Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 |
referred to budget and revenue |
Mar 09, 2021 |
reported and committed to finance |
Feb 08, 2021 |
referred to budget and revenue |
Senate Bill S4663
2021-2022 Legislative Session
Sponsored By
(D, WF) 21st Senate District
Archive: Last Bill Status - In Senate Committee Budget And Revenue 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
Votes
2021-S4663 (ACTIVE) - Details
2021-S4663 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4663 SPONSOR: PARKER TITLE OF BILL: An act to amend the tax law, in relation to creating a disabled person retrofit tax credit PURPOSE: To provide an incentive for owners of residential buildings to retrofit homes for access to the disabled. SUMMARY OF PROVISIONS: Section One of the bill amends Section 606 of the tax law to allow a taxpayer a tax credit to be equal to thirty percent, with a maximum of $5,000 dollars, of the cost of expenditures for retrofitting a home for disabled access- Qualified improvements include: *A no-step entrance or entrance allowing access to the residence;
2021-S4663 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4663 2021-2022 Regular Sessions I N S E N A T E February 8, 2021 ___________ Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to creating a disabled person retrofit tax credit 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 (kkk) to read as follows: (KKK) DISABLED PERSON RETROFIT TAX CREDIT. (1) FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWENTY-TWO, A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS HEREINAFTER PROVIDED, AGAINST THE TAX IMPOSED BY THIS ARTICLE. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO THIRTY PERCENT OF THE COST OF THE EXPENDITURES MADE BY THE TAXPAYER WITH RESPECT TO THE INSTALLATION OF QUALIFIED IMPROVEMENTS AT A DWELLING OCCUPIED BY THE TAXPAYER AS HIS OR HER PRIMARY RESIDENCE AND MAY BE ALLOWED IN THE TAXABLE YEAR IN WHICH THE EXPENDITURE IS INCURRED; PROVIDED THAT THE LIFETIME CREDIT ALLOWABLE WITH REGARD TO EXPENDITURES FOR THE INSTALLATION OF QUALIFIED IMPROVEMENTS AT A PARTICULAR DWELLING BY ANY TAXPAYER SHALL NOT EXCEED FIVE THOUSAND DOLLARS IN THE AGGREGATE FOR IMPROVEMENTS MADE TO THAT DWELLING. SUBJECT TO THE PROVISIONS OF THIS SUBSECTION, A TAXPAYER SHALL BE ALLOWED A CREDIT, NOT TO EXCEED FIVE THOUSAND DOLLARS IN THE AGGREGATE, FOR EACH DWELLING THAT THE TAXPAYER OCCUPIES AS HIS OR HER PRIMARY RESIDENCE AND AT WHICH THE TAXPAYER INSTALLS QUALIFIED IMPROVEMENTS. (2) AS USED IN THIS SUBSECTION "QUALIFIED IMPROVEMENTS" MEANS THE INSTALLATION OF: (A) A NO-STEP ENTRANCE OR ENTRANCES ALLOWING ACCESS INTO THE RESI- DENCE; (B) INTERIOR PASSAGE DOORS PROVIDING AT LEAST A THIRTY-TWO INCH WIDE OPENING; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09089-02-1
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