Bill Text: NY S00751 | 2019-2020 | General Assembly | Introduced

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Bill Title: Establishes the buy New York produce tax credit; provides a tax credit for food service establishments for ten percent of the total receipts of New York produced farm products purchased, not to exceed one thousand dollars.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2020-01-08 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S00751 Detail]

Download: New_York-2019-S00751-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                           751
                               2019-2020 Regular Sessions
                    IN SENATE
                                       (Prefiled)
                                     January 9, 2019
                                       ___________
        Introduced  by  Sen.  MONTGOMERY  -- read twice and ordered printed, and
          when printed to be committed to the Committee  on  Investigations  and
          Government Operations
        AN  ACT  to  amend  the tax law, in relation to establishing the buy New
          York 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-B  of the tax law is amended by adding a new
     2  subdivision 53 to read as follows:
     3    53. Buy New York produce tax credit. (a) Amount of credit. A  taxpayer
     4  shall  be  allowed  a credit against the tax imposed by this article for
     5  purchasing New York produced farm products. The  amount  of  the  credit
     6  shall be equal to ten percent of the total receipts of New York produced
     7  farm  products  that are purchased by the taxpayer in a taxable year not
     8  to exceed one thousand dollars in a taxable year.
     9    (b) Credit limitation. The total  amount  of  credit  to  be  provided
    10  statewide shall not exceed five million dollars in a taxable year.
    11    (c)  Eligibility.  A taxpayer shall be eligible for the credit allowed
    12  pursuant to this subdivision if such taxpayer is a food  service  estab-
    13  lishment as such term is defined in paragraph (d) of this subdivision.
    14    (d)  Definitions. (i) The term "food service establishment" shall mean
    15  a place where food is  prepared  and  intended  for  individual  portion
    16  service  and  includes  the  site  at  which the individual portions are
    17  provided, whether consumption occurs on or off the premises.  Such  term
    18  shall  not  include  food processing establishments, retail food stores,
    19  private homes where food is prepared or served for  family  consumption,
    20  and  food  service  operations where a distinct group mutually provides,
    21  prepares, serves, and consumes the food limited to a congregation, club,
    22  or fraternal organization.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03555-01-9
        S. 751                              2
     1    (ii) The term "New  York  produced  farm  products"  shall  mean  farm
     2  products  grown,  produced, or harvested in New York state by an associ-
     3  ation of producers or growers that  produce  or  grow  eggs,  livestock,
     4  fish,  dairy  products  (excluding  milk), juice, grains, and species of
     5  fresh fruits and vegetables.
     6    (e)  Carryover.  If the amount of credit allowable under this subdivi-
     7  sion for any taxable year shall exceed the taxpayer's tax for such year,
     8  the excess may be carried over to the following year or years,  and  may
     9  be deducted from the taxpayer's tax for such year or years.
    10    § 2. This act shall take effect immediately.