Loading chat...

NY A09110

Bill

Official Source

Status

Introduced

1/25/2012

Primary Sponsor

Steven Englebright

Click for details

Origin

Assembly

2011-2012 General Assembly

AI Summary

  • Increases the maximum historic preservation tax credit from $5 million to $12 million for taxable years beginning January 1, 2010 through December 31, 2014
  • Applies the increased $12 million cap to credits based on 100 percent of federal historic structure credits under Internal Revenue Code Section 47(a)(2)
  • Reduces the credit to 30 percent of federal credits with a $100,000 maximum cap for taxable years beginning January 1, 2015 and thereafter
  • Modifies the credit provisions in four sections of New York Tax Law (sections 606, 210, 1456, and 1511)
  • Takes effect immediately and applies to taxable years beginning on or after January 1, 2012

Legislative Description

Increases the maximum award available under the historic preservation tax credit from five million dollars to twelve million dollars.

Last Action

substituted by s6134

6/19/2012

Committee Referrals

Rules6/18/2012
Ways and Means1/25/2012

Full Bill Text

No bill text available