Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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Jan 06, 2010 |
referred to investigations and government operations |
Feb 20, 2009 |
referred to investigations and government operations |
Senate Bill S2447
2009-2010 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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-S2447 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A5771
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยง606, Tax L
2009-S2447 (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-S2447 (ACTIVE) - Sponsor Memo
BILL NUMBER: S2447 TITLE OF BILL : 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 PURPOSE OR GENERAL IDEA OF BILL : This act provides monetary relief to taxpayers who need to improve or replace an existing residential septic system. SUMMARY OF SPECIFIC PROVISIONS : Section 1 amends the Tax Law by creating a Residential Septic System Credit for Personal Income Tax purposes. The credit shall be used for the improvement or replacement of a residential septic system used to process sewage. The credit equals $500 for an improvement and $1,000 for replacement. Section 2 authorizes this act to take effect for tax years 2008 and thereafter. JUSTIFICATION : Recent incidences of the ground sinking and people falling into septic systems and cesspools on Long Island and other areas in the State have created an urgent need to improve or replace existing septic systems.
2009-S2447 (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
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