Bill Text: NY S07368 | 2011-2012 | General Assembly | Introduced

New York Senate Bill 7368 (Prior Session Legislation)

Introduced

Bill Title: Extends the deadline for remediation certificates to be filed relating to certain brownfield redevelopment tax credits, remediated brownfield credit for real property taxes for qualified sites and environmental remediation insurance credits.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-05-02 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S07368 Detail]

Download: New_York-2011-S07368-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7368
                                   I N  S E N A T E
                                      May 2, 2012
                                      ___________
       Introduced  by  Sen.  MARCELLINO  -- read twice and ordered printed, and
         when printed to be committed to the Committee  on  Investigations  and
         Government Operations
       AN  ACT  to  amend  chapter  1 of the laws of 2003, amending the tax law
         relating to brownfield redevelopment tax  credits,  remediated  brown-
         field  credit  for  real  property taxes for qualified sites, environ-
         mental remediation insurance credits, and amending  the insurance  law
         relating  to  qualification of environmental remediation insurance for
         tax credit; in relation to the applicability of certain tax credits
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Section  31  of  part H of chapter 1 of the laws of 2003,
    2  amending the tax law relating to brownfield redevelopment  tax  credits,
    3  remediated  brownfield  credit  for  real  property  taxes for qualified
    4  sites, environmental remediation insurance  credits,  and  amending  the
    5  insurance  law  relating  to  qualification of environmental remediation
    6  insurance for tax credit, is amended to read as follows:
    7    S 31. The tax credits allowed under section 21, 22 or 23  of  the  tax
    8  law  and  the corresponding provisions in articles 9, 9-A, 22, 32 and 33
    9  of the tax law, as added by the provisions of sections one through twen-
   10  ty-nine of this act, shall not be applicable if the remediation  certif-
   11  icate  required to qualify for any of such credits is issued after March
   12  31, [2015] 2030.
   13    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15696-01-2