What's happening
This bill makes technical corrections to the conservation easement tax credit, clarifying eligible property taxes and credit calculation.
Why it matters
Clarifies what property taxes qualify for the credit. The bill specifies that the conservation easement tax credit applies to all real property taxes paid on the land under easement, not just certain types (like school, county, or town taxes), potentially making it easier for landowners to understand and claim the credit.
Ensures the credit only applies to the land under easement. The language now clearly states that the credit is for taxes paid on the portion of land subject to the easement, preventing confusion or over-claiming for non-eased parcels.
Prevents double-dipping on tax credits. The amendments re-emphasize that the total credit claimed (including through other programs) cannot exceed the actual property taxes paid, closing potential loopholes and ensuring the credit is used as intended.
Streamlines administration and eligibility. By making these technical corrections, the bill aims to reduce ambiguity for both taxpayers and tax authorities, possibly resulting in fewer disputes, errors, or audits related to conservation easement credits.
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Who cares
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Fix Conservation Tax Credit
Plain English, a few words. Used as the page title.
Sponsors
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History
- Print number 3309a
- 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.
Fix Conservation Tax Credit
In Senate Committee · Investigations And Government Operations · Sponsor Carl L. Marcellino
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
3309--A
2017-2018 Regular Sessions
IN ASSEMBLY
January 27, 2017
Introduced by M. of A. THIELE -- read once and referred to the Committee on Ways and Means -- recommitted to the Committee on Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee
AN ACT to amend the tax law, in relation to making technical corrections to the conservation easement tax credit
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph 1 of subsection (kk) of section 606 of the tax law, as added by section 1 of part F of chapter 62 of the laws of 2006, is amended to read as follows:
(1) Credit allowed. In the case of a taxpayer who owns land that is subject to a conservation easement held by a public or private conservation agency, there shall be allowed a credit for twenty-five percent of the [allowable school district, county and town] real property taxes paid on [such] the land, or portion of the land, subject to the easement. In no event shall the credit allowed under this subsection in combination with any other credit for [such school district, county and town] real property taxes under this section exceed such taxes.
§ 2. Subdivision 22 of section 210-B of the tax law, as added by section 17 of part A of chapter 59 of the laws of 2014, is amended to read as follows:
22. Conservation easement tax credit. (a) Credit allowed. In the case of a taxpayer who owns land that is subject to a conservation easement held by a public or private conservation agency, there shall be allowed a credit for twenty-five percent of the [allowable school district, county and town] real property taxes paid on [such] the land, or portion of the land, subject to the easement. In no such case shall the credit allowed under this subdivision in combination with any other credit for
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02348-03-8
A. 3309--A 2
[such school district, county and town] real property taxes under this section exceed such taxes.
(b) Conservation easement. For purposes of this subdivision, the term "conservation easement" means a perpetual and permanent conservation easement as defined in article forty-nine of the environmental conservation law that serves to protect open space, scenic, natural resources, biodiversity, agricultural, watershed and/or historic preservation resources. Any conservation easement for which a tax credit is claimed under this subdivision shall be filed with the department of environmental conservation, as provided for in article forty-nine of the environmental conservation law and such conservation easement shall comply with the provisions of title three of such article, and the provisions of subdivision (h) of section 170 of the internal revenue code. Dedications of land for open space through the execution of conservation easements for the purpose of fulfilling density requirements to obtain subdivision or building permits shall not be considered a conservation easement under this subdivision.
(c) Land. For purposes of this subdivision, the term "land" means a fee simple title to real property located in this state, with or without improvements thereon; rights of way; water and riparian rights; easements; privileges and all other rights or interests of any land or description in, relating to or connected with real property, excluding buildings, structures, or improvements.
(d) Public or private conservation agency. For purposes of this subdivision, the term "public or private conservation agency" means any state, local, or federal governmental body; or any private not-for-profit charitable corporation or trust which is authorized to do business in the state of New York, is organized and operated to protect land for natural resources, conservation or historic preservation purposes, is exempt from federal income taxation under section 501(c)(3) of the internal revenue code, and has the power to acquire, hold and maintain land and/or interests in land for such purposes.
(e) Credit limitation. The amount of the credit that may be claimed by a taxpayer pursuant to this subsection shall not exceed five thousand dollars in any given year.
(f) Application of the credit. The credit allowed under this subdivision for any taxable year shall not reduce the tax due for such year to less than the fixed dollar minimum amount prescribed in paragraph (d) of subdivision one of section two hundred ten of this article. However, if the amount of the credit allowed under this subdivision for any taxable year reduces the tax to such amount or if the taxpayer otherwise pays tax based on the fixed dollar minimum amount, any amount of the credit thus not deductible in such taxable year shall be treated as an overpayment of tax to be credited or refunded in accordance with the provisions of subsection (c) of section one thousand eighty-eight of this chapter, except that, no interest shall be paid thereon.
§ 3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 of the tax law is amended by adding a new clause (xliv) to read as follows:
(xliv) Conservation easement Amount of credit under tax credit under subsection (kk) subdivision twenty-two of
section two hundred ten-B
§ 4. This act shall take effect immediately and shall be made applicable to taxable years commencing on and after January 1, 2019 and thereafter.
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