Bill Text: NY A07509 | 2011-2012 | General Assembly | Introduced

---

Bill Title: Creates a local produce tax credit; provides that restaurants may claim the local produce tax credit in the amount of $100 for every $1,000 of local produce purchased for the restaurant; defines local produce as produce grown by a producer with the pride of NY symbol of the business claiming the local produce tax credit within NYS; requires the business to submit a report with tax returns stating the nature of the business, the name and location of the producer and the amount paid for the produce.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2012-01-04 - referred to ways and means [A07509 Detail]

Download: New_York-2011-A07509-Introduced.html

---

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7509
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                      May 6, 2011
                                      ___________
       Introduced  by  M.  of  A.  ZEBROWSKI  --  read once and referred to the
         Committee on Ways and Means
       AN ACT to amend the tax law, in relation to creating a local produce tax
         credit
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Section  210  of  the  tax law is amended by adding a new
    2  subdivision 44 to read as follows:
    3    44. LOCAL PRODUCE TAX CREDIT. (A) RESTAURANTS, TAVERNS, CAFETERIAS  OR
    4  OTHER  BUSINESSES  ENGAGED IN THE SALE OF FOODS PREPARED AND READY TO BE
    5  EATEN MAY CLAIM THE LOCAL PRODUCE TAX CREDIT AGAINST THE TAX IMPOSED  BY
    6  THIS  ARTICLE  AT  THE CLOSE OF THE TAX YEAR PROVIDED, HOWEVER, THAT THE
    7  UNUSED PORTION OF ANY TAX CREDIT CLAIMED SHALL NOT  BE  CARRIED  FORWARD
    8  AND APPLIED IN ANOTHER TAX YEAR.
    9    (B)  FOR  THE  PURPOSES OF THIS SECTION THE FOLLOWING TERMS SHALL HAVE
   10  THE FOLLOWING MEANINGS:
   11    (1) "LOCAL PRODUCE" IS PRODUCE GROWN BY A PRODUCER WITH THE  PRIDE  OF
   12  NEW  YORK  SYMBOL  OF THE BUSINESS CLAIMING THE LOCAL PRODUCE TAX CREDIT
   13  WITHIN THE STATE OF NEW YORK, FROM  SEED  OR  CONCEPTION  THROUGH  FINAL
   14  PRODUCT.
   15    (2)  "PRODUCER"  IS  AN  INDIVIDUAL  (WHETHER  ACTING  INDIVIDUALLY OR
   16  THROUGH A COOPERATIVE, CORPORATION, PARTNERSHIP,  BUSINESS  ASSOCIATION,
   17  OR  EDUCATIONAL INSTITUTION) WHO IS A FARMER, STUDENT FARMER OR MANUFAC-
   18  TURER OF FOODS OR GOODS IN  NEW  YORK  STATE.  IT  SHALL  NOT,  HOWEVER,
   19  INCLUDE A WHOLESALER OR DISTRIBUTOR.
   20    (C)  THE  AMOUNT  OF THE CREDIT SHALL BE ONE HUNDRED DOLLARS FOR EVERY
   21  PURCHASE BY A BUSINESS CLAIMING THE LOCAL PRODUCE TAX  CREDIT  OF  LOCAL
   22  PRODUCE FOR SALE AT THE BUSINESS IN THE AGGREGATE AMOUNT OF ONE THOUSAND
   23  DOLLARS OR MORE.
   24    (D)  BUSINESSES  CLAIMING  THE LOCAL PRODUCE TAX CREDIT SHALL SUBMIT A
   25  COMPUTER-GENERATED REPORT WITH TAX RETURNS THAT CLAIM A TAX CREDIT. SUCH
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10920-02-1
       A. 7509                             2
    1  REPORT SHALL INCLUDE THE NATURE OF THE BUSINESS, THE NAME OF THE PRODUC-
    2  ER AND THE PHYSICAL  PLACE  OF  THE  BUSINESS  WHERE  THE  PRODUCTS  ARE
    3  PRODUCED  AND  THE  AMOUNT  PAID BY THE BUSINESS TO THE PRODUCER AND THE
    4  AMOUNT OF UNITS PURCHASED.
    5    S  2. Section 606 of the tax law is amended by adding a new subsection
    6  (tt) to read as follows:
    7    (TT) LOCAL PRODUCE TAX CREDIT. (1) RESTAURANTS, TAVERNS, CAFETERIAS OR
    8  OTHER BUSINESSES ENGAGED IN THE SALE OF FOODS PREPARED AND READY  TO  BE
    9  EATEN  MAY CLAIM THE LOCAL PRODUCE TAX CREDIT AGAINST THE TAX IMPOSED BY
   10  THIS ARTICLE AT THE CLOSE OF THE TAX YEAR PROVIDED,  HOWEVER,  THAT  THE
   11  UNUSED  PORTION  OF  ANY TAX CREDIT CLAIMED SHALL NOT BE CARRIED FORWARD
   12  AND APPLIED IN ANOTHER TAX YEAR.
   13    (2) FOR THE PURPOSES OF THIS SECTION THE FOLLOWING  TERMS  SHALL  HAVE
   14  THE FOLLOWING MEANINGS:
   15    (A)  "LOCAL  PRODUCE" IS PRODUCE GROWN BY A PRODUCER WITH THE PRIDE OF
   16  NEW YORK SYMBOL OF THE BUSINESS CLAIMING THE LOCAL  PRODUCE  TAX  CREDIT
   17  WITHIN  THE  STATE  OF  NEW  YORK, FROM SEED OR CONCEPTION THROUGH FINAL
   18  PRODUCT.
   19    (B) "PRODUCER"  IS  AN  INDIVIDUAL  (WHETHER  ACTING  INDIVIDUALLY  OR
   20  THROUGH  A  COOPERATIVE, CORPORATION, PARTNERSHIP, BUSINESS ASSOCIATION,
   21  OR EDUCATIONAL INSTITUTION) WHO IS A FARMER, STUDENT FARMER OR  MANUFAC-
   22  TURER  OF  FOODS  OR  GOODS  IN  NEW  YORK STATE. IT SHALL NOT, HOWEVER,
   23  INCLUDE A WHOLESALER OR DISTRIBUTOR.
   24    (3) THE AMOUNT OF THE CREDIT SHALL BE ONE HUNDRED  DOLLARS  FOR  EVERY
   25  PURCHASE  BY  A  BUSINESS CLAIMING THE LOCAL PRODUCE TAX CREDIT OF LOCAL
   26  PRODUCE FOR SALE AT THE BUSINESS IN THE AGGREGATE AMOUNT OF ONE THOUSAND
   27  DOLLARS OR MORE.
   28    (4) BUSINESSES CLAIMING THE LOCAL PRODUCE TAX CREDIT  SHALL  SUBMIT  A
   29  COMPUTER-GENERATED REPORT WITH TAX RETURNS THAT CLAIM A TAX CREDIT. SUCH
   30  REPORT  SHALL INCLUDE THE NATURE OF THE BUSINESS, THE NAME OF THE PROCE-
   31  DURE AND THE PHYSICAL PLACE OF  THE  BUSINESS  WHERE  THE  PRODUCTS  ARE
   32  PRODUCED  AND  THE  AMOUNT  PAID BY THE BUSINESS TO THE PRODUCER AND THE
   33  AMOUNT OF UNITS PURCHASED.
   34    S 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
   35  of  the  tax  law  is amended by adding a new clause (xxxiii) to read as
   36  follows:
   37  (XXXIII) LOCAL PRODUCE TAX CREDIT    AMOUNT OF CREDIT UNDER
   38  UNDER SUBSECTION (TT)                SUBDIVISION FORTY-FOUR OF
   39                                       SECTION TWO HUNDRED TEN
   40    S 4. This act shall take effect immediately.