Bill Text: NY S04718 | 2019-2020 | General Assembly | Introduced


Bill Title: Establishes an oyster shell recycling tax credit and directs DEC to promulgate necessary regulations.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Introduced) 2019-03-21 - REFERRED TO BUDGET AND REVENUE [S04718 Detail]

Download: New_York-2019-S04718-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          4718
                               2019-2020 Regular Sessions
                    IN SENATE
                                     March 21, 2019
                                       ___________
        Introduced  by  Sen. METZGER -- read twice and ordered printed, and when
          printed to be committed to the Committee on Budget and Revenue
        AN ACT to amend the tax law and the environmental conservation  law,  in
          relation to establishing an oyster shell recycling 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-B of the tax law is amended  by  adding  a  new
     2  subdivision 53 to read as follows:
     3    53. Oyster shell recycling credit. A taxpayer shall be allowed a cred-
     4  it,  to  be  computed as hereinafter provided against the tax imposed by
     5  this article, for the recycling of oyster  shells.  The  amount  of  the
     6  credit  shall be the lesser of one thousand dollars, or ten cents multi-
     7  plied by the number of pounds of oyster shells certified by the New York
     8  state department of environmental conservation. The credit allowed under
     9  this subdivision for any taxable year shall not reduce the tax  due  for
    10  such  year  to  less  than the fixed dollar minimum amount prescribed in
    11  paragraph (d) of subdivision one of section  two  hundred  ten  of  this
    12  article.
    13    §  2. Section 606 of the tax law is amended by adding a new subsection
    14  (jjj) to read as follows:
    15    (jjj) Oyster shell recycling credit. (1) A taxpayer shall be allowed a
    16  credit, to be computed as hereinafter provided against the  tax  imposed
    17  by this article, for the recycling of oyster shells.
    18    (2)  The  amount  of  the  credit  shall be the lesser of one thousand
    19  dollars, or ten cents multiplied by  the  number  of  pounds  of  oyster
    20  shells  certified  by  the  New  York  state department of environmental
    21  conservation.
    22    § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
    23  of  the  tax  law  is  amended  by adding a new clause (xliv) to read as
    24  follows:
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00526-01-9

        S. 4718                             2
     1  (xliv) Oyster shell recycling        Amount of credit under subdivision
     2  credit under subsection (jjj)        53 of section two hundred ten-B
     3    § 4. Subdivision 1 of section 3-0301 of the environmental conservation
     4  law is amended by adding a new paragraph ee to read as follows:
     5    ee. The department shall establish rules and regulations regarding the
     6  verification,  certification,  and  use of oyster shells returned to the
     7  department for recycling for the purposes of the oyster shell  recycling
     8  tax credit provided in sections two hundred ten-B and six hundred six of
     9  the tax law.
    10    § 5. This act shall take effect immediately and shall apply to taxable
    11  years beginning on or after January 1, 2020.
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