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Sponsors
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History
- Substituted by A10593
- Ordered to third reading cal.1522
- Referred to rules
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.
Provides that certain tax credits shall not apply if the certificate of remediation required to qualify for such credits is issued after December 31, 2015
Signed by Governor · Sponsor Robert Sweeney
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7788
Title of bill
An act to amend part H of chapter 1 of the laws of 2003, amending the tax law relating to brownfield redevelopment tax credits, remediated brownfield credit for real property taxes for qualified sites and environmental remediation insurance credits, in relation to extending certain provisions thereof
Purpose or general idea of bill
To extend certain tax credits for brownfield redevelopment.
Summary of specific provisions
This bill would extend, until December 31, 2015, the eligibility timeframe for brownfield tax credits.
Effects of present law which this bill would alter
This bill would amend § 31 of Part H of Chapter 1 of the Laws of 2003.
Justification
In 2003, the Legislature authorized tax credits as part of the Brownfield Cleanup Program. The authority for those credits is set to expire on March 31, 2015. This legislation will delay the sunset of those tax credits until December 31, 2015.
Prior legislative history
This is new legislation.
Fiscal implications for state and local governments
To be determined.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.