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- Referred to investigations and government operations
- Referred to investigations and government operations
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Sponsor's memo
BILL NUMBER:S3475
Title of bill
An act to amend the tax law, in relation to providing for a credit against the personal income tax and the franchise tax on corporations for certain bottling, packaging and labelling expenses of wineries
Purpose or general idea of bill
To alleviate the financial burden upon the wine industry by New York State subsidizing part of the cost of wine making.
Summary of specific provisions
Section 210 of the tax law is amended by adding subdivision 18 (a). Tax Law Section 606 is amended by adding a new subsection (vv).
Justification
The major wine producing countries, Spain, France, Portu- gal, Italy, and Germany all provide the cases, the labels, the corks and bottles as a subsidy to their wine industry. For that reason, those nations can ship to this country wines which are able to sell at an average of between $2,60 and $3.00 a bottle less than New York State wines. A New York State tax credit would enable New York State vintners to compete nationally and internationally in this competitive but controlled marketplace. Experts predict subsidies compatible to the European subsidies would enable the wine industry in New York State to grow so that sales would be 1525 times their current levels in the next 10 years. New York State Vintners utilize a growing process which is virtually chemical and pesticide free. Encouraging this wine industry expansion in New York would also trigger wine industry economic develop- ment through agricultural expansions.
Prior legislative history
1991-92: S.2776-A, 1993-94: S.3912-A, 1995- 96: S.3536-A,1997-98: S.1481,1999-00: S.2327, 2001-02: S.2571,2003-04: S.1791, 2005-06: S.1557-A;2007-08, S.1256; 2009-10 S.2919; 2011-12 S.3906.
Fiscal implications
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.