Senate Bill S1921A

2015-2016 Legislative Session

Makes technical corrections to the conservation easement tax credit

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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

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Bill Amendments

2015-S1921 - Details

See Assembly Version of this Bill:
A3920
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§606 & 210-B, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: S866
2011-2012: S4088
2013-2014: S3631
2017-2018: S1695, A3309

2015-S1921 - Summary

Makes technical corrections to the conservation easement tax credit.

2015-S1921 - Sponsor Memo

2015-S1921 - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1921

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 15, 2015
                               ___________

Introduced  by  Sen.  MARCELLINO  -- read twice and ordered printed, and
  when printed to be committed to the Committee  on  Investigations  and
  Government Operations

AN ACT to amend the tax law, in relation to making technical corrections
  to the conservation easement tax credit

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph 1 of subsection (kk) of section 606  of  the  tax
law,  as added by section 1 of part F of chapter 62 of the laws of 2006,
is amended to read as follows:
  (1) Credit allowed. In the case of a taxpayer who owns  land  that  is
subject to a conservation easement held by a public or private conserva-
tion  agency, there shall be allowed a credit for twenty-five percent of
the [allowable school district, county and  town]  real  property  taxes
PAID  on  [such]  THE  land,  OR  PORTION  OF  THE  LAND, SUBJECT TO THE
EASEMENT. In no event shall the credit allowed under this subsection  in
combination  with any other credit for [such school district, county and
town] real property taxes under this section exceed such taxes.
  S 2. Subdivision 22 of section 210-B of  the  tax  law,  as  added  by
section  17  of  part A of chapter 59 of the laws of 2014, is renumbered
subdivision 49 and is amended to read as follows:
  49. Conservation easement tax credit. (a) Credit allowed. In the  case
of  a  taxpayer who owns land that is subject to a conservation easement
held by a public or private conservation agency, there shall be  allowed
a  credit  for  twenty-five  percent  of the [allowable school district,
county and town] real property taxes PAID on [such] THE land, OR PORTION
OF THE LAND, SUBJECT TO THE EASEMENT. In no such case shall  the  credit
allowed  under this subdivision in combination with any other credit for
[such school district, county and town] real property taxes  under  this
section exceed such taxes.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06728-01-5

              

2015-S1921A (ACTIVE) - Details

See Assembly Version of this Bill:
A3920
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§606 & 210-B, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: S866
2011-2012: S4088
2013-2014: S3631
2017-2018: S1695, A3309

2015-S1921A (ACTIVE) - Summary

Makes technical corrections to the conservation easement tax credit.

2015-S1921A (ACTIVE) - Sponsor Memo

2015-S1921A (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 1921--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 15, 2015
                               ___________

Introduced  by  Sen.  MARCELLINO  -- read twice and ordered printed, and
  when printed to be committed to the Committee  on  Investigations  and
  Government  Operations  --  recommitted  to  the Committee on Investi-
  gations and Government Operations in accordance with  Senate  Rule  6,
  sec.  8  --  committee  discharged, bill amended, ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend the tax law, in relation to making technical corrections
  to the conservation easement tax credit

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Paragraph  1 of subsection (kk) of section 606 of the tax
law, as added by section 1 of part F of chapter 62 of the laws of  2006,
is amended to read as follows:
  (1)  Credit  allowed.  In the case of a taxpayer who owns land that is
subject to a conservation easement held by a public or private conserva-
tion agency, there shall be allowed a credit for twenty-five percent  of
the  [allowable  school  district,  county and town] real property taxes
PAID on [such] THE  land,  OR  PORTION  OF  THE  LAND,  SUBJECT  TO  THE
EASEMENT.  In no event shall the credit allowed under this subsection in
combination with any other credit for [such school district, county  and
town] real property taxes under this section exceed such taxes.
  S  2.  Subdivision  22  of  section  210-B of the tax law, as added by
section 17 of part A of chapter 59 of the laws of  2014,  is  renumbered
subdivision 49 and is amended to read as follows:
  49.  Conservation easement tax credit. (a) Credit allowed. In the case
of a taxpayer who owns land that is subject to a  conservation  easement
held  by a public or private conservation agency, there shall be allowed
a credit for twenty-five percent  of  the  [allowable  school  district,
county and town] real property taxes PAID on [such] THE land, OR PORTION
OF  THE  LAND, SUBJECT TO THE EASEMENT. In no such case shall the credit
allowed under this subdivision in combination with any other credit  for

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06728-02-6
              

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