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S02009 Summary:

BILL NO    S02009 





Amd Various Laws, generally

Relates to the maximum amount of savings allowable under the STAR exemption
program (Part A); relates to the New York city personal income tax rates (Part
B); relates to the suspension of STAR exemptions of property owned by persons
with outstanding tax liabilities (Part C); relates to transitioning the school
tax relief (STAR) exemption into a personal income tax credit, and to repeal
subdivision 5 of section 520 of the real property tax law relating thereto
(Part D); relates to recouping savings retrospectively from unlawfully claimed
exemptions removed during re-registration process (Part E); authorizes
homeowners who registered for the STAR exemption, but failed to file timely
exemption applications with their local assessors, to receive the benefit for
the 2014 exemption (Part F); provides additional property tax and renters
relief through a refundable income tax credit (Part G); makes permanent the
itemized deduction limitation applicable to incomes of ten million dollars or
greater (Part H); amends the personal income and MTA mobility tax statutes for
technical changes (Part I); adds a reporting requirement to the commercial
production tax credit (Part J); relates to the Excelsior Jobs Program and
significant capital investments (Part K); relates to costs includible in the
investment credit base for the investment tax credit on masters for films,
television shows and commercials (Part L); provides tax incentives for
employers employing at risk youth (Part M); relates to business income tax rate
(Part N); creates the employee training incentive program tax credit within the
excelsior tax credit program (Part O); imposes tax on wireless
telecommunications businesses pursuant to sections 184 and 184-a of the tax law
(Part P); relates to corporation tax refunds or credits (Part Q); extends and
reforms tax credits and reforms the Brownfields Clean Up Program (Part R);
incorporates the DOS biennial statement requirement into the corporate tax
return (Part S); makes corrections to the corporate tax reform provisions; and
repeals certain provisions of the tax law relating thereto (Part T); exempts
certain items of tangible personal property furnished to customers by certain
cider producers, breweries, and distilleries at tastings (Part U); relates to
the imposition of the sales and compensating use tax on prepaid mobile calling
services (Part V); reforms the industrial development authority program and
adds a tax clearance process (Part W); requires marketplace providers to
collect sales tax (Part X); closes certain sales and compensating use tax
avoidance strategies with regard to taxes imposed by and pursuant to the
authority of articles 28 and 29 of the tax law (Part Y); expands the solar
panel state and local sales and use tax exemptions (Part Z); allows a
reimbursement of the petroleum business tax for highway diesel motor fuel used
in farm production (Part AA); calculates the estate tax imposed under the tax
rate table, clarifies the phase out date for certain gift add backs and
disallows deductions relating to intangible personal property for estates of
non-resident decedents (Part BB); requires wholesalers of motor fuel to
register and file returns (Part CC); relates to warrantless income execution
provisions (Part DD); lowers the driver's license suspension threshold from
$10,000 to $5,000 (Part EE); extends certain provisions concerning the hospital
excess liability pool and requires a tax clearance for doctors and dentists to
be eligible for such excess coverage (Part FF); authorizes clearance of
past-due tax liabilities for state or local authority grant applicants (Part
GG); relates to reciprocal tax agreements with other states (Part HH);
authorizes multi-agency data sharing to enhance enforcement initiatives (Part
II); authorizes electronic tax clearances for professional and business
licenses (Part JJ); relates to tax clearances for applicants for civil service
employment (Part KK); authorizes the office of children and family services to
share certain child care subsidy data with the department of taxation and
finance (Part LL); relates to capital awards to vendor tracks (Part MM);
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; extends certain
provisions relating to simulcasting and the imposition of certain taxes (Part
NN); relates to video lottery gaming (Part OO); relates to a franchised
corporation (Part PP); reforms and combines the NYC general corporation and
bank taxes (Part QQ).
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