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File #: Int 0926-2012    Version: Name: Extending the biotechnology credit against the general corporation tax, and the unincorporated business tax.
Type: Introduction Status: Enacted
Committee: Committee on Finance
On agenda: 9/12/2012
Enactment date: 12/20/2012 Law number: 2012/061
Title: A Local Law to amend the administrative code of the city of New York, in relation to extending the biotechnology credit against the general corporation tax, and the unincorporated business tax.
Sponsors: Jessica S. Lappin, Daniel R. Garodnick, Gale A. Brewer, Lewis A. Fidler, Letitia James, Peter A. Koo, Brad S. Lander, Domenic M. Recchia, Jr., Ydanis A. Rodriguez, Maria Del Carmen Arroyo, James G. Van Bramer, Robert Jackson, Diana Reyna, Charles Barron, James F. Gennaro, David G. Greenfield, Jumaane D. Williams, Daniel J. Halloran III, Eric A. Ulrich
Council Member Sponsors: 19
Attachments: 1. Int. No. 926 - 9/12/12, 2. Committee Report, 3. Hearing Transcript, 4. Fiscal Impact Statement, 5. Hearing Transcript - Stated Meeting 12-10-12, 6. Mayor's Letter, 7. Local Law
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
12/20/2012AJessica S. Lappin City Council Recved from Mayor by Council  Action details Meeting details Not available
12/20/2012AJessica S. Lappin Mayor Signed Into Law by Mayor  Action details Meeting details Not available
12/20/2012AJessica S. Lappin Mayor Hearing Held by Mayor  Action details Meeting details Not available
12/10/2012AJessica S. Lappin City Council Sent to Mayor by Council  Action details Meeting details Not available
12/10/2012AJessica S. Lappin City Council Approved by CouncilPass Action details Meeting details Not available
12/10/2012*Jessica S. Lappin Committee on Finance Hearing Held by Committee  Action details Meeting details Not available
12/10/2012*Jessica S. Lappin Committee on Finance Amendment Proposed by Comm  Action details Meeting details Not available
12/10/2012*Jessica S. Lappin Committee on Finance Amended by Committee  Action details Meeting details Not available
12/10/2012AJessica S. Lappin Committee on Finance Approved by CommitteePass Action details Meeting details Not available
9/12/2012*Jessica S. Lappin City Council Introduced by Council  Action details Meeting details Not available
9/12/2012*Jessica S. Lappin City Council Referred to Comm by Council  Action details Meeting details Not available
Int. No. 926-A
 
By Council Members Lappin, Garodnick, Brewer, Fidler, James, Koo, Lander, Recchia, Rodriguez, Arroyo, Van Bramer, Jackson, Reyna, Barron, Gennaro, Greenfield, Williams, Halloran and Ulrich
 
 
A Local Law to amend the administrative code of the city of New York, in relation to extending the biotechnology credit against the general corporation tax, and the unincorporated business 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 added by local law number 67 for the year 2009, 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 [thirteen] sixteen.
§2. Subparagraph 8 of paragraph (a) of subdivision 21 of section 11-604 of the administrative code of the city of New York, as added by local law number 67 for the year 2009, 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 [thirteen] sixteen.
§ 3. Section 5 of local law number 67 for the year 2009 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, [2013] 2016.
§ 4. This local law shall take effect immediately and, if it shall have become a law after December 31, 2012, shall be retroactive to and deemed to have been in full force and effect as of December 31, 2012.
 
TE 11-28-12
LS#3996