New York S 23: Expands a certain tax credit for farmers to include the cost of construction of housing for farm workers

Bill Text

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S00023 Summary:

BILL NOS00023 

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SAME ASSAME AS A00297

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SPONSORTEDISCO

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COSPNSRBORRELLO, GALLIVAN, GRIFFO, HELMING, OBERACKER, RHOADS, ROLISON

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MLTSPNSR

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Amd §§210-B & 606, Tax L

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Expands a certain tax credit for farmers to include the cost of construction of housing for farm workers.

Go to top S00023 Actions:

BILL NOS00023 

&nbsp

01/08/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS00023 Committee&nbspVotes:

Go to topS00023 Floor&nbspVotes:

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

Go to topS00023 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 23

 2025-2026 Regular Sessions

 IN SENATE

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by Sens. TEDISCO, BORRELLO, GALLIVAN, GRIFFO, HELMING, OBER-
 ACKER, RHOADS, ROLISON -- read twice and ordered printed, and when
 printed to be committed to the Committee on Budget and Revenue

 AN ACT to amend the tax law, in relation to expanding a certain tax
 credit for farmers to include the cost of construction housing for
 farm workers

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

 1 Section 1. Subparagraph (i) of paragraph (b) of subdivision 1 of
 2 section 210-B of the tax law, as amended by section 2 of part P of chap-
 3 ter 59 of the laws of 2017, is amended to read as follows:
 4 (i) A credit shall be allowed under this subdivision with respect to
 5 tangible personal property and other tangible property, including build-
 6 ings and structural components of buildings, which are: depreciable
 7 pursuant to section one hundred sixty-seven of the internal revenue
 8 code, have a useful life of four years or more, are acquired by purchase
 9 as defined in section one hundred seventy-nine (d) of the internal
 10 revenue code, have a situs in this state and are (A) principally used by
 11 the taxpayer in the production of goods by manufacturing, processing,
 12 assembling, refining, mining, extracting, farming, agriculture, horti-
 13 culture, floriculture, viticulture or commercial fishing, (B) industrial
 14 waste treatment facilities or air pollution control facilities, used in
 15 the taxpayer's trade or business, (C) research and development property,
 16 or (D) principally used in the ordinary course of the taxpayer's trade
 17 or business as a broker or dealer in connection with the purchase or
 18 sale (which shall include but not be limited to the issuance, entering
 19 into, assumption, offset, assignment, termination, or transfer) of
 20 stocks, bonds or other securities as defined in section four hundred
 21 seventy-five (c)(2) of the Internal Revenue Code, or of commodities as
 22 defined in section four hundred seventy-five (e) of the Internal Revenue

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00176-01-5

 S. 23 2

 1 Code, (E) principally used in the ordinary course of the taxpayer's
 2 trade or business of providing investment advisory services for a regu-
 3 lated investment company as defined in section eight hundred fifty-one
 4 of the Internal Revenue Code, or lending, loan arrangement or loan orig-
 5 ination services to customers in connection with the purchase or sale
 6 (which shall include but not be limited to the issuance, entering into,
 7 assumption, offset, assignment, termination, or transfer) of securities
 8 as defined in section four hundred seventy-five (c)(2) of the Internal
 9 Revenue Code, (F) principally used in the ordinary course of the taxpay-
 10 er's business as an exchange registered as a national securities
 11 exchange within the meaning of sections 3(a)(1) and 6(a) of the Securi-
 12 ties Exchange Act of 1934 or a board of trade as defined in subparagraph
 13 one of paragraph (a) of section fourteen hundred ten of the not-for-pro-
 14 fit corporation law or as an entity that is wholly owned by one or more
 15 such national securities exchanges or boards of trade and that provides
 16 automation or technical services thereto, or (G) principally used as a
 17 qualified film production facility including qualified film production
 18 facilities having a situs in an empire zone des