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A09009 Summary:

BILL NO    A09009 

SAME AS    
SAME AS UNI. S06409

SPONSOR    Budget

COSPNSR    

MLTSPNSR   


Amd Various Laws, generally


Enacts into law major components of legislation which are necessary
to
implement the state fiscal plan of the 2016-2017 state fiscal year; relates
to
transitioning the school tax relief (STAR) exemption into a personal
income
tax credit, and repeals subdivision 5 of section 520 of the real
property tax
law relating thereto (Part A); relates to the maximum amount of
tax savings
allowable under the STAR program (Part B); makes the income
verification
program mandatory (Part C); allows applications for exemptions to
be filed
after the taxable status date in certain cases (Part D); establishes a
new
school tax reduction credit for residents of a city with a population over
one
million (Part E); authorizes the commissioner of taxation and finance to
make
direct payments of STAR tax savings to property owners in certain cases
(Part
F); makes permanent, provisions relating to mandatory electronic filing
of tax
documents, improving sales tax compliance and updating tax preparer
penalties;
amends chapter 61 of the laws of 2011, amending the real property
tax law and
other laws relating to establishing standards for electronic
tax
administration, in relation to the effectiveness thereof; and repeals
certain
provisions of the tax law and the administrative code of the city of
New York
relating thereto (Part G); extends the credit against income tax for
persons
or entities investing in low-income housing (Part H); extends the hire
a
veteran credit for an additional two years (Part I); extends the empire
state
commercial production tax credit (Part J); amends chapter 604 of the laws
of
2011, amending the tax law relating to the credit for companies who
provide
transportation to people with disabilities, in relation to extending
the
expiration of such provision (Part K); amends part I of chapter 58 of the
laws
of 2006, amending the tax law relating to providing an enhanced earned
income
tax credit, in relation to making the enhanced earned income tax
credit
permanent (Part L); amends part N of chapter 61 of the laws of 2005
amending
the tax law relating to certain transactions and related information
and
relating to the voluntary compliance initiative, in relation to
permanently
extending the disclosure and penalty provisions for transactions
that present
the potential for tax avoidance (Part M); extends the clean
heating fuel
credit for three years and updates the credit to reflect new
minimum biodiesel
fuel thresholds (Part N); extends the excelsior jobs program
for five years
(Part O); makes corrections to the corporate tax reform
provisions (Part P);
relates to the time for filing reports (Part Q); relates
to the business
income base rate and expands the small business subtraction
modification (Part
R); enacts the "parental choice in education act" (Part S);
establishes a tax
credit for New York state thruway tolls (Part T); amends
chapter 109 of the
laws of 2006 amending the tax law and other laws relating to
providing
exemptions, reimbursements and credits from various taxes for
certain
alternative fuels, in relation to extending the alternative fuels
tax
exemptions for five years (Part U); exempts from alcoholic beverage
tax
certain alcoholic beverages furnished at no charge by certain licensees
to
customers or prospective customers at a tasting held in accordance with
the
alcoholic beverage control law, and expands the beer production credit
to
include wine, liquor and cider (Part V); authorizes jeopardy assessments
on
cigarette and tobacco product taxes assessed under article 20 of the tax
law
(Part W); allows room remarketers to purchase occupancies from hotel
operators
exempt from sales tax under certain circumstances (Part X); relates
to
charitable contributions and charitable activities being considered
in
determining domicile for estate tax purposes (Part Y); creates the
aviation
purpose account and ensures that the funds deposited in the aviation
purpose
account are used for airport improvement projects; provides for
the
distribution of revenues under section 301-e of the tax law; exempts sales
of
fuel sold for use in commercial aircraft and general aviation aircraft
from
the prepayment of sales tax imposed pursuant to the authority of
section
1102(a)(1) (ii) of the tax law; and excludes sales of fuel sold for use
in
commercial aircraft and general aviation aircraft from the operation of
sales
and use taxes imposed pursuant to the authority of section 1210(a) of the
tax
law (Part Z); relates to equine lab testing provider restrictions
removal
(Part AA); reduces purse amounts paid from the VLT program and
increases
racing regulatory fee (Part BB); relates to the timing of harness
track
reimbursements and other technical amendments (Part CC); relates to
the
payment of vendors' fees (Part DD); relates to vendor fees at vendor
tracks
(Part EE); relates to licenses for simulcast facilities, sums relating
to
track simulcast, simulcast of out-of-state thoroughbred races, simulcasting
of
races run by out-of-state harness tracks and distributions of wagers;
relates
to simulcasting, amending the racing, pari-mutuel wagering and breeding
law
and other laws relating to simulcasting and the imposition of certain
taxes,
in relation to extending certain provisions thereof; extends
certain
provisions thereof (Part FF); relates to capital awards to vendor
tracks (Part
GG); relates to allocations from the commercial gaming revenue
fund; relates
to commissions payable to certain vendor racetracks (Part HH).
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