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.
                                                                   LBD02802-01-9

        S. 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.
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