senate Bill S3956B

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

Versions:
S3956
S3956A
S3956B
S3956C
Legislative Cycle:
2013-2014
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L

Sponsor Memo

BILL NUMBER:S3956B

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

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

SUMMARY OF 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 Department of State Division of Code Enforcement and
Administration. 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.

LEGISLATIVE HISTORY:

None.

FISCAL IMPLICATIONS:

Minimal.

EFFECTIVE DATE:

Immediately.

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

                                 3956--B

                       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  --  reported
  favorably  from  said  committee  and  committed  to  the Committee on
  Finance -- 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 CODE ENFORCEMENT AND ADMINIS-
TRATION WITHIN THE DEPARTMENT OF STATE.
  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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09442-04-3

S. 3956--B                          2

HUNDRED FIFTY DOLLARS FOR THE RETROFITTING OR RENOVATION OF EACH  EXIST-
ING RESIDENCE OR UNIT.
  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  CODE  ENFORCEMENT  AND  ADMINISTRATION WITHIN THE
DEPARTMENT OF STATE. THE DIVISION OF CODE ENFORCEMENT AND ADMINISTRATION
WITHIN THE DEPARTMENT OF  STATE  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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