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posticon Legislation Protects Non-Profits From Federal Tax Hike

Business | Friday, December 14, 2018 | By New York State Governor's Office Print
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Governor Andrew M. Cuomo signed legislation (S.08831/A.11051) Monday to protect non-profits from a tax hike resulting from the federal tax bill. This legislation decouples the New York State tax code from a change made to the federal Unrelated Business Income Tax by the Federal Tax Cuts and Jobs Act, which considered the amount paid or incurred by any non-profit employer for commuter benefits, such as transit or parking, as taxable income.

"The federal tax bill egregiously raises costs on non-profits operating in New York State," Governor Cuomo said. "By decoupling from this area of the federal tax code, we are taking action to protect these critical organizations from the federal assault and sending a strong message that New York stands with the non-profit community."

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posticon New Initiatives Will Strengthen NY's Concord Grape Industry

Business | Friday, December 14, 2018 | By New York State Governor's Office Print
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Governor Andrew M. Cuomo announced several new initiatives to strengthen New York's Concord grape industry, including an investment of more than $1.3 million in the Vineyard Improvement Program to help growers renovate their vineyards, diversify operations and plant new grape varieties, increase production and enhance profitability. In addition, the state will provide funding to support research at Cornell University to develop new Concord grape products and identify market opportunities. These initiatives are a direct result of the Governor's first-ever Concord grape summit held in April of this year.

"As home to the largest Concord grape industry in the eastern United States, the State of New York is making it a priority to support local growers and their businesses which in turn boosts regional economic growth," Governor Cuomo said. "These new initiatives will strengthen the grape industry and create new jobs by utilizing one of New York's greatest agricultural assets."

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posticon Costs Will Climb For Municipal Landfills

Business | Friday, December 14, 2018 | By New York State Comptroller's Office Print
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Local governments that own landfills face nearly $300 million in estimated long-term costs for their active and closed landfills, according to a report released today by State Comptroller Thomas P. DiNapoli. Much of these costs are associated with the decades-long monitoring and maintenance required to prevent waste and contaminants from seeping into groundwater.

"Owning a landfill can generate significant revenues, but also carries a significant long-term price tag," said DiNapoli. "Before landfills begin to reach capacity, it is critical that local governments plan for future costs that will be paid long after the revenue stream has ended."

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