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NY A10352

Bill

Official Source

Status

Introduced

5/24/2012

Primary Sponsor

David Weprin

Click for details

Origin

Assembly

2011-2012 General Assembly

AI Summary

  • Amends Tax Law Section 1201-a to extend the expiration date for cities with a population of one million or more to offer a biotechnology tax credit
  • Changes the credit authorization expiration from January 1, 2013 to January 1, 2016
  • Credit remains limited to a maximum of three consecutive calendar years per taxpayer
  • Credit applies to general corporation tax, unincorporated business tax, and banking corporation tax
  • Takes effect immediately upon enactment

Legislative Description

Extends the authorization of New York City to provide a biotechnology credit against the general corporation tax, unincorporated business tax, and banking corporation tax of such city.

Last Action

substituted by s7462

6/19/2012

Committee Referrals

Rules6/18/2012
Ways and Means5/24/2012

Full Bill Text

No bill text available