S T A T E   O F   N E W   Y O R K
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                                  1712

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                             January 9, 2009
                               ___________

Introduced  by  M.  of  A. ENGLEBRIGHT, SCHROEDER, KOON, TITONE, CAHILL,
  GREENE, J. RIVERA, BENEDETTO, MARKEY, EDDINGTON, ESPAILLAT  --  Multi-
  Sponsored by -- M. of A.  AUBRY, BOYLAND, COOK, HEASTIE, HYER-SPENCER,
  MAISEL, PEOPLES, N. RIVERA, ROBINSON, SCHIMEL, WEISENBERG -- read once
  and referred to the Committee on Ways and Means

AN  ACT  to  amend  the  tax  law, in relation to providing for a credit
  against personal income tax for sheltering a homeless person sixty-two
  years of age or older

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Section  606  of  the  tax law is amended by adding a new
subsection (o-1) to read as follows:
  (O-1) SHELTERING HOMELESS PERSON CREDIT. (1) FOR TAXABLE YEARS  BEGIN-
NING  ON OR AFTER TWO THOUSAND NINE, A TAXPAYER SHALL BE ALLOWED A CRED-
IT, TO BE CREDITED AGAINST THE TAX IMPOSED BY THIS ARTICLE, AFTER ALLOW-
ANCE OF ANY OTHER CREDIT PROVIDED UNDER THIS  SECTION  AND  ANY  CREDITS
PERMITTED  UNDER SECTIONS SIX HUNDRED TWENTY, SIX HUNDRED TWENTY-ONE AND
SIX HUNDRED THIRTY-FIVE OF THIS ARTICLE. THE AMOUNT OF THE CREDIT  SHALL
BE  ONE THOUSAND DOLLARS FOR EACH HOMELESS PERSON SIXTY-TWO YEARS OF AGE
OR OLDER WHOM THE TAXPAYER SHELTERS IN HIS OR HER HOME,  PROVIDING  ROOM
AND  BOARD,  DURING THE TAXABLE YEAR, PROVIDED THAT SUCH HOMELESS PERSON
SHALL HAVE BEEN SHELTERED BY THE TAXPAYER FOR NOT LESS THAN ONE YEAR.
  (2) IN NO EVENT SHALL THE AMOUNT OF THE CREDIT PROVIDED  FOR  IN  THIS
SUBSECTION  BE  ALLOWED  IN  EXCESS OF THE TAXPAYER'S TAX FOR SUCH YEAR.
HOWEVER,  IF  THE  AMOUNT  OF  CREDIT  OTHERWISE  ALLOWABLE  UNDER  THIS
SUBSECTION  FOR  ANY  TAXABLE  YEAR  RESULTS  IN SUCH EXCESS AMOUNT, ANY
AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER
TO THE FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM  THE  TAXPAYER'S
TAX FOR SUCH YEAR OR YEARS.
  (3)  FOR PURPOSES OF THIS SUBSECTION, "HOMELESS PERSON" SHALL HAVE THE
MEANING PRESCRIBED IN SUBDIVISION TWO OF SECTION FORTY-TWO OF THE SOCIAL
SERVICES LAW, PROVIDED THAT SUCH PERSON IS SIXTY-TWO  YEARS  OF  AGE  OR
OLDER.
  S 2. This act shall take effect immediately.

              

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01947-01-9