Bill Text: NY S06017 | 2019-2020 | General Assembly | Introduced


Bill Title: Provides a tax credit to certain landowners who allow snowmobile access on such land.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2019-05-16 - REFERRED TO BUDGET AND REVENUE [S06017 Detail]

Download: New_York-2019-S06017-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                          6017

                               2019-2020 Regular Sessions

                    IN SENATE

                                      May 16, 2019
                                       ___________

        Introduced  by  Sen.  GRIFFO -- 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, in relation to providing a  tax  credit  to
          certain landowners who allow snowmobile access on such land

          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 (n-3) to read as follows:
     3    (n-3)  Credit for certain landowners who allow snowmobile access.  (1)
     4  An individual taxpayer who meets the eligibility standards in  paragraph
     5  two  of  this  subsection  shall  be  allowed a credit against the taxes
     6  imposed by this article in the amount specified in  paragraph  three  of
     7  this subsection.
     8    (2)  To  be eligible for the credit, the taxpayer (or taxpayers filing
     9  joint returns) on the personal income tax return must  allow  snowmobile
    10  access in the form of a state-funded snowmobile trail or portion thereof
    11  on property owned by the taxpayer.
    12    (3) A taxpayer shall be allowed a credit equal to ten cents per linear
    13  foot  of  state-funded snowmobile trail on eligible property pursuant to
    14  paragraph two of this subsection.
    15    (4) The amount of the credit that may be claimed by a taxpayer  pursu-
    16  ant  to  this subsection shall not exceed seven hundred fifty dollars in
    17  any given year.
    18    (5) If the amount of credit allowable under this  subsection  for  any
    19  taxable  year  shall exceed the taxpayer's tax for such year, the excess
    20  allowed for a taxable year commencing prior to January first, two  thou-
    21  sand  twenty  may be carried over to the following year or years and may
    22  be deducted from the taxpayer's tax for such year or years,  but  in  no
    23  event  shall  such credit be carried over to taxable years commencing on
    24  or after January first, two thousand thirty, and any  amount  of  credit
    25  allowed  for  a  taxable  year commencing on or after January first, two

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06414-01-9

        S. 6017                             2

     1  thousand twenty and not deductible in such year may be carried  over  to
     2  the  ten  taxable  years  next  following  such  taxable year and may be
     3  deducted from the taxpayer's tax for such year  or  years.  In  lieu  of
     4  carrying  over  any  such excess, a taxpayer who is eligible pursuant to
     5  paragraph two of this subsection may, at his or her option, receive such
     6  excess as a refund. Any refund paid pursuant to this paragraph shall  be
     7  deemed  to  be  a refund of an overpayment of tax as provided in section
     8  six hundred eighty-six of  this  article,  provided,  however,  that  no
     9  interest shall be paid thereon.
    10    §  2. This act shall take effect on the first of January next succeed-
    11  ing the date on which it shall have become a  law  and  shall  apply  to
    12  taxable  years  beginning on or after such date. The department of taxa-
    13  tion and finance is  authorized  to  promulgate  rules  and  regulations
    14  necessary  for  the  timely implementation of this act on or before such
    15  effective date.
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