Bill Text: NY A07519 | 2009-2010 | General Assembly | Introduced

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Bill Title: Allows modifications reducing federal adjusted gross income for purposes of tax on personal income for the purchase and installation of farm waste electric generating equipment on land used in agricultural production.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-01-06 - referred to ways and means [A07519 Detail]

Download: New_York-2009-A07519-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7519
                              2009-2010 Regular Sessions
                                 I N  A S S E M B L Y
                                    April 14, 2009
                                      ___________
       Introduced  by M. of A. MAGEE -- read once and referred to the Committee
         on Ways and Means
       AN ACT to amend the tax  law,  in  relation  to  allowing  modifications
         reducing federal adjusted gross income for purposes of tax on personal
         income for the purchase and installation of farm waste electric gener-
         ating equipment
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subsection (c) of section 612 of the tax law is amended  by
    2  adding a new paragraph 39 to read as follows:
    3    (39)  AN  AMOUNT OF UP TO FIVE THOUSAND DOLLARS PAID BY A TAXPAYER FOR
    4  THE PURCHASE AND INSTALLATION OF FARM WASTE ELECTRIC  GENERATING  EQUIP-
    5  MENT  FOR  USE  ON LAND USED IN AGRICULTURAL PRODUCTION. FOR PURPOSES OF
    6  THIS PARAGRAPH, THE TERM  "FARM  WASTE  ELECTRIC  GENERATING  EQUIPMENT"
    7  SHALL  HAVE THE SAME MEANING AS THAT TERM IS DEFINED IN PARAGRAPH (E) OF
    8  SUBDIVISION ONE OF SECTION FOUR HUNDRED EIGHTY-SEVEN OF THE REAL PROPER-
    9  TY TAX LAW AND THE TERM "LAND USED  IN  AGRICULTURAL  PRODUCTION"  SHALL
   10  HAVE  THE  SAME  MEANING  AS THAT TERM IS DEFINED IN SUBDIVISION FOUR OF
   11  SECTION THREE HUNDRED ONE OF THE AGRICULTURE AND MARKETS LAW.
   12    S 2. This act shall take effect immediately and shall apply to taxable
   13  years beginning on or after the first of  January  next  succeeding  the
   14  date on which it shall have become a law.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05236-01-9