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Sponsors
1 Co-sponsor
History
- Referred to investigations and government operations
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.
Relates to supplemental brownfield credit reporting
In Senate Committee · Investigations And Government Operations · Sponsor Linda Rosenthal
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7281
Title of bill
An act to amend the tax law, in relation to supplemental brownfield credit reporting
Purpose or general idea of bill
The purpose of this legislation is to require the New York State Department of Tax and Finance, along with the Department of Environmental Conservation, to publish a supplemental brownfield credit report regarding for the years 2005, 2006 and 2007.
Summary of specific provisions
Section 171-r of the tax law is amended by adding a new subdivision (e).
Justification
Tax credits offered as part of the Brownfield Cleanup Program encourage the private sector to clean up sites that are contaminated by hazardous waste, petroleum or other contaminants. Developers become eligible to apply for these tax credits upon successfully completing the cleanup.
Although the first tax credits under the program were claimed in 2005, the department did not begin reporting data on these tax credits until 2008. Therefore, this legislation would require the Department of Tax and Finance, in consultation with the Department of Environmental Conservation, to publish a supplemental credit report detailing tax credits data for years 2005, 2006 and 2007.
Prior legislative history
A.10385 of 2011-2012
Fiscal implications
Undetermined
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.