Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to ways and means |
Feb 12, 2015 |
referred to ways and means |
Assembly Bill A5084
2015-2016 Legislative Session
Sponsored By
LIFTON
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
Matthew Titone
2015-A5084 (ACTIVE) - Details
2015-A5084 (ACTIVE) - Summary
Creates a tax credit for energy efficiency home improvements and products affixed to homes; directs NYSERDA to develop a list of qualified products and improvements and provides that such improvements shall not affect the assessed valuation of real property for tax purposes.
2015-A5084 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5084 2015-2016 Regular Sessions I N A S S E M B L Y February 12, 2015 ___________ Introduced by M. of A. LIFTON, TITONE -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law and the real property tax law, in relation to providing a tax credit for the purchase of energy efficient home improvements 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 (ccc) to read as follows: (CCC) CREDIT FOR THE PURCHASE OF ENERGY EFFICIENT HOME IMPROVEMENTS. (1) ALLOWANCE AND AMOUNT OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CRED- IT, TO BE COMPUTED AS PROVIDED IN THIS SUBSECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO TWENTY-FIVE PERCENT OF THE COST OF ENERGY EFFICIENT HOME IMPROVEMENTS, AS PROVIDED IN PARAGRAPH TWO OF THIS SUBSECTION, UP TO A TWO THOUSAND FIVE HUNDRED DOLLAR LIMIT FOR ALL HOME IMPROVEMENTS MADE BY SUCH TAXPAY- ER TO THE TAXPAYER'S PRINCIPAL RESIDENCE, IF SUCH RESIDENCE IS LOCATED WITHIN THIS STATE. (2) THE NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY SHALL ADOPT RULES AND REGULATIONS SETTING FORTH HOME IMPROVEMENTS WHICH QUALI- FY FOR THE CREDIT UNDER THIS SUBSECTION. SUCH AUTHORITY SHALL DEVELOP A LIST OF SUCH IMPROVEMENTS AND PRODUCTS AND MAKE SUCH LIST AVAILABLE ON ITS WEBSITE. (3) APPLICATION OF CREDIT. IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT- ED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON. S 2. The real property tax law is amended by adding a new section 582-b to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03969-01-5
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