Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 01, 2010 |
held for consideration in ways and means |
Jan 06, 2010 |
referred to ways and means |
Feb 20, 2009 |
referred to ways and means |
Assembly Bill A5771
2009-2010 Legislative Session
Sponsored By
CONTE
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2009-A5771 (ACTIVE) - Details
- See Senate Version of this Bill:
- S2447
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยง606, Tax L
2009-A5771 (ACTIVE) - Summary
Establishes a personal income tax credit for the improvement or replacement of an existing residential septic system for single to 4 family residences; such credit shall not exceed $500 for the improvement of such a system and $1000 for the replacement of such a system.
2009-A5771 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 2447 A. 5771 2009-2010 Regular Sessions S E N A T E - A S S E M B L Y February 20, 2009 ___________ IN SENATE -- Introduced by Sen. MARCELLINO -- read twice and ordered printed, and when printed to be committed to the Committee on Investi- gations and Government Operations IN ASSEMBLY -- Introduced by M. of A. CONTE, KOLB, RAIA, SALADINO, TOBACCO -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to establishing a personal income tax credit for the improvement or replacement of a residential septic system 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 (p-1) to read as follows: (P-1) RESIDENTIAL SEPTIC SYSTEM CREDIT. (1) ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS SUBSECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE TO THE IMPROVEMENT OR REPLACEMENT OF A RESIDENTIAL SEPTIC SYSTEM USED TO PROCESS SEWAGE FOR SINGLE TO FOUR-FAMILY RESIDENCES LOCATED IN THIS STATE. (2) AMOUNT OF CREDIT. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO: (A) THE COSTS OF IMPROVING, DURING THE TAXABLE YEAR, AN EXISTING RESI- DENTIAL SEPTIC SYSTEM, NOT TO EXCEED FIVE HUNDRED DOLLARS; OR (B) THE COSTS OF REPLACING, DURING THE TAXABLE YEAR, AN EXISTING RESI- DENTIAL SEPTIC SYSTEM, NOT TO EXCEED ONE THOUSAND DOLLARS. (3) LIMITATION. A CREDIT ALLOWED UNDER THIS SUBSECTION SHALL BE ALLOWED ONLY ONCE WITH RESPECT TO A PARTICULAR RESIDENCE. (4) CARRYOVER. IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION EXCEEDS THE TAXPAYER'S TAX FOR ANY TAXABLE YEAR, THE EXCESS MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS. S 2. This act shall take effect January 1, 2010 and shall apply to taxable years commencing on or after such date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04296-01-9
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.