How A142 changes current law

Compared against the New York Consolidated Laws as published AI-generated reading aid — verify against the official bill.

This bill amends 1 section(s) of the New York Consolidated Laws: Section 210-B of the tax law.

• Section 210-B of the tax law

  61. Bivalve mollusk shell recycling credit. A taxpayer shall be allowed a credit, to be computed as hereinafter provided against the tax imposed by this article, for the recycling of bivalve mollusk shells. The amount of the credit shall be the lesser of one thousand dollars, or ten cents multiplied by the number of pounds of mollusk shells certified by the New York state department of environmental conservation. The credit allowed under this subdivision for any taxable year shall not reduce the tax due for such year to less than the fixed dollar minimum amount prescribed in paragraph (d) of subdivision one of section two hundred ten of this article. In order for a taxpayer to qualify for this credit, the shells shall be donated to an entity or organization permit- ted by the department of environmental conservation to reuse such shells for the beneficial use of oyster reef restoration. (qqq) Bivalve mollusk shell recycling credit. (1) A taxpayer shall be allowed a credit, to be computed as hereinafter provided against the tax imposed by this article, for the recycling of bivalve mollusk shells. (2) The amount of the credit shall be the lesser of one thousand dollars, or ten cents multiplied by the number of pounds of bivalve italics mollusk shells certified by the New York state department of environ- mental conservation. (3) In order for a taxpayer to qualify for this credit, the shells shall be donated to an entity or organization permitted by the depart- ment of environmental conservation to reuse such shells for the benefi- cial use of oyster reef restoration. (lii) Bivalve mollusk Amount of credit under subdivision shell recycling credit under sixty-one of section two subsection (qqq) hundred ten-B ee. Establish rules and regulations regarding the verification and certification of bivalve mollusk shells returned to the department for recycling pursuant to the bivalve mollusk shell recycling tax credit provided in sections two hundred ten-B and six hundred six of the tax law and for such shells to be reused in the process of oyster reef restoration.

  amended