Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2014 |
referred to ways and means |
Feb 05, 2013 |
referred to ways and means |
Assembly Bill A4414
2013-2014 Legislative Session
Sponsored By
HEVESI
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
co-Sponsors
Francisco Moya
Victor M. Pichardo
Michael Simanowitz
Albert A. Stirpe
multi-Sponsors
Carmen E. Arroyo
Clifford Crouch
Carl Heastie
Charles Lavine
2013-A4414 (ACTIVE) - Details
2013-A4414 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4414 2013-2014 Regular Sessions I N A S S E M B L Y February 5, 2013 ___________ Introduced by M. of A. HEVESI -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to providing a tax deduction for the installation of mechanical insulation property THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (a) of subdivision 9 of section 208 of the tax law is amended by adding a new subparagraph 18 to read as follows: (18) THE APPLICABLE PERCENTAGE OF THE COST OF MECHANICAL INSULATION PROPERTY INSTALLED IN REAL PROPERTY LOCATED IN THIS STATE DURING THE TAXABLE YEAR. (A) DEFINITIONS. FOR PURPOSES OF THIS SUBPARAGRAPH, THE FOLLOWING DEFINITIONS SHALL APPLY: (I) "APPLICABLE PERCENTAGE" SHALL MEAN THE LESSER OF: (I) THIRTY PERCENT OF THE COST OF THE MECHANICAL INSULATION PROPERTY PLACED IN SERVICE; OR (II) THE EXCESS, IF ANY, OF (A) THE ENER- GY SAVINGS, EXPRESSED AS A PERCENTAGE, OBTAINED BY PLACING SUCH MECHAN- ICAL INSULATION PROPERTY IN SERVICE IN CONNECTION WITH A MECHANICAL SYSTEM, OVER (B) THE ENERGY SAVINGS, EXPRESSED AS A PERCENTAGE, SUCH PROPERTY IS REQUIRED TO MEET BY STANDARD 90.1-2007, DEVELOPED AND PUBLISHED BY THE AMERICAN SOCIETY OF HEATING, REFRIGERATING AND AIR-CON- DITIONING ENGINEERS. (II) "COST" SHALL MEAN (I) THE AMOUNTS PAID DURING THE TAXABLE YEAR FOR THE PURCHASE OF MECHANICAL INSULATION PROPERTY THAT IS INSTALLED DURING THE TAXABLE YEAR AND (II) LABOR COSTS PAID DURING THE TAXABLE YEAR THAT ARE PROPERLY ALLOCABLE TO THE PREPARATION, ASSEMBLY AND INSTALLATION OF MECHANICAL INSULATION PROPERTY; PROVIDED, HOWEVER, IN THE CASE OF REMOVAL AND DISPOSAL OF THE OLD MECHANICAL INSULATION PROP- ERTY, COST SHALL MEAN THIRTY PERCENT OF THE COST FOR PURCHASE OF THE NEW MECHANICAL INSULATION PROPERTY, AND PROVIDED, FURTHER, THAT IF THE TAXPAYER CLAIMS THE EXCLUSION PROVIDED BY THIS SUBPARAGRAPH THE TAXPAYER SHALL EXCLUDE ALL AMOUNTS INCLUDED IN THE EXCLUSION COMPUTATION PURSUANT EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07108-01-3
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