Assembly Actions -
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Bill S9592
2021-2022 Legislative Session
Sponsored By
There are no sponsors of this bill.
Archive: Last Bill Status -
- Introduced
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- In Committee Assembly
- In Committee Senate
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- On Floor Calendar Assembly
- On Floor Calendar Senate
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- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2021-S9592 (ACTIVE) - Details
2021-S9592 (ACTIVE) - Sponsor Memo
BILL NUMBER: S9592 SPONSOR: SERINO TITLE OF BILL: An act to amend the tax law, in relation to an enhanced home energy assistance program tax credit PURPOSE: To expand eligibility for home energy assistance and increase the assistance provided to current beneficiaries of the Home Energy Assist- ance Program (HEAP). SUMMARY OF PROVISIONS: Section 1: Amends the Tax Law to establish the Enhanced Home Energy Assistance Program Tax Credit. Provides that taxpayers making less than 52% more than the applicable threshold for the Home Energy Assistance Program (HEAP) shall receive a tax credit equal to the energy assistance benefit to which they would otherwise be entitled. Furthermore, provides that taxpayers already receiving HEAP benefits will also
2021-S9592 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9592 I N S E N A T E November 4, 2022 ___________ Introduced by Sen. SERINO -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the tax law, in relation to an enhanced home energy assistance program 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 (ooo) to read as follows: (OOO) ENHANCED HOME ENERGY ASSISTANCE PROGRAM TAX CREDIT. (1) AN INDI- VIDUAL TAXPAYER WHO MEETS THE ELIGIBILITY STANDARDS IN PARAGRAPH TWO OF THIS SUBSECTION SHALL BE ALLOWED THE CORRESPONDING CREDIT AGAINST THE TAXES IMPOSED BY THIS ARTICLE, PURSUANT TO PARAGRAPH THREE OF THIS SUBSECTION. (2) (A) TO BE ELIGIBLE FOR THE CREDIT PURSUANT TO SUBPARAGRAPH (A) OF PARAGRAPH THREE OF THIS SUBSECTION, THE TAXPAYER (OR TAXPAYERS FILING JOINT RETURNS) ON THE PERSONAL INCOME TAX RETURN FILED FOR THE TAXABLE YEAR THE PRIOR YEAR, MUST HAVE (I) BEEN A RESIDENT, AND (II) HAD INCOME THAT IS LESS THAN FIFTY-TWO PERCENT HIGHER THAN THE APPLICABLE INCOME ELIGIBILITY STANDARDS FOR THE LOW-INCOME HOME ENERGY ASSISTANCE PROGRAM PURSUANT TO SECTION NINETY-SEVEN OF THE SOCIAL SERVICES LAW AND OTHER- WISE MEET THE ELIGIBILITY REQUIREMENTS FOR SUCH PROGRAM. (B) TO BE ELIGIBLE FOR THE CREDIT PURSUANT TO SUBPARAGRAPH (B) OF PARAGRAPH THREE OF THIS SUBSECTION, THE TAXPAYER (OR TAXPAYERS FILING JOINT RETURNS) ON THE PERSONAL INCOME TAX RETURN FILED FOR THE TAXABLE YEAR THE PRIOR YEAR, MUST HAVE (I) BEEN A RESIDENT, AND (II) MUST BE CERTIFIED AS ELIGIBLE FOR AND ENTITLED TO RECEIVE HOME ENERGY ASSISTANCE PURSUANT TO SECTION NINETY-SEVEN OF THE SOCIAL SERVICES LAW. (3) (A) FOR THE PURPOSES OF THIS SUBSECTION, THE CREDIT FOR TAXPAYERS PURSUANT TO SUBPARAGRAPH (A) OF PARAGRAPH TWO OF THIS SUBSECTION SHALL BE EQUAL TO THE OTHERWISE APPLICABLE HOME ENERGY ASSISTANCE PURSUANT TO SECTION NINETY-SEVEN OF THE SOCIAL SERVICES LAW FOR WHICH THEIR INCOME IS LESS THAN FIFTY-TWO PERCENT HIGHER. IF THE AMOUNT OF THE 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 OVERPAY- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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