSTANTIAL DAMAGE" MEANS DAMAGE OF ANY ORIGIN SUSTAINED BY A STRUCTURE WHEREBY THE COST OF RESTORING THE STRUCTURE TO ITS BEFORE DAMAGED CONDITION WOULD EQUAL OR EXCEED FIFTY PERCENT OF THE MARKET VALUE OF THE STRUCTURE BEFORE THE DAMAGE OCCURRED. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11936-03-4
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