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Bill > A00797
NY A00797
NY A00797Provides that excess investment tax credit amounts may be refundable to operators of a farm operation.
summary
Introduced
01/11/2023
01/11/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 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 operators of farm operations to receive a refund for any excess investment tax credit amounts that exceed their tax due for taxable years beginning on or after January 1, 2023. The term "farm operation" is defined as in the Agriculture and Markets Law. This provides additional financial support to farmers by allowing them to recover unused tax credits rather than carrying them forward.
Committee Categories
Budget and Finance
Sponsors (13)
Aileen Gunther (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),
John McDonald (D),
Brian Miller (R),
Phil Palmesano (R),
Phil Steck (D),
Last Action
referred to ways and means (on 01/03/2024)
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/2023/A797 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A00797&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A00797 |
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