Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to investigations and government operations |
Mar 02, 2015 |
referred to investigations and government operations |
Senate Bill S4126
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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
2015-S4126 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Rpld §612 sub§ (i), Tax L
2015-S4126 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4126 TITLE OF BILL: An act to repeal subsection (i) of section 612 of the tax law relating to the elimination of the personal income tax deduction for percentage depletion PURPOSE: To eliminate the addback for purposes of the New York State income tax for residents of the federal depletion allowance for mining-related businesses. SUMMARY OF PROVISIONS: Section 1 of the bill would repeal subsection (i) of Section 612 of the tax law. Section 2 specifies the effective date. JUSTIFICATION: Chapter 1 of the laws of 1972 enacted a series of revenue proposals to address the State's fiscal crisis during an extraordinary session of the Legislature called by Governor Rockefeller Included in the
2015-S4126 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4126 2015-2016 Regular Sessions I N S E N A T E March 2, 2015 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to repeal subsection (i) of section 612 of the tax law relating to the elimination of the personal income tax deduction for percentage depletion THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (i) of section 612 of the tax law is REPEALED. S 2. This act shall take effect immediately and shall apply to all taxable years beginning on or after January first, two thousand fifteen. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09652-01-5
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