Bill Text: NY A02854 | 2015-2016 | General Assembly | Amended

New York Assembly Bill 2854 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Provides for the definition of "environmental zones" for purposes of the brownfield redevelopment tax credit.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Introduced - Dead) 2016-06-14 - held for consideration in ways and means [A02854 Detail]

Download: New_York-2015-A02854-Amended.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        2854--B
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 20, 2015
                                      ___________
       Introduced  by  M.  of A. PEOPLES-STOKES, BLAKE, ROBINSON -- Multi-Spon-
         sored by -- M. of A. GLICK, HOOPER, KEARNS, SCHIMEL -- read  once  and
         referred  to  the Committee on Ways and Means -- committee discharged,
         bill amended, ordered reprinted as amended  and  recommitted  to  said
         committee  --  again  reported  from  said  committee with amendments,
         ordered reprinted as amended and recommitted to said committee
       AN ACT to amend the tax law, in relation to the definition of  "environ-
         mental zones" for purposes of the brownfield redevelopment tax credit
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph 6 of subsection (b) of section 21 of the tax  law
    2  is amended by adding a new subparagraph (C) to read as follows:
    3    (C)  WITH  RESPECT  TO  ANY QUALIFIED SITE FOR WHICH THE DEPARTMENT OF
    4  ENVIRONMENTAL CONSERVATION HAS ISSUED A NOTICE TO THE  TAXPAYER  BETWEEN
    5  JANUARY  FIRST,  TWO  THOUSAND  ELEVEN  AND JUNE THIRTIETH, TWO THOUSAND
    6  FIFTEEN THAT ITS REQUEST  FOR  PARTICIPATION  HAS  BEEN  ACCEPTED  UNDER
    7  SUBDIVISION  SIX  OF  SECTION  27-1407 OF THE ENVIRONMENTAL CONSERVATION
    8  LAW, ENVIRONMENTAL ZONES SHALL INCLUDE SUCH AREAS THAT MEET THE CRITERIA
    9  CONTAINED IN SUBPARAGRAPH (A) OF THIS  PARAGRAPH  AS  CALCULATED  AS  OF
   10  JANUARY  FIRST  OF  THE  YEAR  IN WHICH THE ACCEPTANCE NOTICE WAS ISSUED
   11  USING EITHER THE MOST RECENT FIVE YEAR ESTIMATE FROM THE AMERICAN COMMU-
   12  NITY SURVEY PUBLISHED BY THE UNITES STATES CENSUS BUREAU OR  THE  CENSUS
   13  DATA FOR THE YEAR TWO THOUSAND.
   14    S  2.  This  act  shall  take  effect on the same date and in the same
   15  manner as section 23 of part BB of chapter 56 of the laws of 2015  takes
   16  effect  and  shall apply to any qualified sites for which the department
   17  of environmental conservation has issued a notice to the taxpayer on  or
   18  after  January  1,  2011  that  its  request  for participation has been
   19  accepted under subdivision 6 of section  27-1407  of  the  environmental
   20  conservation law, provided, further, that the provisions of subparagraph
   21  (C)  of paragraph (6) of subsection (b) of section 21 of the tax law, as
   22  added by section one of this act shall apply to tax years  beginning  on
   23  and after January 1, 2015.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01718-05-5