S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5276
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               March 1, 2023
                                ___________
 
 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 (ooo) to read as follows:
   (OOO)  DISABLED  PERSON  RETROFIT  TAX  CREDIT.  (1) FOR TAXABLE YEARS
 BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWENTY-FOUR, A TAXPAY-
 ER 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.
                                                            LBD00477-02-3
 S. 5276                             2
              

 
   (C) REINFORCEMENTS IN BATHROOM WALLS  ALLOWING  INSTALLATION  OF  GRAB
 BARS AROUND THE TOILET, TUB AND SHOWER; AND
   (D) LIGHT SWITCHES AND OUTLETS PLACED IN LOCATIONS ACCESSIBLE TO DISA-
 BLED PERSONS.
   (3)  IF  THE  AMOUNT  OF  CREDIT ALLOWABLE UNDER THIS SUBSECTION SHALL
 EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS MAY BE CARRIED  OVER
 TO  THE  FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S
 TAX FOR SUCH YEAR OR YEARS.
   (4) (A) THE PROVISIONS OF THIS  SUBSECTION  SHALL  NOT  APPLY  TO  ANY
 DWELLING OWNED SOLELY FOR COMMERCIAL PURPOSES. IN THE CASE OF A BUILDING
 WHERE  LESS  THAN  THE  ENTIRE  BUILDING  IS  USED AS A RESIDENCE OF THE
 TAXPAYER, ONLY THE PORTION OF THE TOTAL EXPENDITURES MADE IN THE  BUILD-
 ING  THAT  IS  ATTRIBUTABLE  TO  THE  RESIDENCE OF THE TAXPAYER SHALL BE
 TREATED AS QUALIFIED EXPENDITURES FOR THE PURPOSES OF THIS SUBSECTION.
   (B) IF THE TAXPAYER OCCUPIES THE DWELLING AS HIS OR HER PRIMARY  RESI-
 DENCE  FOR  ONLY  A  PORTION  OF A TAX YEAR IN WHICH A CREDIT UNDER THIS
 SUBSECTION IS CLAIMED, THE AMOUNT  OF  THE  ALLOWABLE  CREDIT  SHALL  BE
 REDUCED  IN PROPORTION TO THE AMOUNT OF TIME THE TAXPAYER DID NOT OCCUPY
 THE DWELLING AS HIS OR HER PRIMARY RESIDENCE.
   (C) IN THE CASE OF A DWELLING THAT IS OWNED BY AND IS A  RESIDENCE  OF
 TWO  OR  MORE PERSONS, OTHER THAN A HUSBAND AND WIFE, THE PORTION OF THE
 TOTAL EXPENDITURES MADE IN THE REHABILITATION OF THE  BUILDING  THAT  IS
 ATTRIBUTABLE  TO EACH TAXPAYER SHALL BE EQUAL TO THE TAXPAYER'S SHARE OF
 OWNERSHIP IN SUCH BUILDING.
   (5) THE TAXPAYER SHALL FURNISH SUCH INFORMATION  AS  THE  COMMISSIONER
 DETERMINES IS NECESSARY TO DETERMINE ANY CREDIT UNDER THIS SUBSECTION.
   (6)  THE  AGGREGATE AMOUNT OF TAX CREDITS ALLOWED SHALL BE ONE MILLION
 DOLLARS EACH YEAR. SUCH AGGREGATE AMOUNT OF CREDITS SHALL  BE  ALLOCATED
 BY  THE  DEPARTMENT  AMONG TAXPAYERS IN ORDER OF PRIORITY BASED UPON THE
 DATE OF FILING. IF THE TOTAL AMOUNT OF ALLOCATED CREDITS APPLIED FOR  IN
 ANY  PARTICULAR YEAR EXCEEDS THE AGGREGATE AMOUNT OF TAX CREDITS ALLOWED
 FOR SUCH YEAR UNDER THIS SECTION, SUCH EXCESS SHALL BE TREATED AS HAVING
 BEEN APPLIED FOR ON THE FIRST DAY OF THE SUBSEQUENT YEAR.
   § 2. This act shall take effect immediately and  shall  be  deemed  to
 have  been  in  full  force  and  effect  on  and after January 1, 2024;
 provided further, this act shall apply to all tax years commencing on or
 after January 1, 2024.