Bill Text: NY A06723 | 2019-2020 | General Assembly | Introduced


Bill Title: Provides for the definition of "environmental zones" for purposes of the brownfield redevelopment tax credit.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced) 2019-03-15 - referred to ways and means [A06723 Detail]

Download: New_York-2019-A06723-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          6723
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                     March 15, 2019
                                       ___________
        Introduced by M. of A. PEOPLES-STOKES, BLAKE -- Multi-Sponsored by -- M.
          of  A.  GLICK  --  read once and referred to the Committee on Ways and
          Means
        AN ACT to amend the tax law, in relation to the definition of  "environ-
          mental zones" for purposes of the brownfield redevelopment tax credit
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Paragraph 6 of subsection (b) of section 21 of the tax  law
     2  is amended by adding a new subparagraph (C) to read as follows:
     3    (C)  with  respect  to  any qualified site for which the department of
     4  environmental conservation has issued a notice to the  taxpayer  between
     5  January  first,  two  thousand  eleven  and June thirtieth, two thousand
     6  nineteen that its request for  participation  has  been  accepted  under
     7  subdivision  six  of  section  27-1407 of the environmental conservation
     8  law, environmental zones shall include such areas that meet the criteria
     9  contained in subparagraph (A) of this  paragraph  as  calculated  as  of
    10  January  first  of  the  year  in which the acceptance notice was issued
    11  using either the most recent five year estimate from the American commu-
    12  nity survey published by the Unites States Census Bureau or  the  census
    13  data for the year two thousand.
    14    §  2.  This  act  shall take effect immediately and shall apply to any
    15  qualified sites for which the department of  environmental  conservation
    16  has issued a notice to the taxpayer on or after January 1, 2011 that its
    17  request  for  participation  has  been  accepted  under subdivision 6 of
    18  section  27-1407  of  the  environmental  conservation  law,   provided,
    19  further,  that  the  provisions  of  subparagraph  (C) of paragraph 6 of
    20  subsection (b) of section 21 of the tax law, as added by section one  of
    21  this  act  shall  apply  to  tax years beginning on and after January 1,
    22  2019.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04696-01-9
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