| Enacts into law major components of legislation which are necessary to implement the state fiscal plan for the 2023-2024 state fiscal year; provides the authority to abate interest for taxpayers impacted by declared disasters (Part A); clarifies the definition of limited partner for the purposes of the metropolitan commuter transportation mobility tax; excludes passive investors from such definition (Part B); makes an investment tax credit refundable for eligible farmers for five years (Part C); extends and enhances the empire state film production credit and the empire state film post-production credit (Part D); provides for the abatement of penalties for underpayment of estimated tax by a corporation (Part E); requires business entities to submit an application for a COVID-19 capital costs tax credit by September 30, 2023 (Part F); establishes the child care creation and expansion tax credit for expanding child care programs (Part G); extends the authorization of a city having a population of one million or more to provide a biotechnology credit (Part H); extends the current corporate tax rates (Subpart A); extends the rehabilitation of historic properties tax credit (Subpart B); extends the empire state commercial production tax credit for five years (Subpart C); extends provisions of law relating to the grade No. 6 heating oil conversion tax credit (Subpart D); relates to the New York city musical and theatrical production tax credit (Subpart E)(Part I); makes technical corrections to the credit for companies who provide transportation to individuals with disabilities (Subpart A); amends eligibility for the brownfield redevelopment tax credit (Subpart B); makes technical correction to the pass-through entity tax and city pass-through entity tax (Subpart C) (Part J); extends provisions of law relating to oil and gas charges (Part L); eliminates the congestion surcharge registration requirements (Part P); requires the payment of taxes on motor fuel and diesel motor fuel, including the expansion of such fuel as a result of temperature fluctuation (Part Q); extends the sales tax exemption for certain sales made through vending machines for those operated by business enterprise program participants (Part R); increases the rate of taxes on cigarettes (Part S); relates to civil penalties for refusal of a cigarette and tobacco inspection, including revocation of registration certificates (Part T); relates to the deposit timeframe for moneys deposited by the commissioner of taxation and finance, including reporting requirements (Part W); requires the New York Racing Association, Inc. to enter into a repayment agreement with the state of New York for the repayment of funds provided by the state for the renovation of Belmont Park; establishes a community advisory committee to assess bids made in response to the request for proposals (Part X); relates to regulations for the disposition of winnings for a keno style lottery game (Part Y); relates to the utilization of funds in the capital region off-track betting corporations' capital acquisition funds (Part AA); relates to licenses for simulcast facilities, sums relating to track simulcast, simulcast of out-of-state thoroughbred races, simulcasting of races run by out-of-state harness tracks and distributions of wagers; relates to simulcasting; extends certain provisions relating to simulcasting and the imposition of certain taxes; extends certain provisions of law (Part BB); relates to treatment of gains from qualified opportunity zones in calculating taxable income; removes exclusion of gains on property in qualified opportunity zones in calculation of income (Part DD); prohibits regional off-track betting corporations from providing items of value exceeding fifteen dollars to any board member, officer, or employee of the corporation, any contractor, subcontractor, consultant, or other agent of the corporation, or any spouse, child, sibling or parent of such persons (Part EE); prohibits off-track betting corporation vehicles from being used as take-home vehicles by board members, officers, employees, contractors, subcontractors, consultants, or agents of such corporation or by certain family members of such individuals; provides an exception therefor (Part FF); prohibits regional off-track betting corporations from providing items of value exceeding fifteen dollars to any board member, officer, or employee of the corporation, any contractor, subcontractor, consultant, or other agent of the corporation, or any spouse, child, sibling or parent of such persons (Part GG); increases the amount of residential solar tax credits (Part HH); repeals the excise tax on medical cannabis and the medical cannabis trust fund (Part II); relates to eligibility for the empire state child credit (Part JJ); relates to the liability of a person who presents false claims for money or property to the state or a local government (Part KK); adjusts certain income tax rates (Part LL); and relates to eligibility for the earned income tax credit and the enhanced earned income tax credit (Part MM). |
