senate Bill S234

Provides for an increase in federal itemized deduction for home improvements which promote water quality

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 07 / Jan / 2009
    • REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • 06 / Jan / 2010
    • REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Summary

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Bill Details

See Assembly Version of this Bill:
A344
Versions:
S234
Legislative Cycle:
2009-2010
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law

Sponsor Memo

BILL NUMBER: S234

TITLE OF BILL :
An act to amend the tax law, in relation to modifications increasing
federal itemized deductions for home improvements


PURPOSE :
A fifty percent enticement to improve a one, two or three-family home
that will promote environmental quality.

SUMMARY OF PROVISIONS :
Adds a new paragraph 5 to §1 subsection (d) of §615 of the tax law.

LEGISLATIVE HISTORY :
2007-08, S.144; 2005-06, S.584; 2003-04, S.723; 2001-02, S.2106;
1999-00, S.1636; 1997-98, S.2661

FISCAL IMPLICATIONS :
An amount, not to exceed fifty percent of the amount expended by a
taxpayer who is a homeowner. This deduction is limited to one thousand
dollars in anyone tax year.

EFFECTIVE DATE :
This act shall take effect immediately.
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