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NY A04512
Bill
Status
Introduced
2/5/2013
Primary Sponsor
Daniel Stec
Click for details
AI Summary
- Allows a 25% credit on real property taxes for landowners with at least 25 contiguous acres under a written Department of Environmental Conservation agreement for forestry stewardship, habitat conservation, or both
- Eligible tracts must be inspected and determined valuable for wildlife/fish/shellfish habitat or suitable for fish/wildlife recreation (fishing, hunting, trapping, wildlife observation)
- Requires agreements between landowners and the Department of Environmental Conservation for a minimum of five years, with obligations and benefits passing to successors in interest
- Limits annual credit to $10,000 per taxpayer, with excess treated as tax overpayment without interest
- Establishes the New York State Forestry Stewardship and Habitat Conservation Program and applies credit to both personal income tax (Section 606) and business franchise tax (Section 210)
Legislative Description
Establishes a forestry stewardship and habitat conservation credit for personal income and business franchise taxes.
Last Action
held for consideration in ways and means
6/17/2014
Committee Referrals
Ways and Means2/5/2013
Full Bill Text
No bill text available