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History
- Held for consideration in ways and means
- Print number 7205a
- Amend and recommit to ways and means
- Referred to ways and means
- Referred to ways and means
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Establishes a working farmland property tax credit for owners of agricultural assessment land within agricultural districts
In Senate Committee · Finance · Sponsor Catharine Young
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A7205A
Title of bill
An act to amend the tax law, the general municipal law, the real property tax law and the agriculture and markets law, in relation to the establishment of a working farmland property tax credit for owners of agricultural assessment land within agricultural districts
Purpose or general idea of bill
To establish a working farmland property tax credit for owners of agricultural districts.
Summary of specific provisions
The Tax Law, General Municipal Law, Real Property Tax Law and the Agriculture and Markets Law is amended to establish and structure program parameters for the Working Farmland Tax Credit. In exchange for a commitment to keep land in active agricultural use for eight years, an eligible landowner would be eligible for a state income tax credit equal to the total amount paid in school and local municipal property taxes less any credits claimed under the Farmers' School Tax Credit program,
Justification
The Working Farmland Tax Credit would complement New York's agricultural districts program by building a partnership between New York State, local governments and agricultural land owners to promote economic viability of our farm operations. The intent of this program is to encourage rural economic growth by encouraging active management of New York's agricultural land base and provide local governments with an optional tool to help support farms and complement their local land use policies. To date, four counties have recommended this concept in their Agriculture and Farmland Protection Plans,
Prior legislative history
04/25/07 REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS 06/05/07 REPORTED AND COMMITTED TO FINANCE 01/09/08 REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS 06/20/08 REPORTED AND COMMITTED TO FINANCE 06/10/08 COMMITTEE DISCHARGED AND COMMITTED TO RULES 06/10/08 ORDERED TO THIRD READING CAL. 1601 06/10/08 PASSED SENATE 06/10/08 DELIVERED TO ASSEMBLY 06110/08 referred to ways and means 06/12/08 RECALLED FROM ASSEMBLY 06/12/08 returned to senate 06/12/08 VOTE RECONSIDERED - RESTORED TO THIRD READING 06/12/08 AMENDED ON THIRD READING 5685A 06/18/08 REPASSED SENATE 06/18/08 RETURNED TO ASSEMBLY 06/18/08 referred to ways and means
Fiscal implications
Undetermined at this time.
Effective date
180 days after enactment into law and shall apply to taxable years beginning on January 1,2010.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.