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S02509 Summary:

Amd Various Laws, generally
Enacts into law major components of legislation which are necessary to implement the state fiscal plan for the 2021-2022 state fiscal year; imposes a tax surcharge on wealthy taxpayers (Part A); relates to delaying tax reductions (Part B); imposes a pass-through entity tax (Part C); relates to child care services expenditures under the excelsior jobs program and the employer provided child care credit (Part D); reforms and simplifies various business tax provisions (Part E); relates to the empire state film production credit and the empire state film post production credit (Part F); relates to wage filer reporting and reconciliation (Part G); enacts the "Cannabis Regulation and Taxation Act" providing for the creation of a new office of cannabis management, as an independent entity within the division of alcoholic beverage control, providing for the licensure of persons authorized to cultivate, process, distribute and sell cannabis and the use of cannabis by persons aged twenty-one or older (Part H); requires vacation rental marketplace providers collect sales tax (Part I); relates to certain taxes on admissions to race tracks and simulcast facilities; and imposes sales tax on admissions to race tracks and simulcast facilities (Part J); increases the interest free period for certain sales tax refunds (Part K); provides for the authority of counties to impose sales and use taxes (Part L); exempts from sales and use tax certain tangible personal property or services (Part M); increases the total dollar amount for vendors' gross receipts necessary for registration filing (Part N); imposes liability for real estate transfer taxes on responsible persons, prohibiting grantors from passing real estate transfer tax to grantees; exempts certain organizations from the LLC disclosure requirement (Part O); relates to restrictions on certain retail dealers whose registrations have been revoked or who have been forbidden from selling cigarettes or tobacco products (Part P); relates to the timing and method for filing certain returns (Part Q); relates to determining liability for the collection of taxes on medallion taxicab trips and congestion surcharges (Part R); increases tax return preparer penalties for failure to register; requires the display of certain documents by tax return preparers (Part S); permits the commissioner of taxation and finance to seek judicial review of decisions of the tax appeals tribunal (Part T); relates to electronic submission of consolidated real property transfer forms; authorizes the commissioner to implement a new system for the collection of data relating to transfers of real property (Part U); enhances the administration of the STAR program; provides that beginning with assessment rolls used to levy school district taxes for the 2021--2022 school year, no application for a new enhanced exemption under this section may be approved (Subpart A); extends the cutoff date for a STAR credit switch (Subpart B); relates to tax returns of deceased individuals (Subpart C); relates to the powers of the state board of real property tax services and the commissioner of taxation and finance; requires the commissioner of taxation and finance verify the income eligibility of recipients of the basic STAR exemption (Subpart D); relates to exemptions for manufactured home park owners or operators and mobile home owners (Subpart E)(Part V); relates to making technical corrections to facilitate the administration of real property taxes (Part W); promotes the development of renewable energy projects, including solar or wind energy systems (Part X); authorizes mobile sports betting (Part Y); authorizes a request from the gaming commission for information related to interest in gaming facility licenses (Part Z); provides for keno style lottery games (Part AA); relates to the frequency at which certain lottery draw games may be offered (Part BB); reorganizes and makes technical corrections to certain provisions of law relating to the gaming inspector general (Part CC); extends certain provisions of law related to simulcasting (Part DD); extends the alternative fuels tax exemptions for five years (Part EE); extends the farm workforce retention credit (Part FF); extends the credit against income tax for persons or entities investing in low-income housing (Part GG); extends provisions of law relating to a musical and theatrical production tax credit; increases the aggregate cap on such credit (Part HH); extends hire a veteran credit for an additional year (Part II); extends the tax credits under the economic transformation and facility redevelopment program (Part JJ); provides for the implementation of the secure choice program (Part KK); relates to temporarily suspending certain racing support payments (Part LL).
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