What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
History
- Referred to investigations and government operations
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6135
Title of bill
An act to amend the tax law, in relation to qualified emerging technology company facilities, operations, and training credit
Purpose or general idea of bill
This bill extends the qualified emerging technology company facilities, operations and training credit for one year.
Summary of specific provisions
Relates to the qualified emerging technology company facilities, operations and training credit. This bill amends sections 210.12-G(h) and 606(nn)(8) to extend the sunset of the corporate franchise tax (Article 9-A) and personal income tax (Article 22) qualified emerging technologies company training credit for 1 year. The credit would sunset for taxable years beginning after December 31, 2012.
Existing law
This credit expired and will not be allowed for taxable years beginning on and after January 1, 2012.
Justification
These parts of New York State Tax Law deal with three tax credits for small companies and individuals engaged in high-technology fields: a research and development property credit, a qualified research expenses credit, and a qualified high technology training credit.
This bill extends the availability of these credits for one year.
Prior legislative history
S-5633-B - Passed Senate - Veto #86 of 2011 2011: A.7705-B - Passed Assembly Veto #86 of 2011
Fiscal implications
To be determined.
Effective date
Immediately and applies to taxable years beginning on and after January 1, 2012.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.