Consideration of SB 746, SB 1150, SB 1263 and SB 1267

AGENDA 

October 26, 2011
10:00 a.m.
8E-A East Wing

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Senate Bill 746 (Pileggi) | Bill Summary – Provides for the realty transfer tax as it relates to reorganizations of family farm businesses and provides for transfers of property devoted to the business of agriculture to a family farm business by a member of the same family or by a related family farm business. Provides for an inheritance tax exemption for the conveyance of real estate devoted to the business of agriculture to a member of the same family.
A05668 – technical rewrite of the bill.

Senate Bill 1150 (Smucker) | Bill Summary – Creates the historic preservation tax credit. Authorizes up to $10 million per fiscal year for the credit.
A05686 – technical rewrite of the bill.

Senate Bill 1263 (Browne) | Bill Summary – Provides for general budget implementation, under the Department of Labor and Industry, of limitations upon the appropriations for “Reed Act-Unemployment Insurance” and “Reed Act-Employment Services and Unemployment Insurance.”

Senate Bill 1267 (Blake) | Bill Summary – Permits local taxing authorities to abate real estate taxes imposed for 2011 if the real property was damaged or destroyed by Hurricane Irene or Tropical Storm Lee.  Permits local taxing authorities to exempt from real property tax the assessed valuation of reconstruction or repairs made to properties damaged or destroyed by Hurricane Irene or Tropical Storm Lee.
A05590 – technical amendment