Bill Text: NY A00655 | 2019-2020 | General Assembly | Amended


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

Spectrum: Moderate Partisan Bill (Democrat 18-2)

Status: (Introduced) 2019-07-10 - print number 655a [A00655 Detail]

Download: New_York-2019-A00655-Amended.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                         655--A

                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                       (Prefiled)

                                     January 9, 2019
                                       ___________

        Introduced  by  M.  of  A. L. ROSENTHAL, ZEBROWSKI, FAHY, RIVERA, SIMON,
          GLICK, D'URSO, ENGLEBRIGHT, THIELE, WEPRIN,  RAIA,  LENTOL,  JACOBSON,
          STIRPE,  FERNANDEZ, ORTIZ, BENEDETTO, CARROLL -- Multi-Sponsored by --
          M. of A. FITZPATRICK, NIOU -- read once and referred to the  Committee
          on  Ways  and  Means  --  committee  discharged, bill amended, ordered
          reprinted as amended and recommitted to said committee

        AN ACT to amend the tax law and the environmental conservation  law,  in
          relation to establishing a bivalve mollusk 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 54 to read as follows:
     3    54.  Bivalve  mollusk  shell  recycling  credit.  A  taxpayer shall be
     4  allowed a credit, to be computed as hereinafter provided against the tax
     5  imposed by this article, for the recycling of  bivalve  mollusk  shells.
     6  The amount of the credit shall be the lesser of one thousand dollars, or
     7  ten cents multiplied by the number of pounds of mollusk shells certified
     8  by  the  New  York  state  department of environmental conservation. The
     9  credit allowed under this subdivision for any  taxable  year  shall  not
    10  reduce  the  tax due for such year to less than the fixed dollar minimum
    11  amount prescribed in paragraph (d) of subdivision  one  of  section  two
    12  hundred ten of this article. In order for a taxpayer to qualify for this
    13  credit, the shells shall be donated to an entity or organization permit-
    14  ted by the department of environmental conservation to reuse such shells
    15  for the beneficial use of oyster reef restoration.
    16    §  2. Section 606 of the tax law is amended by adding a new subsection
    17  (kkk) to read as follows:
    18    (kkk) Bivalve mollusk shell recycling credit. (1) A taxpayer shall  be
    19  allowed a credit, to be computed as hereinafter provided against the tax
    20  imposed by this article, for the recycling of bivalve mollusk shells.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00526-05-9

        A. 655--A                           2

     1    (2)  The  amount  of  the  credit  shall be the lesser of one thousand
     2  dollars, or ten cents multiplied by the  number  of  pounds  of  bivalve
     3  mollusk  shells  certified  by the New York state department of environ-
     4  mental conservation.
     5    (3)  In  order  for  a taxpayer to qualify for this credit, the shells
     6  shall be donated to an entity or organization permitted by  the  depart-
     7  ment  of environmental conservation to reuse such shells for the benefi-
     8  cial use of oyster reef restoration.
     9    § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
    10  of  the  tax  law  is  amended  by  adding a new clause (xlv) to read as
    11  follows:
    12  (xlv) Bivalve mollusk                Amount of credit under subdivision
    13  shell recycling credit under         fifty-four of section two
    14  subsection (kkk)                     hundred ten-B
    15    § 4. Subdivision 1 of section 3-0301 of the environmental conservation
    16  law is amended by adding a new paragraph ee to read as follows:
    17    ee. Establish rules and regulations  regarding  the  verification  and
    18  certification  of  bivalve mollusk shells returned to the department for
    19  recycling pursuant to the bivalve mollusk  shell  recycling  tax  credit
    20  provided  in  sections  two hundred ten-B and six hundred six of the tax
    21  law and for such shells to be reused  in  the  process  of  oyster  reef
    22  restoration.
    23    § 5. This act shall take effect immediately and shall apply to taxable
    24  years beginning on or after January 1, 2020.
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