NY State Senate Bill 2023-S4458

Senate Bill S4458

2023-2024 Legislative Session

Relates to creating a tax credit for taxpayers who purchase and install a water filtration or purification system in their residence or business

download bill text pdf

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

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2024	referred to budget and revenue
Feb 09, 2023	referred to budget and revenue

2023-S4458 (ACTIVE) - Details

See Assembly Version of this Bill:: A3739
Current Committee:: Senate Budget And Revenue
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:: 2017-2018: A10783
2019-2020: S4767, A3854
2021-2022: S2128, A3562
2025-2026: S1826, A2480

2023-S4458 (ACTIVE) - Summary

Relates to creating a tax credit for taxpayers who purchase and install a water filtration or purification system in their residence or business.

2023-S4458 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S4458

SPONSOR: ASHBY
 
TITLE OF BILL:

An act to amend the tax law, in relation to creating a tax credit for
households or businesses that install a water purification or filtration
system

 
PURPOSE OR GENERAL IDEA OF BILL:

To alleviate the financial burden on those who choose to have profes-
sionally installed water purification or filtration systems in order to
access potable water in their homes or businesses.

 
SUMMARY OF PROVISIONS:

The tax law is amended by adding a new subsection to create a water
filtration or purification tax credit. A taxpayer who purchases and
installs a water purification or filtration system in their residence
and/or business, shall be allowed a tax credit in an amount equal to
$500.

 
JUSTIFICATION:

Across the state, we have seen instances of contamination in our drink-
ing water. In many cases, the best method to reduce or eliminate the
contamination is through the professional installation of a water
purification or filtration system. The purchase and installation of the
water purification or filtration systems can cause a significant finan-
cial burden on the individuals, families, and businesses. Their water
was contaminated through no fault of their own, and they should not be
expected to bear the burden of this corrective measure.

 
PRIOR LEGISLATIVE HISTORY:

2022: A.3562/S.2128 - referred to budget and revenue.

2021: A.3562/S.2128 - referred to budget and revenue.

2020: A.3854/S.4767 - referred to budget and revenue.

2019: A.3854/S.4767 - referred to budget and revenue.

2018: A.10783 - referred to ways and means.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to taxable years
beginning on or after January 1, 2023.

2023-S4458 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4458
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 9, 2023
                                ___________
 
 Introduced  by  Sen.  ASHBY  -- 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  tax  credit  for
   households  or businesses that install a water purification or filtra-
   tion system

   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) WATER FILTRATION OR PURIFICATION TAX CREDIT. (1) A TAXPAYER  WHO
 PURCHASES  AND  INSTALLS  A  WATER  PURIFICATION OR FILTRATION SYSTEM IN
 THEIR RESIDENCE AND/OR  BUSINESS,  IF  SUCH  RESIDENCE  OR  BUSINESS  IS
 LOCATED  WITHIN  THIS  STATE,  SHALL BE ALLOWED A CREDIT AGAINST THE TAX
 OTHERWISE IMPOSED UNDER THIS ARTICLE IN AN AMOUNT EQUAL TO FIVE  HUNDRED
 DOLLARS.
   (2)  A TAXPAYER MAY CLAIM ONE CREDIT PURSUANT TO PARAGRAPH ONE OF THIS
 SUBSECTION FOR  EACH  RESIDENCE  OR  BUSINESS  FOR  WHICH  THE  TAXPAYER
 PURCHASES AND INSTALLS A NEW WATER PURIFICATION OR FILTRATION SYSTEM.
   (3)  FOR  PURPOSES OF THIS SUBSECTION A "WATER PURIFICATION OR FILTRA-
 TION SYSTEM" SHALL MEAN A SYSTEM THAT REMOVES IMPURITIES FROM  WATER  BY
 MEANS  OF  A  FINE  PHYSICAL BARRIER, A CHEMICAL PROCESS OR A BIOLOGICAL
 PROCESS THAT WAS INSTALLED BY A PROFESSIONAL.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2023.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06235-01-3

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