NY State Senate Bill 2017-S2342

Senate Bill S2342

2017-2018 Legislative Session

Establishes a tax credit for personal property replacement as a result of bedbug infestation

download bill text pdf

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

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2018	referred to investigations and government operations
Jan 13, 2017	referred to investigations and government operations

2017-S2342 (ACTIVE) - Details

See Assembly Version of this Bill:: A483
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:: 2009-2010: S7065, A10081
2011-2012: S1286, A1482
2013-2014: S511, A692
2015-2016: S3041, A231
2019-2020: A1000
2021-2022: A2201
2023-2024: A720
2025-2026: A1850

2017-S2342 (ACTIVE) - Summary

Establishes a tax credit for personal property replacement as a result of bedbug infestation; credit of 15% not to exceed $750; certification determined by commissioner.

2017-S2342 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S2342

 TITLE OF BILL :  An act to amend the tax law, in relation to
establishing a tax credit for personal property replacement as a
result of bedbug infestation

 PURPOSE OR GENERAL IDEA OF BILL :

The purpose of this legislation is to offer a 15% tax credit towards
the replacement of personal property destroyed by bedbugs up to $750.

 SUMMARY OF SPECIFIC PROVISIONS :

The bill will amend section 606 of the tax law to add subsection uu:
1.  Allowing an individual to receive a credit against the personal
tax imposed by this article equal to fifteen percent of qualified
personal property replacement expenditures and not to exceed $750.

2a. The term "qualified personal property replacement expenditures"
means expenditures made for the replacement of personal property due
to bedbug damage.

b. Such qualified expenditures shall include but not be limited to
furniture, rugs or other home goods that may be damaged by bedbug
infestation.

c. Such qualified personal property replacement expenditures shall not
include interest or other finance charges.

3. certification for credit allowance. The commissioner shall
determine the procedure for certification for the credit authorized
pursuant to this subsection.

 JUSTIFICATION :

The recent bedbug epidemic has brought legitimate suffering to New
Yorkers statewide. Victims have contracted bedbugs from neighbors,
hotel stays and a variety of other means. In addition to social
stigma, the afflicted have experienced economic hardship as a result
of the loss of furniture, bedding, clothing and other belongings that
must be discarded during the extermination process.  Bedbug
infestations are not covered by most varieties of renters or
homeowners insurance and this bill would offer a modest tax credit to
assist affected New Yorkers.

 PRIOR LEGISLATIVE HISTORY :

2010: S.7065 (Duane), Died in Investigations and Gov't Ops; A.1008
(Rosenthal), Died in Ways and Means.
2015-2016: Referred to investigations and government operations.

 FISCAL IMPLICATIONS :

Undetermined.

 EFFECTIVE DATE :
This act shall take effect immediately and shall apply to taxable
years beginning on and after the first of January next succeeding the
date on which it shall have become a law.

2017-S2342 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2342
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2017
                                ___________
 
 Introduced by Sen. ALCANTARA -- 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 establishing a tax credit
   for personal property replacement as a result of bedbug infestation

   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) PERSONAL PROPERTY REPLACEMENT CREDIT. (1) GENERAL. AN INDIVIDUAL
 TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
 CLE EQUAL TO FIFTEEN PERCENT OF QUALIFIED PERSONAL PROPERTY  REPLACEMENT
 EXPENDITURES, AND NOT TO EXCEED SEVEN HUNDRED FIFTY DOLLARS.
   (2) QUALIFIED PERSONAL PROPERTY REPLACEMENT EXPENDITURES. (A) THE TERM
 "QUALIFIED  PERSONAL  PROPERTY  REPLACEMENT EXPENDITURES" MEANS EXPENDI-
 TURES MADE FOR THE  REPLACEMENT  OF  PERSONAL  PROPERTY  DUE  TO  BEDBUG
 DAMAGE.
   (B)  SUCH  QUALIFIED  EXPENDITURES SHALL INCLUDE BUT NOT BE LIMITED TO
 FURNITURE, RUGS OR OTHER HOME GOODS THAT MAY BE DAMAGED BY BEDBUG INFES-
 TATION.
   (C) SUCH QUALIFIED PERSONAL PROPERTY  REPLACEMENT  EXPENDITURES  SHALL
 NOT INCLUDE INTEREST OR OTHER FINANCE CHARGES.
   (3)  CERTIFICATION FOR CREDIT ALLOWANCE. THE COMMISSIONER SHALL DETER-
 MINE THE PROCEDURE FOR CERTIFICATION FOR THE CREDIT AUTHORIZED  PURSUANT
 TO THIS SUBSECTION.
   § 2. This act shall take effect immediately and shall apply to taxable
 years  beginning  on  and after the first of January next succeeding the
 date on which it shall have become a law.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04939-01-7

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