Bill Text: NY S00601 | 2019-2020 | General Assembly | Introduced
Bill Title: Establishes the venison donation tax credit.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Introduced - Dead) 2020-01-08 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S00601 Detail]
Download: New_York-2019-S00601-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 601 2019-2020 Regular Sessions IN SENATE (Prefiled) January 9, 2019 ___________ Introduced by Sens. GALLIVAN, HELMING -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations AN ACT to amend the tax law, in relation to establishing the venison donation tax credit The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 606 of the tax law is amended by adding a new 2 subsection (jjj) to read as follows: 3 (jjj) Venison donation tax credit. (1) Allowance of credit. A taxpayer 4 who provides deer to a nonprofit organization for the purposes of veni- 5 son donation shall be allowed a credit, to be computed as provided in 6 paragraph two of this subsection, against the tax imposed by this arti- 7 cle. To qualify for the credit provided in this section, a taxpayer must 8 donate a deer to a nonprofit organization in its entirety provided, 9 however, that such taxpayer may retain the head, neck, antlers, hides 10 and/or hooves of such deer. 11 (2) Amount of credit. The amount of credit shall equal the number of 12 adult deer donated, multiplied by the weight of such deer which in all 13 cases shall be deemed forty-five pounds, multiplied further by the 14 donated venison price. The department of environmental conservation 15 shall annually determine the donated venison price on or before the 16 first day of August. The donated venison price shall be within fifty 17 percent of the total determined by subtracting the average processing 18 cost per pound charged by meat processing facilities from the market 19 price for ground beef provided, however, that in no case shall the 20 donated venison price be less than one dollar and fifty cents per pound. 21 (3) Application of credit. If the amount of the credit allowed under 22 this subsection for any taxable year shall exceed the taxpayer's tax for 23 such year, the excess shall be treated as an overpayment of tax to be EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD02802-01-9S. 601 2 1 credited or refunded in accordance with the provisions of section six 2 hundred eighty-six of this article, provided, however, that no interest 3 shall be paid thereon. 4 § 2. Paragraph (a) of subdivision 1 of section 210 of the tax law is 5 amended by adding a new subparagraph (x) to read as follows: 6 (x) In computing the business income base, a taxpayer which is a meat 7 processing facility shall be allowed a deduction equal to the amount of 8 any income received from a nonprofit organization in exchange for proc- 9 essing venison. 10 § 3. Subsection (c) of section 612 of the tax law is amended by adding 11 a new paragraph 44 to read as follows: 12 (44) The amount of any income received from a nonprofit organization 13 in exchange for processing venison. 14 § 4. This act shall take effect immediately and shall apply to all 15 taxable years beginning on and after January 1, 2020.