Int 0956-2015
Extending the biotechnology credit against the unincorporated business tax and the general corporation tax.
IntroductionEnactedCommittee on Financeintroduced 2015-10-15Local Law 2015/111
Enacted as Local Law 2015/111.
Official record · Legistar
Agenda: 2015-10-15Passed: 2015-11-30Enacted: 2015-11-30
Summary
This bill would extend the biotechnology tax credit against the unincorporated business tax and the general corporation tax through December 31, 2018.
Committee on Finance — Executive Budget review and Budget modification, Banking Commission, Comptroller's Office, Department of Finance, Independent Budget Office, Office of Administrative Tax Appeal, and fiscal policy and revenue from any source.
How it compares
66% of similar bills passed
33 passed · 17 died
This bill: 39 days in committee
Similar bills: median 58 days · 27 days when passed
Compared against 50 Introduction bills in Committee on Finance.
Ranked by how closely each matches this bill's topic — closest first:
Int 0926-2012
Extending the biotechnology credit against the general corporation tax, and the unincorporated business tax.
88dEnacted
Int 1065-2009
Providing a biotechnology credit against the general corporation tax, and the unincorporated business tax.
27dEnacted
Int 1070-2023
A biotechnology credit against the general corporation tax, the unincorporated business tax, and the corporate tax of 2015.
159dEnacted
Int 0591-2007
Increasing the credit against the city personal income tax on residents for such residents’ share of city unincorporated business tax paid by partnerships in which such residents are partners or businesses of which such residents are proprietors.
17dEnacted
Int 0766-2000
General Corporation Tax
557dFiled
Int 0942-2001
General Corporation Tax
75dEnacted
+ 44 more comparable bills
Sponsors (13)
Lifecycle
IntroducedIntroduced by Council
2015-10-15 · City Council
ActionReferred to Comm by Council
2015-10-15 · City Council
HeardHearing Held by Committee
2015-10-22 · Committee on Finance
ActionAmendment Proposed by Comm
2015-10-22 · Committee on Finance
HeldLaid Over by Committee
2015-10-22 · Committee on Finance
HeardHearing Held by Committee
2015-11-24 · Committee on Finance
ActionAmendment Proposed by Comm
2015-11-24 · Committee on Finance
ActionAmended by Committee
2015-11-24 · Committee on Finance
AdvancedApproved by Committee
2015-11-24 · Committee on Finance
AdvancedApproved by Council
2015-11-24 · City Council
ActionSent to Mayor by Council
2015-11-24 · City Council
HeardHearing Held by Mayor
2015-11-30 · Mayor
AdvancedSigned Into Law by Mayor
2015-11-30 · Mayor
ActionRecved from Mayor by Council
2015-11-30 · City Council
Votes (11)
Aye (9)
Helen K. RosenthalVanessa L. GibsonJulissa Ferreras-CopelandMark LevineSteven MatteoCorey D. JohnsonLaurie A. CumboYdanis A. RodriguezJames G. Van Bramer
Absent (2)
I. Daneek MillerRobert E. Cornegy, Jr.
Heard at (4)
City Council · 2015-11-24 · 1:30 PM · Council Chambers - City Hall
Committee on Finance · 2015-11-24 · 10:00 AM · Committee Room - City Hall
Committee on Finance · 2015-10-22 · 10:00 AM · 250 Broadway - Committee Rm, 16th Fl.
City Council · 2015-10-15 · 1:30 PM · Council Chambers - City Hall
Attachments (17)
- Legislative History Report
- Summary of Int. No. 956
- October 15, 2015 - Stated Meeting Agenda with Links to Files
- Int. No. 956 - 10/15/15
- Committee Report 10/22/15
- Hearing Testimony 10/22/15
- Hearing Transcript 10/22/15
- Proposed Int. No. 956-A - 11/17/15
- Committee Report 11/24/15
- Hearing Transcript 11/24/15
- November 24, 2015 - Stated Meeting Agenda with Links to Files
- Fiscal Impact Statement
- Mayor's Letter
- Int. No. 956-A - FINAL
- Hearing Transcript of the Stated Meeting - November 24, 2015
- Minutes of the Stated Meeting - November 24, 2015
- Local Law 111
Full text
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
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