New York A 142: Relates to establishing a mollusk shell recycling tax credit

Bill Text

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A00142 Summary:

BILL NOA00142 

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SAME ASSAME AS S06883

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SPONSORRosenthal (MS)

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COSPNSRSimon, Glick, Weprin, Jacobson, Stirpe, Carroll R, Epstein, Colton, Bores

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MLTSPNSRFitzpatrick

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Amd §§210-B & 606, Tax L; amd §3-0301, En Con L

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Establishes a mollusk shell recycling tax credit; directs DEC to promulgate necessary regulations.

Go to top A00142 Actions:

BILL NOA00142 

&nbsp

01/08/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA00142 Committee&nbspVotes:

Go to topA00142 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA00142 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 142

 2025-2026 Regular Sessions

 IN ASSEMBLY

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by M. of A. ROSENTHAL, SIMON, GLICK, WEPRIN, JACOBSON,
 STIRPE, BENDETT, R. CARROLL, EPSTEIN, COLTON, BORES -- Multi-Sponsored
 by -- M. of A. FITZPATRICK -- read once and referred to the Committee
 on Ways and Means

 AN ACT to amend the tax law and the environmental conservation law, in
 relation to establishing a bivalve mollusk shell recycling tax credit

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 210-B of the tax law is amended by adding a new
 2 subdivision 61 to read as follows:
 3 61. Bivalve mollusk shell recycling credit. A taxpayer shall be
 4 allowed a credit, to be computed as hereinafter provided against the tax
 5 imposed by this article, for the recycling of bivalve mollusk shells.
 6 The amount of the credit shall be the lesser of one thousand dollars, or
 7 ten cents multiplied by the number of pounds of mollusk shells certified
 8 by the New York state department of environmental conservation. The
 9 credit allowed under this subdivision for any taxable year shall not
 10 reduce the tax due for such year to less than the fixed dollar minimum
 11 amount prescribed in paragraph (d) of subdivision one of section two
 12 hundred ten of this article. In order for a taxpayer to qualify for this
 13 credit, the shells shall be donated to an entity or organization permit-
 14 ted by the department of environmental conservation to reuse such shells
 15 for the beneficial use of oyster reef restoration.
 16 § 2. Section 606 of the tax law is amended by adding a new subsection
 17 (qqq) to read as follows:
 18 (qqq) Bivalve mollusk shell recycling credit. (1) A taxpayer shall be
 19 allowed a credit, to be computed as hereinafter provided against the tax
 20 imposed by this article, for the recycling of bivalve mollusk shells.
 21 (2) The amount of the credit shall be the lesser of one thousand
 22 dollars, or ten cents multiplied by the number of pounds of bivalve

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01335-01-5

 A. 142 2

 1 mollusk shells certified by the New York state department of environ-
 2 mental conservation.
 3 (3) In order for a taxpayer to qualify for this credit, the shells
 4 shall be donated to an entity or organization permitted by the depart-
 5 ment of environmental conservation to reuse such shells for the benefi-
 6 cial use of oyster reef restoration.
 7 § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 8 of the tax law is amended by adding a new clause (lii) to read as
 9 follows:
 10 (lii) Bivalve mollusk Amount of credit under subdivision
 11 shell recycling credit under sixty-one of section two
 12 subsection (qqq) hundred ten-B
 13 § 4. Subdivision 1 of section 3-0301 of the environmental conservation
 14 law is amended by adding a new paragraph ee to read as follows:
 15 ee. Establish rules and regulations regarding the verification and
 16 certification of bivalve mollusk shells returned to the department for
 17 recycling pursuant to the bivalve mollusk shell recycling tax credit
 18 provided in sections two hundred ten-B and six hundred six of the tax
 19 law and for such shells to be reused in the process of oyster reef
 20 restoration.
 21 § 5. This act shall take effect immediately and shall apply to taxable
 22 years beginning on or after January 1, 2025.

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