Bill Text: NY A10352 | 2011-2012 | General Assembly | Introduced
Bill Title: Extends the authorization of New York City to provide a biotechnology credit against the general corporation tax, unincorporated business tax, and banking corporation tax of such city.
Spectrum: Moderate Partisan Bill (Democrat 10-3)
Status: (Introduced - Dead) 2012-06-19 - substituted by s7462 [A10352 Detail]
Download: New_York-2011-A10352-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
10352
I N A S S E M B L Y
May 24, 2012
___________
Introduced by M. of A. WEPRIN -- read once and referred to the Committee
on Ways and Means
AN ACT to amend the tax law, in relation to extending the authorization
of any city having a population of one million or more to provide a
biotechnology credit against the general corporation tax, unincorpo-
rated business tax, and banking corporation tax of such city
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Paragraph 5 of subdivision (d) of section 1201-a of the tax
2 law, as added by chapter 453 of the laws of 2009, is amended to read as
3 follows:
4 5. Any local law adopted pursuant to this subdivision may provide for
5 a credit as authorized by this subdivision for a maximum of three
6 consecutive calendar years, provided, however, that any such credit may
7 not apply to taxable years beginning before January first, two thousand
8 ten or beginning on or after January first, two thousand [thirteen]
9 SIXTEEN.
10 S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD15903-01-2
