Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2014 |
referred to investigations and government operations |
Jan 18, 2013 |
referred to investigations and government operations |
Senate Bill S2499
2013-2014 Legislative Session
Sponsored By
(R) 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
co-Sponsors
(D) 15th Senate District
(D) Senate District
(R) Senate District
(D) Senate District
2013-S2499 (ACTIVE) - Details
2013-S2499 (ACTIVE) - Sponsor Memo
BILL NUMBER:S2499 TITLE OF BILL: An act to amend the tax law, in relation to providing a tax deduction for the installation of mechanical insulation property PURPOSE: This bill will create tax incentives that will facilitate mechanical insulation maintenance to help foster energy efficiency savings and job growth throughout the state. SUMMARY OF PROVISIONS: Section 1-amends paragraph a of subdivision 9 of section 208 of the tax law to define terms necessary to determine the proper calculation of a tax deduction for mechanical insulation. Section 2-amends subsection c of section 612 of the tax law to define terms necessary to determine the proper calculation of a tax deduction for mechanical insulation. Section 3-sets forth the effective date JUSTIFICATION: This bill would create incentives that encourage commercial and industrial entities to go beyond current minimum requirements, as defined by the American Society of Heating, Refrigeration and Air-Conditioning Engineers, in new construction or retrofit projects and execute timely maintenance of mechanical
2013-S2499 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2499 2013-2014 Regular Sessions I N S E N A T E January 18, 2013 ___________ Introduced by Sen. MAZIARZ -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07108-01-3
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.