Bill Text: NY A07509 | 2011-2012 | General Assembly | Introduced
Bill Title: Creates a local produce tax credit; provides that restaurants may claim the local produce tax credit in the amount of $100 for every $1,000 of local produce purchased for the restaurant; defines local produce as produce grown by a producer with the pride of NY symbol of the business claiming the local produce tax credit within NYS; requires the business to submit a report with tax returns stating the nature of the business, the name and location of the producer and the amount paid for the produce.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2012-01-04 - referred to ways and means [A07509 Detail]
Download: New_York-2011-A07509-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 7509 2011-2012 Regular Sessions I N A S S E M B L Y May 6, 2011 ___________ Introduced by M. of A. ZEBROWSKI -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to creating a local produce 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 of the tax law is amended by adding a new 2 subdivision 44 to read as follows: 3 44. LOCAL PRODUCE TAX CREDIT. (A) RESTAURANTS, TAVERNS, CAFETERIAS OR 4 OTHER BUSINESSES ENGAGED IN THE SALE OF FOODS PREPARED AND READY TO BE 5 EATEN MAY CLAIM THE LOCAL PRODUCE TAX CREDIT AGAINST THE TAX IMPOSED BY 6 THIS ARTICLE AT THE CLOSE OF THE TAX YEAR PROVIDED, HOWEVER, THAT THE 7 UNUSED PORTION OF ANY TAX CREDIT CLAIMED SHALL NOT BE CARRIED FORWARD 8 AND APPLIED IN ANOTHER TAX YEAR. 9 (B) FOR THE PURPOSES OF THIS SECTION THE FOLLOWING TERMS SHALL HAVE 10 THE FOLLOWING MEANINGS: 11 (1) "LOCAL PRODUCE" IS PRODUCE GROWN BY A PRODUCER WITH THE PRIDE OF 12 NEW YORK SYMBOL OF THE BUSINESS CLAIMING THE LOCAL PRODUCE TAX CREDIT 13 WITHIN THE STATE OF NEW YORK, FROM SEED OR CONCEPTION THROUGH FINAL 14 PRODUCT. 15 (2) "PRODUCER" IS AN INDIVIDUAL (WHETHER ACTING INDIVIDUALLY OR 16 THROUGH A COOPERATIVE, CORPORATION, PARTNERSHIP, BUSINESS ASSOCIATION, 17 OR EDUCATIONAL INSTITUTION) WHO IS A FARMER, STUDENT FARMER OR MANUFAC- 18 TURER OF FOODS OR GOODS IN NEW YORK STATE. IT SHALL NOT, HOWEVER, 19 INCLUDE A WHOLESALER OR DISTRIBUTOR. 20 (C) THE AMOUNT OF THE CREDIT SHALL BE ONE HUNDRED DOLLARS FOR EVERY 21 PURCHASE BY A BUSINESS CLAIMING THE LOCAL PRODUCE TAX CREDIT OF LOCAL 22 PRODUCE FOR SALE AT THE BUSINESS IN THE AGGREGATE AMOUNT OF ONE THOUSAND 23 DOLLARS OR MORE. 24 (D) BUSINESSES CLAIMING THE LOCAL PRODUCE TAX CREDIT SHALL SUBMIT A 25 COMPUTER-GENERATED REPORT WITH TAX RETURNS THAT CLAIM A TAX CREDIT. SUCH EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10920-02-1 A. 7509 2 1 REPORT SHALL INCLUDE THE NATURE OF THE BUSINESS, THE NAME OF THE PRODUC- 2 ER AND THE PHYSICAL PLACE OF THE BUSINESS WHERE THE PRODUCTS ARE 3 PRODUCED AND THE AMOUNT PAID BY THE BUSINESS TO THE PRODUCER AND THE 4 AMOUNT OF UNITS PURCHASED. 5 S 2. Section 606 of the tax law is amended by adding a new subsection 6 (tt) to read as follows: 7 (TT) LOCAL PRODUCE TAX CREDIT. (1) RESTAURANTS, TAVERNS, CAFETERIAS OR 8 OTHER BUSINESSES ENGAGED IN THE SALE OF FOODS PREPARED AND READY TO BE 9 EATEN MAY CLAIM THE LOCAL PRODUCE TAX CREDIT AGAINST THE TAX IMPOSED BY 10 THIS ARTICLE AT THE CLOSE OF THE TAX YEAR PROVIDED, HOWEVER, THAT THE 11 UNUSED PORTION OF ANY TAX CREDIT CLAIMED SHALL NOT BE CARRIED FORWARD 12 AND APPLIED IN ANOTHER TAX YEAR. 13 (2) FOR THE PURPOSES OF THIS SECTION THE FOLLOWING TERMS SHALL HAVE 14 THE FOLLOWING MEANINGS: 15 (A) "LOCAL PRODUCE" IS PRODUCE GROWN BY A PRODUCER WITH THE PRIDE OF 16 NEW YORK SYMBOL OF THE BUSINESS CLAIMING THE LOCAL PRODUCE TAX CREDIT 17 WITHIN THE STATE OF NEW YORK, FROM SEED OR CONCEPTION THROUGH FINAL 18 PRODUCT. 19 (B) "PRODUCER" IS AN INDIVIDUAL (WHETHER ACTING INDIVIDUALLY OR 20 THROUGH A COOPERATIVE, CORPORATION, PARTNERSHIP, BUSINESS ASSOCIATION, 21 OR EDUCATIONAL INSTITUTION) WHO IS A FARMER, STUDENT FARMER OR MANUFAC- 22 TURER OF FOODS OR GOODS IN NEW YORK STATE. IT SHALL NOT, HOWEVER, 23 INCLUDE A WHOLESALER OR DISTRIBUTOR. 24 (3) THE AMOUNT OF THE CREDIT SHALL BE ONE HUNDRED DOLLARS FOR EVERY 25 PURCHASE BY A BUSINESS CLAIMING THE LOCAL PRODUCE TAX CREDIT OF LOCAL 26 PRODUCE FOR SALE AT THE BUSINESS IN THE AGGREGATE AMOUNT OF ONE THOUSAND 27 DOLLARS OR MORE. 28 (4) BUSINESSES CLAIMING THE LOCAL PRODUCE TAX CREDIT SHALL SUBMIT A 29 COMPUTER-GENERATED REPORT WITH TAX RETURNS THAT CLAIM A TAX CREDIT. SUCH 30 REPORT SHALL INCLUDE THE NATURE OF THE BUSINESS, THE NAME OF THE PROCE- 31 DURE AND THE PHYSICAL PLACE OF THE BUSINESS WHERE THE PRODUCTS ARE 32 PRODUCED AND THE AMOUNT PAID BY THE BUSINESS TO THE PRODUCER AND THE 33 AMOUNT OF UNITS PURCHASED. 34 S 3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 35 of the tax law is amended by adding a new clause (xxxiii) to read as 36 follows: 37 (XXXIII) LOCAL PRODUCE TAX CREDIT AMOUNT OF CREDIT UNDER 38 UNDER SUBSECTION (TT) SUBDIVISION FORTY-FOUR OF 39 SECTION TWO HUNDRED TEN 40 S 4. This act shall take effect immediately.