Bill Text: NY S03481 | 2021-2022 | General Assembly | Introduced

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Bill Title: Creates a vending to food pantries and soup kitchens tax credit.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO BUDGET AND REVENUE [S03481 Detail]

Download: New_York-2021-S03481-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          3481

                               2021-2022 Regular Sessions

                    IN SENATE

                                    January 29, 2021
                                       ___________

        Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Budget and Revenue

        AN ACT to amend the tax law, in relation to creating a vending  to  food
          pantries and soup kitchens 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 28 to read as follows:
     3    28.  Vending to food pantry and soup kitchen tax credit. (a) Taxpayers
     4  who operate farms in the state of New York and sell fruits  and  vegeta-
     5  bles  grown in New York to food pantries and soup kitchens may claim the
     6  vending to food pantry and soup  kitchen  tax  credit  against  the  tax
     7  imposed  by this article at the close of the tax year provided, however,
     8  that the unused portion of any tax credit claimed shall not  be  carried
     9  forward and applied to another tax year.
    10    (b)  The  amount  of  the credit shall be fifty percent of the revenue
    11  earned by the farmer from the sale of fruits and vegetables grown in New
    12  York to food pantries and soup kitchens.
    13    (c) Taxpayers claiming the vending to food pantry and soup kitchen tax
    14  credit shall submit copies of the sales receipts with tax  returns  that
    15  claim a tax credit.
    16    §  2. Section 606 of the tax law is amended by adding a new subsection
    17  (kkk) to read as follows:
    18    (kkk) Vending to food pantry  and  soup  kitchen  tax  credit.  (1)  A
    19  taxpayer shall be allowed a credit against the tax imposed by this arti-
    20  cle  for  revenue  earned  by vending fruits and vegetables grown in New
    21  York to food pantries and soup kitchens, to be computed as  provided  in
    22  paragraph two of this subsection.
    23    (2)  The amount of credit shall be fifty percent of the revenue earned
    24  by the farmer from the sale of fruits and vegetables grown in  New  York
    25  to  food  pantries  and  soup  kitchens.  In  no  event shall the credit

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06689-01-1
        S. 3481                             2

     1  provided in this subsection be allowed in excess of the  taxpayer's  tax
     2  for such year.
     3    §  3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
     4  of the tax law is amended by adding a  new  clause  (xlvi)  to  read  as
     5  follows:
     6  (xlvi) Vending to food pantry        Amount of credit under subdivision
     7  and soup kitchen tax credit          twenty-eight of section two
     8  under subsection (kkk)               hundred ten-B
     9    §  4.  This act shall take effect immediately; provided, however, that
    10  the credits established by sections one, two and three of this act shall
    11  apply to taxable years beginning on or after January 1, 2022.