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Bill > A05722
NY A05722
NY A05722Extends eligibility for the agricultural property tax credit to farmers having a leasehold interest of not fewer than five continuous years in qualified agricultural property.
summary
Introduced
02/24/2021
02/24/2021
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
Extends eligibility for the agricultural property tax credit to farmers having a leasehold interest of not fewer than five continuous years in qualified agricultural property.
AI Summary
This bill extends eligibility for the agricultural property tax credit to farmers who have a leasehold interest of at least 5 continuous years in qualified agricultural property, in addition to farmers who own the property or have a land contract for its future purchase. The bill amends the Tax Law to allow this new category of eligible farmers to claim the credit for school district property taxes paid on the qualified agricultural land. The bill also makes technical changes to the definitions of "eligible farmer" and "excess federal gross income" related to the tax credit.
Committee Categories
Budget and Finance
Sponsors (16)
Steve Hawley (R)*,
Fred Thiele (D)*,
Joe Angelino (R),
Jake Ashby (R),
Marjorie Byrnes (R),
Joe DeStefano (R),
Dave DiPietro (R),
Jeff Gallahan (R),
Josh Jensen (R),
John Lemondes (R),
Brian Manktelow (R),
Dave McDonough (R),
Angelo Morinello (R),
Mike Norris (R),
Phil Palmesano (R),
John Salka (R),
Last Action
held for consideration in ways and means (on 06/01/2022)
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/A5722 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A05722&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A05722 |
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