S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2805
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 27, 2023
                                ___________
 
 Introduced by M. of A. RAJKUMAR -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN ACT to amend the tax law, the insurance law and the executive law, in
   relation  to enacting the residential structure fire prevention act of
   2023
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  This act shall be known and may be cited as the "residen-
 tial structure fire prevention act of 2023".
   § 2. Section 606 of the tax law is amended by adding a new  subsection
 (ooo) to read as follows:
   (OOO) CREDIT FOR REMOVING CERTAIN FIRE HAZARDS. (1) ANY RESIDENT OWNER
 OF    REAL  PROPERTY  AS  DEFINED IN SECTION ONE HUNDRED TWO OF THE REAL
 PROPERTY TAX LAW SHALL BE ALLOWED A CREDIT  AGAINST  THE  TAX  OTHERWISE
 IMPOSED  UNDER THIS ARTICLE IN AN AMOUNT EQUAL TO TWENTY-FIVE PERCENT OF
 THE COST OF REMOVING FIRE HAZARDS COMMONLY KNOWN AS COCK LOFTS, PROVIDED
 THAT SUCH CREDIT SHALL NOT EXCEED FIVE THOUSAND DOLLARS. FOR PURPOSES OF
 THIS SECTION THE TERM "COCK LOFT" SHALL MEAN A COMPLETELY ENCLOSED SPACE
 BETWEEN RAFTERS AND A SUSPENDED CEILING.
   (2) 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 OVERPAYMENT OF TAX TO BE CREDITED 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.
   §  3.  Section  2346  of  the insurance law is amended by adding a new
 subsection 6 to read as follows:
   6. THE SUPERINTENDENT SHALL PROVIDE  FOR  AN  ACTUARIALLY  APPROPRIATE
 REDUCTION  IN THE RATES OF FIRE INSURANCE PREMIUMS OR THE FIRE INSURANCE
 COMPONENT OF HOMEOWNERS INSURANCE  PREMIUMS  APPLICABLE  TO  RESIDENTIAL
 REAL PROPERTY EQUIPPED WITH SMOKE DETECTING ALARM DEVICES IN COCK LOFTS.
 THE  SUPERINTENDENT  SHALL  BY  REGULATION ESTABLISH STANDARDS FOR SMOKE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04220-01-3
              

 A. 2805                             2
 
 DETECTING ALARM DEVICES IN COCK LOFTS, INCLUDING  THE  SAFE  AND  SECURE
 INSTALLATION  THEREOF.  FOR THE PURPOSES OF THIS SUBSECTION, "COCK LOFT"
 SHALL MEAN A COMPLETELY ENCLOSED SPACE BETWEEN RAFTERS AND  A  SUSPENDED
 CEILING.
   §  4.  The  executive  law is amended by adding a new section 170-g to
 read as follows:
   § 170-G. REPAIR OF CERTAIN FIRE HAZARDS. ANY STATE AGENCY OR  AUTHORI-
 TY,  INCLUDING BUT NOT LIMITED TO THE NEW YORK STATE ENERGY RESEARCH AND
 DEVELOPMENT AUTHORITY, DIVISION OF HOUSING  AND  COMMUNITY  RENEWAL  AND
 STATE OF NEW YORK MORTGAGE AGENCY, THAT PROVIDES A HOUSING PROGRAM SHALL
 INCLUDE  THE REPAIR OF COCK LOFTS FOR THE PURPOSE OF FIRE PREVENTION AND
 SAFETY AS A QUALIFYING EXPENDITURE  UNDER  ANY  SUCH  PROGRAM.  FOR  THE
 PURPOSES  OF  THIS SECTION, "COCK LOFT" SHALL MEAN A COMPLETELY ENCLOSED
 SPACE BETWEEN RAFTERS AND A SUSPENDED CEILING.
   § 5. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2024.