Bill Text: NY A06809 | 2015-2016 | General Assembly | Introduced
Bill Title: Relates to extending the authorization of any city having a population of one million or more to provide a biotechnology credit against the general corporation tax, unincorporated business tax, and banking corporation tax of such city.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2015-09-25 - signed chap.260 [A06809 Detail]
Download: New_York-2015-A06809-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
S. 4681 A. 6809
2015-2016 Regular Sessions
S E N A T E - A S S E M B L Y
April 6, 2015
___________
IN SENATE -- Introduced by Sen. GOLDEN -- read twice and ordered print-
ed, and when printed to be committed to the Committee on Investi-
gations and Government Operations
IN ASSEMBLY -- Introduced by M. of A. WEPRIN -- read once and referred
to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to extending the authorization
of any city having a population of one million or more to provide a
biotechnology credit against the general corporation tax, unincorpo-
rated business tax, and banking corporation tax of such city
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Paragraph 5 of subdivision (d) of section 1201-a of the tax
2 law, as amended by chapter 429 of the laws of 2012, is amended to read
3 as follows:
4 5. Any local law adopted pursuant to this subdivision may provide for
5 a credit as authorized by this subdivision for a maximum of three
6 consecutive calendar years, provided, however, that any such credit may
7 not apply to taxable years beginning before January first, two thousand
8 ten or beginning on or after January first, two thousand [sixteen] NINE-
9 TEEN.
10 S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD10243-01-5
