Bill Text: NY A11366 | 2009-2010 | General Assembly | Introduced

New York Assembly Bill 11366 (Prior Session Legislation)

Introduced

Bill Title: Relates to empire zones capital credit for contributions to qualified not-for-profit projects located in designated empire zones.

Sponsorship: Partisan Bill (Democrat 2)

Status: (Introduced - Dead) 2010-06-04 - referred to ways and means [A11366 Detail]

Download: New_York-2009-A11366-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         11366
                                 I N  A S S E M B L Y
                                     June 4, 2010
                                      ___________
       Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Magnarelli)
         -- read once and referred to the Committee on Ways and Means
       AN ACT to amend the tax law, in relation to empire zones capital  credit
         for  contributions  to  qualified  not-for-profit  projects located in
         designated empire zones
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1. Subdivision 20 of section 210 of the tax law is amended by
    2  adding a new paragraph (e) to read as follows:
    3    (E) NOTWITHSTANDING THE EXPIRATION OF THE EMPIRE ZONES  PROGRAM  UNDER
    4  ARTICLE  EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, ANY COMMUNITY DEVELOP-
    5  MENT PROJECT CERTIFIED PURSUANT TO SUBPARAGRAPH THREE OF  PARAGRAPH  (A)
    6  OF  THIS SUBDIVISION ON THE DAY IMMEDIATELY PRECEDING THE DAY THE EMPIRE
    7  ZONES PROGRAM EXPIRES SHALL CONTINUE TO BE DEEMED CERTIFIED  UNTIL  JUNE
    8  THIRTIETH, TWO THOUSAND SEVENTEEN.
    9    S 2. Subsection (l) of section 606 of the tax law is amended by adding
   10  a new paragraph 5 to read as follows:
   11    (5)  NOTWITHSTANDING  THE EXPIRATION OF THE EMPIRE ZONES PROGRAM UNDER
   12  ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, ANY COMMUNITY  DEVELOP-
   13  MENT  PROJECT CERTIFIED PURSUANT TO SUBPARAGRAPH (C) OF PARAGRAPH ONE OF
   14  THIS SUBSECTION ON THE DAY IMMEDIATELY  PRECEDING  THE  DAY  THE  EMPIRE
   15  ZONES  PROGRAM  EXPIRES SHALL CONTINUE TO BE DEEMED CERTIFIED UNTIL JUNE
   16  THIRTIETH, TWO THOUSAND SEVENTEEN.
   17    S 3. Subsection (d) of section 1456 of  the  tax  law  is  amended  by
   18  adding a new paragraph 5 to read as follows:
   19    (5)  NOTWITHSTANDING  THE EXPIRATION OF THE EMPIRE ZONES PROGRAM UNDER
   20  ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, ANY COMMUNITY  DEVELOP-
   21  MENT  PROJECT CERTIFIED PURSUANT TO SUBPARAGRAPH (C) OF PARAGRAPH ONE OF
   22  THIS SUBSECTION ON THE DAY IMMEDIATELY  PRECEDING  THE  DAY  THE  EMPIRE
   23  ZONES  PROGRAM  EXPIRES SHALL CONTINUE TO BE DEEMED CERTIFIED UNTIL JUNE
   24  THIRTIETH, TWO THOUSAND SEVENTEEN.
   25    S 4. Subdivision (h) of section 1511 of the  tax  law  is  amended  by
   26  adding a new paragraph 5 to read as follows:
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD17066-03-0
       A. 11366                            2
    1    (5)  NOTWITHSTANDING  THE EXPIRATION OF THE EMPIRE ZONES PROGRAM UNDER
    2  ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, ANY COMMUNITY  DEVELOP-
    3  MENT  PROJECT CERTIFIED PURSUANT TO SUBPARAGRAPH (C) OF PARAGRAPH ONE OF
    4  THIS SUBDIVISION ON THE DAY IMMEDIATELY PRECEDING  THE  DAY  THE  EMPIRE
    5  ZONES  PROGRAM  EXPIRES SHALL CONTINUE TO BE DEEMED CERTIFIED UNTIL JUNE
    6  THIRTIETH, TWO THOUSAND SEVENTEEN.
    7    S 5. This act shall take effect immediately.