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Bill > S03639
NY S03639
NY S03639Provides that excess investment tax credit amounts may be refundable to operators of a farm operation.
summary
Introduced
01/30/2021
01/30/2021
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 amends the tax law to allow operators of a farm operation to treat any excess investment tax credit amounts that exceed their tax due as an overpayment that can be refunded, rather than just carrying the credit forward to future tax years. The term "farm operation" is defined as in the Agriculture and Markets Law. This change applies to taxable years beginning on or after January 1, 2021.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
REFERRED TO BUDGET AND REVENUE (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/S3639 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S03639&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S03639 |
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