Provides that certain tax credits shall not apply if the certificate of remediation required to qualify for such credits is issued after December 31, 2015.
STATE OF NEW YORK
________________________________________________________________________
7788
IN SENATE
June 18, 2012
___________
Introduced by COMMITTEE ON RULES -- read twice and ordered printed, and
when printed to be committed to the Committee on Rules
AN ACT to amend part H of chapter 1 of the laws of 2003, amending the
tax law relating to brownfield redevelopment tax credits, remediated
brownfield credit for real property taxes for qualified sites and
environmental remediation insurance credits, in relation to extending
certain provisions thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 31 of part H of chapter 1 of the laws of 2003,
2 amending the tax law relating to brownfield redevelopment tax credits,
3 remediated brownfield credit for real property taxes for qualified sites
4 and environmental remediation insurance credits, is amended to read as
5 follows:
6 § 31. The tax credits allowed under section 21, 22 or 23 of the tax
7 law and the corresponding provisions in articles 9, 9-A, 22, 32 and 33
8 of the tax law, as added by the provisions of sections one through twen-
9 ty-nine of this act, shall not be applicable if the remediation certif-
10 icate required to qualify for any of such credits is issued after
11 [March] December 31, 2015.
12 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD16131-01-2
