senate Bill S3956A

Amended

Relates to a tax credit for visitability

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Bill Status


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

  • 28 / Feb / 2013
    • REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
  • 01 / May / 2013
    • AMEND (T) AND RECOMMIT TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
  • 01 / May / 2013
    • PRINT NUMBER 3956A
  • 21 / May / 2013
    • REPORTED AND COMMITTED TO FINANCE
  • 28 / May / 2013
    • AMEND AND RECOMMIT TO FINANCE
  • 28 / May / 2013
    • PRINT NUMBER 3956B
  • 11 / Jun / 2013
    • COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • 11 / Jun / 2013
    • ORDERED TO THIRD READING CAL.1264
  • 12 / Jun / 2013
    • PASSED SENATE
  • 12 / Jun / 2013
    • DELIVERED TO ASSEMBLY
  • 12 / Jun / 2013
    • REFERRED TO WAYS AND MEANS
  • 08 / Jan / 2014
    • DIED IN ASSEMBLY
  • 08 / Jan / 2014
    • RETURNED TO SENATE
  • 08 / Jan / 2014
    • REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
  • 09 / Jan / 2014
    • AMEND AND RECOMMIT TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
  • 09 / Jan / 2014
    • PRINT NUMBER 3956C
  • 27 / Jan / 2014
    • REPORTED AND COMMITTED TO FINANCE
  • 16 / Jun / 2014
    • COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • 16 / Jun / 2014
    • ORDERED TO THIRD READING CAL.1380
  • 16 / Jun / 2014
    • PASSED SENATE
  • 16 / Jun / 2014
    • DELIVERED TO ASSEMBLY
  • 16 / Jun / 2014
    • REFERRED TO WAYS AND MEANS

Summary

Relates to a credit for purchase, construction or retrofitting of a principal residence to achieve universal visitability pursuant to standards adopted by the division of housing and community renewal.

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Bill Details

See Assembly Version of this Bill:
A7537
Versions:
S3956
S3956A
S3956B
S3956C
Legislative Cycle:
2013-2014
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L

Votes

7
0
7
Aye
0
Nay
1
aye with reservations
0
absent
0
excused
0
abstained
show Housing, Construction and Community Development committee vote details

Sponsor Memo

BILL NUMBER:S3956A

TITLE OF BILL: An act to amend the tax law, in relation to providing
a tax credit for universal visitability

PURPOSE: To allow a tax credit for either new or retrofitted principal
residences which are universally designed to be accessible and
adaptable housing.

SUMMARY OF SPECIFIC PROVISIONS: This bill amends the Tax Law to
provide a tax credit for a newly constructed principal residence not
to exceed $2,750 or for a renovated principal residence of 30% of the
amount expended, not to exceed $2,750, for universal visitability.
Eligibility requirements for universal visitability would be
established though guidelines by the Division of Housing and Community
renewal. This credit would be effective beginning April 1, 2014.

JUSTIFICATION: This legislation provides a positive incentive for
universal design changes to create accessible and adaptable housing
which is important to allow individuals to age in place. Universal
design changes make residences accessible and user friendly for senior
citizens and others with limited mobility. By providing seniors with
the opportunity to age in place, this may save some of the costs
associated with assisted living or nursing homes. This bill would
provide an alternative for many seniors who are able to remain in
place with universal design changes. It also will assist in building
an inventory of residence which will have universal design to ensure
accessibility. The use of a tax credit provides an incentive rather
than a mandated approach.

PRIOR LEGISLATIVE HISTORY: None.

FISCAL IMPLICATIONS: Unknown but limited.

EFFECTIVE DATE: Immediately.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3956--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 28, 2013
                               ___________

Introduced  by Sen. GRISANTI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Housing, Construction  and
  Community  Development  -- committee discharged, bill amended, ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the tax law, in relation to providing a tax  credit  for
  universal visitability

  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 (ww) to read as follows:
  (WW) UNIVERSAL VISITABILITY TAX CREDIT. 1. FOR TAXABLE YEARS BEGINNING
ON  OR  AFTER  APRIL  FIRST,  TWO THOUSAND FOURTEEN, A RESIDENT TAXPAYER
SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR  A
PORTION OF THE TOTAL PURCHASE PRICE PAID BY SUCH RESIDENT TAXPAYER FOR A
NEW  PRINCIPAL  RESIDENCE  ATTRIBUTABLE TO UNIVERSAL VISITABILITY OR THE
TOTAL AMOUNT EXPENDED BY A RESIDENT TAXPAYER  TO  RETROFIT  AN  EXISTING
PRINCIPAL  RESIDENCE TO ACHIEVE UNIVERSAL VISITABILITY PROVIDED THAT THE
NEW PRINCIPAL RESIDENCE OR THE RETROFITTING OF  THE  EXISTING  PRINCIPAL
RESIDENCE IS LOCATED WITHIN THIS STATE AND DESIGNED TO PROVIDE UNIVERSAL
VISITABILITY AS DEFINED THROUGH THE ELIGIBILITY REQUIREMENTS ESTABLISHED
BY  GUIDELINES  DEVELOPED  BY  THE  DIVISION  OF  HOUSING  AND COMMUNITY
RENEWAL.
  2. THE CREDIT SHALL BE ALLOWED FOR THE TAXABLE YEAR IN WHICH THE RESI-
DENCE HAS BEEN PURCHASED OR CONSTRUCTED, OR THE  RETROFITTING  OR  RENO-
VATION  OF  THE  RESIDENCE  OR  RESIDENTIAL UNIT HAS BEEN COMPLETED. THE
CREDIT ALLOWED UNDER THIS SECTION  SHALL  NOT  EXCEED  (I)  TWENTY-SEVEN
HUNDRED FIFTY DOLLARS FOR THE PURCHASE OF A NEW RESIDENCE, OR (II) FIFTY
PERCENT  OF  THE  TOTAL  AMOUNT EXPENDED, BUT NOT TO EXCEED TWENTY-SEVEN
HUNDRED FIFTY DOLLARS FOR THE RETROFITTING OR RENOVATION OF EACH  EXIST-
ING RESIDENCE OR UNIT.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09442-02-3

S. 3956--A                          2

  3.  NO  CREDIT  SHALL  BE ALLOWED UNDER THIS SECTION FOR THE PURCHASE,
RETROFITTING OR RENOVATION OF RESIDENTIAL RENTAL PROPERTY.
  4.  IF  THE AMOUNT OF THE 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.
  5. ELIGIBLE TAXPAYERS SHALL APPLY FOR THE CREDIT BY MAKING APPLICATION
TO THE DIVISION OF HOUSING AND COMMUNITY RENEWAL. THE DIVISION OF  HOUS-
ING  AND  COMMUNITY  RENEWAL SHALL ISSUE A CERTIFICATION FOR AN APPROVED
APPLICATION TO THE TAXPAYER. THE TAXPAYER SHALL SUBMIT THE CERTIFICATION
TOGETHER WITH THEIR PERSONAL INCOME RETURN.
  S 2. This act shall take effect immediately.

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