- Summary
- Actions
- Committee Votes
- Floor Votes
- Memo
- Text
- LFIN
- Chamber Video/Transcript
S07508 Summary:
BILL NO | S07508 |
  | |
SAME AS | SAME AS A07692 |
  | |
SPONSOR | SEPULVEDA |
  | |
COSPNSR | |
  | |
MLTSPNSR | |
  | |
Amd 11-506, 11-602 & 11-652, NYC Ad Cd | |
  | |
Permits certain tax deductions related to the sale, production, or distribution of cannabis products. |
S07508 Actions:
BILL NO | S07508 | |||||||||||||||||||||||||||||||||||||||||||||||||
  | ||||||||||||||||||||||||||||||||||||||||||||||||||
06/02/2023 | REFERRED TO RULES | |||||||||||||||||||||||||||||||||||||||||||||||||
06/05/2023 | ORDERED TO THIRD READING CAL.1602 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/05/2023 | PASSED SENATE | |||||||||||||||||||||||||||||||||||||||||||||||||
06/05/2023 | DELIVERED TO ASSEMBLY | |||||||||||||||||||||||||||||||||||||||||||||||||
06/05/2023 | referred to ways and means | |||||||||||||||||||||||||||||||||||||||||||||||||
06/08/2023 | substituted for a7692 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/08/2023 | ordered to third reading rules cal.745 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/08/2023 | passed assembly | |||||||||||||||||||||||||||||||||||||||||||||||||
06/08/2023 | returned to senate | |||||||||||||||||||||||||||||||||||||||||||||||||
11/13/2023 | DELIVERED TO GOVERNOR | |||||||||||||||||||||||||||||||||||||||||||||||||
11/17/2023 | SIGNED CHAP.671 |
S07508 Committee Votes:
Go to topS07508 Floor Votes:
Yes
Alvarez
Yes
Carroll
No
Flood
Yes
Kim
No
Palmesano
Yes
Simpson
Yes
Anderson
Yes
Chandler-Waterm
Yes
Forrest
Yes
Lavine
Yes
Paulin
No
Slater
Yes
Angelino
No
Chang
No
Friend
Yes
Lee
Yes
Peoples-Stokes
Yes
Smith
Yes
Ardila
Yes
Clark
Yes
Gallagher
No
Lemondes
Yes
Pheffer Amato
No
Smullen
Yes
Aubry
Yes
Colton
No
Gallahan
Yes
Levenberg
No
Pirozzolo
Yes
Solages
Yes
Barclay
Yes
Conrad
Yes ‡
Gandolfo
Yes
Lucas
Yes
Pretlow
Yes
Steck
Yes
Barrett
Yes
Cook
Yes
Gibbs
Yes
Lunsford
No
Ra
Yes
Stern
No
Beephan
Yes
Cruz
No
Giglio JA
Yes
Lupardo
Yes
Raga
Yes
Stirpe
Yes
Bendett
Yes
Cunningham
Yes
Giglio JM
Yes
Magnarelli
Yes
Rajkumar
No
Tague
Yes
Benedetto
Yes
Curran
Yes
Glick
No
Maher
Yes
Ramos
No
Tannousis
Yes
Bichotte Hermel
Yes
Darling
Yes
Gonzalez-Rojas
Yes
Mamdani
No
Reilly
Yes
Tapia
Yes
Blankenbush
ER
Davila
Yes
Goodell
Yes
Manktelow
Yes
Reyes
Yes
Taylor
Yes
Blumencranz
Yes
De Los Santos
Yes
Gray
Yes
McDonald
Yes
Rivera
Yes
Thiele
Yes
Bores
No
DeStefano
Yes
Gunther
Yes ‡
McDonough
Yes
Rosenthal D
Yes
Vanel
Yes
Brabenec
Yes
Dickens
No
Hawley
No
McGowan
Yes
Rosenthal L
Yes
Walker
Yes
Braunstein
Yes
Dilan
ER
Hevesi
Yes
McMahon
ER
Rozic
Yes
Wallace
Yes
Bronson
Yes
Dinowitz
Yes
Hunter
Yes
Meeks
Yes
Santabarbara
No
Walsh
No
Brook-Krasny
No
DiPietro
Yes
Hyndman
Yes
Mikulin
Yes
Sayegh
Yes
Weinstein
No
Brown E
Yes
Durso
Yes
Jackson
No
Miller
Yes
Seawright
Yes
Weprin
ER
Brown K
Yes
Eachus
Yes
Jacobson
Yes
Mitaynes
Yes
Septimo
Yes
Williams
Yes
Burdick
No
Eichenstein
Yes
Jean-Pierre
Yes
Morinello
Yes
Shimsky
Yes
Woerner
Yes
Burgos
Yes
Epstein
No
Jensen
No
Norris
Yes
Shrestha
Yes
Zaccaro
Yes
Burke
Yes
Fahy
Yes
Jones
No
Novakhov
Yes
Sillitti
Yes
Zebrowski
Yes
Buttenschon
Yes
Fall
Yes
Joyner
ER
O'Donnell
Yes
Simon
Yes
Zinerman
Yes
Byrnes
No
Fitzpatrick
Yes
Kelles
Yes
Otis
Yes
Simone
Yes
Mr. Speaker
‡ Indicates voting via videoconference
S07508 Text:
Go to top STATE OF NEW YORK ________________________________________________________________________ 7508 2023-2024 Regular Sessions IN SENATE June 2, 2023 ___________ Introduced by Sen. SEPULVEDA -- (at request of the NYC Finance) -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the administrative code of the city of New York, in relation to permitting certain tax deductions related to the sale, production, or distribution of cannabis products The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision (c) of section 11-506 of the administrative 2 code of the city of New York is amended by adding a new paragraph 13 to 3 read as follows: 4 (13) For businesses authorized pursuant to the cannabis law to engage 5 in the sale, production, or distribution of (A) adult-use cannabis 6 products, as defined in article twenty-C of the tax law, or (B) medical 7 cannabis, as defined in section three of the cannabis law, the amount of 8 any federal deduction disallowed pursuant to section two hundred eight- 9 y-E of the internal revenue code related to the sale, production, or 10 distribution of such adult-use cannabis products or such medical canna- 11 bis not used as the basis for any other tax deduction, exemption, or 12 credit and not otherwise required to be added back by subdivision (b) of 13 this section in computing entire net income. 14 § 2. Paragraph (a) of subdivision 8 of section 11-602 of the adminis- 15 trative code of the city of New York is amended by adding a new subpara- 16 graph 17 to read as follows: 17 (17) for taxpayers authorized pursuant to the cannabis law to engage 18 in the sale, production, or distribution of (i) adult-use cannabis 19 products, as defined in article twenty-C of the tax law, or (ii) medical 20 cannabis, as defined in section three of the cannabis law, the amount of 21 any federal deduction disallowed pursuant to section two hundred eight- 22 y-E of the internal revenue code related to the sale, production, or 23 distribution of such adult-use cannabis products or such medical canna- EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD11715-01-3S. 7508 2 1 bis not used as the basis for any other tax deduction, exemption, or 2 credit and not otherwise required to be added back by paragraph (b) of 3 this subdivision in computing entire net income. 4 § 3. Paragraph (a) of subdivision 8 of section 11-652 of the adminis- 5 trative code of the city of New York is amended by adding a new subpara- 6 graph 18 to read as follows: 7 (18) for taxpayers authorized pursuant to the cannabis law to engage 8 in the sale, production, or distribution of (i) adult-use cannabis 9 products, as defined in article twenty-six-C of the tax law, or (ii) 10 medical cannabis, as defined in section three of the cannabis law, the 11 amount of any federal deduction disallowed pursuant to section two 12 hundred eighty-E of the internal revenue code related to the sale, 13 production, or distribution of such adult-use cannabis products or such 14 medical cannabis not used as the basis for any other tax deduction, 15 exemption, or credit and not otherwise required to be added back by 16 paragraph (b) of this subdivision in computing entire net income. 17 § 4. This act shall take effect immediately and shall be deemed to 18 have been in full force and effect on and after January 1, 2022. This 19 act shall apply to tax years beginning on or after January 1, 2022.