Bill
Bill > A00068
NY A00068
NY A00068Provides that excess investment tax credit amounts may be refundable to operators of a farm operation.
summary
Introduced
01/06/2021
01/06/2021
In Committee
01/05/2022
01/05/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to providing that excess investment tax credit amounts may be refundable to operators of a farm operation
AI Summary
This bill allows farm operators to receive a refund for any excess investment tax credit amounts that exceed their tax liability. The bill amends the tax law to specify that for tax years beginning on or after January 1, 2021, if a taxpayer's primary income is from operating a farm, they can elect to treat the amount by which their investment tax credit exceeds their tax due as an overpayment to be refunded. The term "farm operation" is defined as it is in the Agriculture and Markets Law.
Committee Categories
Budget and Finance
Sponsors (19)
Will Barclay (R)*,
Joe Giglio (R)*,
Andy Goodell (R)*,
Aileen Gunther (D)*,
Steve Hawley (R)*,
Phil Ramos (D)*,
José Rivera (D)*,
Michael Benedetto (D),
Ken Blankenbush (R),
Karl Brabenec (R),
Vivian Cook (D),
Chris Friend (R),
Billy Jones (D),
John Lemondes (R),
Donna Lupardo (D),
Brian Miller (R),
Michael Montesano (R),
Phil Palmesano (R),
Phil Steck (D),
Last Action
referred to ways and means (on 01/05/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/A68 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A00068&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A00068 |
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