File #: Int 0956-2015    Version: Name: Extending the biotechnology credit against the unincorporated business tax and the general corporation tax.
Type: Introduction Status: Enacted
Committee: Committee on Finance
On agenda: 10/15/2015
Enactment date: 11/30/2015 Law number: 2015/111
Title: A Local Law to amend the administrative code of the city of New York, in relation to extending the biotechnology credit against the unincorporated business tax and the general corporation tax
Sponsors: Daniel R. Garodnick, Julissa Ferreras-Copeland, Costa G. Constantinides, Vincent J. Gentile, Peter A. Koo, Rosie Mendez, Annabel Palma, Inez E. Dickens, Paul A. Vallone, Mathieu Eugene, David G. Greenfield, Ben Kallos, Ruben Wills
Council Member Sponsors: 13
Summary: This bill would extend the biotechnology tax credit against the unincorporated business tax and the general corporation tax through December 31, 2018.
Attachments: 1. Legislative History Report, 2. Summary of Int. No. 956, 3. October 15, 2015 - Stated Meeting Agenda with Links to Files, 4. Int. No. 956 - 10/15/15, 5. Committee Report 10/22/15, 6. Hearing Testimony 10/22/15, 7. Hearing Transcript 10/22/15, 8. Proposed Int. No. 956-A - 11/17/15, 9. Committee Report 11/24/15, 10. Hearing Transcript 11/24/15, 11. November 24, 2015 - Stated Meeting Agenda with Links to Files, 12. Fiscal Impact Statement, 13. Mayor's Letter, 14. Int. No. 956-A - FINAL, 15. Hearing Transcript of the Stated Meeting - November 24, 2015, 16. Minutes of the Stated Meeting - November 24, 2015, 17. Local Law 111
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
11/30/2015ADaniel R. Garodnick City Council Recved from Mayor by Council  Action details Meeting details Not available
11/30/2015ADaniel R. Garodnick Mayor Signed Into Law by Mayor  Action details Meeting details Not available
11/30/2015ADaniel R. Garodnick Mayor Hearing Held by Mayor  Action details Meeting details Not available
11/24/2015ADaniel R. Garodnick City Council Sent to Mayor by Council  Action details Meeting details Not available
11/24/2015ADaniel R. Garodnick City Council Approved by CouncilPass Action details Meeting details Not available
11/24/2015*Daniel R. Garodnick Committee on Finance Hearing Held by Committee  Action details Meeting details Not available
11/24/2015*Daniel R. Garodnick Committee on Finance Amendment Proposed by Comm  Action details Meeting details Not available
11/24/2015*Daniel R. Garodnick Committee on Finance Amended by Committee  Action details Meeting details Not available
11/24/2015ADaniel R. Garodnick Committee on Finance Approved by CommitteePass Action details Meeting details Not available
10/22/2015*Daniel R. Garodnick Committee on Finance Hearing Held by Committee  Action details Meeting details Not available
10/22/2015*Daniel R. Garodnick Committee on Finance Amendment Proposed by Comm  Action details Meeting details Not available
10/22/2015*Daniel R. Garodnick Committee on Finance Laid Over by Committee  Action details Meeting details Not available
10/15/2015*Daniel R. Garodnick City Council Referred to Comm by Council  Action details Meeting details Not available
10/15/2015*Daniel R. Garodnick City Council Introduced by Council  Action details Meeting details Not available

Int. No. 956-A

 

By Council Members Garodnick, Ferreras-Copeland, Constantinides, Gentile, Koo, Mendez, Palma, Dickens, Vallone, Eugene, Greenfield, Kallos and Wills

 

A Local Law to amend the administrative code of the city of New York, in relation to extending the biotechnology credit against the unincorporated business tax and the general corporation tax

 

Be it enacted by the Council as follows:

 

Section 1. Subparagraph 8 of paragraph (a) of subdivision (o) of section 11-503 of the administrative code of the city of New York, as amended by local law number 61 for the year 2012, is amended to read as follows:

(8) The credit allowed under this subdivision shall only be allowed for taxable years beginning on or after January first, two thousand ten and before January first, two thousand [sixteen]nineteen.

§2. Subparagraph 8 of paragraph (a) of subdivision 21 of section 11-604 of the administrative code of the city of New York, as amended by local law number 61 for the year 2012, is amended to read as follows:

(8) The credit allowed under this subdivision shall only be allowed for taxable years beginning on or after January first, two thousand ten and before January first, two thousand [sixteen]nineteen.

§ 3. Section 5 of local law number 67 for the year 2009, as amended by local law number 61 for the year 2012, is amended to read as follows:

§ 5. This local law shall take effect immediately; provided, however, that this local law shall apply to taxable years beginning on or after January 1, 2010 and before January 1, [2016]2019.

§ 4. This local law shall take effect immediately and, if it shall have become a law after December 31, 2015, shall be retroactive to and deemed to have been in full force and effect as of December 31, 2015.

 

RC 10-2-15, amended 10-20-15

LS #3669