Assembly Bill A3772

2015-2016 Legislative Session

Relates to creating a tax credit for New York state businesses that source materials and supplies manufactured by other New York state businesses

download bill text pdf

Sponsored By

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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2015-A3772 (ACTIVE) - Details

See Senate Version of this Bill:
S3882
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §210-B, Tax L
Versions Introduced in 2013-2014 Legislative Session:
A7136, S5262

2015-A3772 (ACTIVE) - Summary

Relates to creating a tax credit for New York state businesses that source materials and supplies manufactured by other New York state businesses.

2015-A3772 (ACTIVE) - Bill Text download pdf 

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

                                  3772

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 27, 2015
                               ___________

Introduced by M. of A. TENNEY -- read once and referred to the Committee
  on Ways and Means

AN  ACT  to  amend the tax law, in relation to creating a tax credit for
  New York state businesses that source materials and supplies  manufac-
  tured by other New York state businesses

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

  Section. 1. Section 210-B of the tax law is amended by  adding  a  new
subdivision 49 to read as follows:
  49.  QUALIFIED  PRODUCTS LOCAL SOURCING CREDIT. (A) BUSINESSES SUBJECT
TO TAX LIABILITY UNDER ARTICLE NINE OR NINE-A OF THIS CHAPTER,  PURCHAS-
ING  QUALIFIED  PRODUCTS MAY CLAIM THE QUALIFIED PRODUCTS LOCAL SOURCING
TAX CREDIT AGAINST ANY SUCH LIABILITY AT  THE  CLOSE  OF  THE  TAX  YEAR
PROVIDED,  HOWEVER,  THAT  THE  UNUSED PORTION OF ANY TAX CREDIT CLAIMED
SHALL NOT BE CARRIED FORWARD AND APPLIED IN ANOTHER TAX YEAR.
  (B) FOR THE PURPOSES OF THIS SECTION THE FOLLOWING  TERMS  SHALL  HAVE
THE FOLLOWING MEANINGS:
  (1)  "QUALIFIED  PRODUCTS"  SHALL  MEAN  ANY MATERIALS, COMPONENTS, OR
SUPPLIES WHETHER USED IN THE MANUFACTURING PROCESS OR OTHERWISE THAT ARE
PRODUCED IN NEW YORK STATE BY A NEW YORK STATE BUSINESS;
  (2) "PRODUCER"  IS  AN  INDIVIDUAL  (WHETHER  ACTING  INDIVIDUALLY  OR
THROUGH  A  COOPERATIVE, CORPORATION, PARTNERSHIP, BUSINESS ASSOCIATION,
OR EDUCATIONAL INSTITUTION) WHO IS A BUSINESS OR MANUFACTURER  OF  GOODS
IN NEW YORK STATE, IT SHALL NOT HOWEVER INCLUDE A WHOLESALER OR DISTRIB-
UTOR;
  (3)  "PURCHASER"  IS  AN  INDIVIDUAL  (WHETHER  ACTING INDIVIDUALLY OR
THROUGH A COOPERATIVE, CORPORATION, PARTNERSHIP,  BUSINESS  ASSOCIATION,
OR  EDUCATIONAL  INSTITUTION) WHO IS A BUSINESS OR MANUFACTURER OF GOODS
IN NEW YORK STATE, IT SHALL NOT HOWEVER INCLUDE A WHOLESALER OR DISTRIB-
UTOR;
  (4) "NET SALES" ARE THE TOTAL SALES OF THE BUSINESS SUBJECT TO TAX.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07211-01-5

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.