S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1479
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             January 10, 2025
                                ___________
 
 Introduced  by  Sens.  O'MARA,  ASHBY,  BORRELLO, CANZONERI-FITZPATRICK,
   GRIFFO, HELMING, OBERACKER, STEC, TEDISCO, WEBER  --  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 establishing a home  heating
   tax credit; and providing for the repeal of such provisions upon expi-
   ration thereof
 
   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 (ll-1) to read as follows:
   (LL-1)  HOME  HEATING  TAX CREDIT. (1) FOR PURPOSES OF THIS SUBSECTION
 THE TERM "QUALIFIED TAXPAYER" SHALL MEAN A RESIDENT  INDIVIDUAL  OF  THE
 STATE,  WHO MAINTAINED SUCH INDIVIDUAL'S PRIMARY RESIDENCE IN THIS STATE
 ON DECEMBER THIRTY-FIRST OF THE TAXABLE YEAR, AND WHO WAS  AN  OWNER  OF
 SUCH PROPERTY ON SUCH DATE OR RENTERS WHO ARE RESPONSIBLE FOR PAYING FOR
 THEIR  OWN HEAT, AND WHO ARE NOT ELIGIBLE FOR THE HOME ENERGY ASSISTANCE
 PROGRAM. AN INDIVIDUAL SHALL BE CONSIDERED  A  QUALIFIED  TAXPAYER  WITH
 RESPECT  TO  NO MORE THAN ONE PRIMARY RESIDENCE DURING ANY GIVEN TAXABLE
 YEAR.
   (2) THE TAX CREDIT  UNDER  THIS  SUBSECTION  SHALL  BE  DETERMINED  AS
 FOLLOWS:
   (A)  FOR  SINGLE INDIVIDUALS THAT ARE QUALIFIED TAXPAYERS, A CREDIT OF
 THREE HUNDRED DOLLARS FOR THOSE WITH INCOME OF ONE  HUNDRED  TWENTY-FIVE
 THOUSAND DOLLARS OR LESS.
   (B)  FOR  MARRIED  INDIVIDUALS  THAT  ARE QUALIFIED TAXPAYERS AND FILE
 JOINTLY, A CREDIT OF SIX HUNDRED DOLLARS FOR THOSE WITH  INCOME  OF  TWO
 HUNDRED FIFTY THOUSAND DOLLARS OR LESS.
   (3)  IF  THE  AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION SHALL
 EXCEED THE TAXPAYER'S TAX FOR THE TAXABLE  YEAR,  THE  EXCESS  SHALL  BE
 TREATED  AS  AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN ACCORD-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04395-02-5
              

 S. 1479                             2
 
 ANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTI-
 CLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON. FOR EACH
 YEAR SUCH CREDIT IS ALLOWED, ON OR  BEFORE  OCTOBER  FIFTEENTH  OF  SUCH
 YEAR,  OR  AS  SOON THEREAFTER AS IS PRACTICABLE, THE COMMISSIONER SHALL
 DETERMINE THE TAXPAYER'S  ELIGIBILITY  FOR  SUCH  CREDIT  UTILIZING  THE
 INFORMATION  AVAILABLE  TO  THE  COMMISSIONER ON THE TAXPAYER'S PERSONAL
 INCOME TAX RETURN FILED FOR THE TAXABLE YEAR  TWO  YEARS  PRIOR  TO  THE
 TAXABLE  YEAR  IN WHICH SUCH CREDIT IS ALLOWED. FOR THOSE TAXPAYERS WHOM
 THE COMMISSIONER HAS DETERMINED TO BE  ELIGIBLE  FOR  SUCH  CREDIT,  THE
 COMMISSIONER  SHALL  ADVANCE  A PAYMENT IN THE AMOUNT SPECIFIED IN PARA-
 GRAPH TWO OF THIS SUBSECTION, WHICH PAYMENT  SHALL  BE  ISSUED,  TO  THE
 GREATEST  EXTENT  PRACTICABLE, BY OCTOBER THIRTY-FIRST OF EACH YEAR SUCH
 CREDIT IS ALLOWED.   A TAXPAYER WHO HAS FAILED  TO  RECEIVE  AN  ADVANCE
 PAYMENT THAT SUCH TAXPAYER BELIEVES WAS DUE TO SUCH TAXPAYER, OR WHO HAS
 RECEIVED AN ADVANCE PAYMENT THAT SUCH TAXPAYER BELIEVES IS LESS THAN THE
 AMOUNT  THAT  WAS  DUE  TO  SUCH  TAXPAYER,  MAY REQUEST PAYMENT OF SUCH
 CLAIMED DEFICIENCY IN A MANNER PRESCRIBED BY THE COMMISSIONER.
   § 2. This act shall take effect immediately and  shall  apply  to  the
 taxable  year  2024 and shall expire and be deemed repealed December 31,
 2025.