Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 30, 2010 |
signed chap.297 |
Jul 19, 2010 |
delivered to governor |
Jun 28, 2010 |
returned to senate passed assembly ordered to third reading rules cal.392 substituted for a10504 |
Jun 28, 2010 |
substituted by s7257 |
Jun 25, 2010 |
ordered to third reading rules cal.392 rules report cal.392 reported reported referred to rules |
Apr 02, 2010 |
referred to ways and means |
Assembly Bill A10504
Signed By Governor2009-2010 Legislative Session
Sponsored By
MAGEE
Archive: Last Bill Status Via S7257 - 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
Barbara Clark
Clifford Crouch
Peter Rivera
2009-A10504 (ACTIVE) - Details
- See Senate Version of this Bill:
- S7257
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยงยง210 & 606, Tax L
2009-A10504 (ACTIVE) - Sponsor Memo
BILL NUMBER:A10504 TITLE OF BILL: An act to amend the tax law, in relation to including payments from the state's farmland protection program as federal gross income from farming for otherwise eligible farmers PURPOSE OR GENERAL IDEA OF BILL: To ensure that farmers who receive payments from the New York Farmland Protection Program remain eligible for the Farmers' School Property Tax Credit. SUMMARY OF SPECIFIC PROVISIONS: Article 9-A, section 210, subsection 22 and Article 22, part (n) of section 606 of tax law is amended to maintain eligibility for the Farm- ers' School Property Tax Credit when a farmer receives payment for the sale of their development rights under the state's Farmland Protection Program. JUSTIFICATION: Farmers who meet strict eligibility requirements receive the Farmers' School Property Tax Credit. This critical agricultural tax relief
2009-A10504 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10504 I N A S S E M B L Y April 2, 2010 ___________ Introduced by M. of A. MAGEE -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to including payments from the state's farmland protection program as federal gross income from farm- ing for otherwise eligible farmers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (b) of subdivision 22 of section 210 of the tax law, as amended by chapter 527 of the laws of 2003, is amended to read as follows: (b) Eligible farmer. For purposes of this subdivision, the term "eligible farmer" means a taxpayer whose federal gross income from farm- ing for the taxable year is at least two-thirds of excess federal gross income. The term "eligible farmer" also includes a corporation other than the taxpayer of record for qualified agricultural land which has paid the school district property taxes on such land pursuant to a contract for the future purchase of such land; provided that such corpo- ration has a federal gross income from farming for the taxable year which is at least two-thirds of excess federal gross income; and provided further that, in determining such income eligibility, a taxpay- er may, for any taxable year, use the average of such federal gross income from farming for that taxable year and such income for the two consecutive taxable years immediately preceding such taxable year. Excess federal gross income means the amount of federal gross income from all sources for the taxable year in excess of thirty thousand dollars. FOR THE PURPOSES OF THIS PARAGRAPH, PAYMENTS FROM THE STATE'S FARMLAND PROTECTION PROGRAM, ADMINISTERED BY THE DEPARTMENT OF AGRICUL- TURE AND MARKETS, SHALL BE INCLUDED AS FEDERAL GROSS INCOME FROM FARMING FOR OTHERWISE ELIGIBLE FARMERS. S 2. Paragraph 2 of subsection (n) of section 606 of the tax law, as amended by chapter 527 of the laws of 2003, is amended to read as follows: (2) Eligible farmer. For purposes of this subsection, the term "eligi- ble farmer" means a taxpayer whose federal gross income from farming for EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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