senate Bill S3956C

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:
A7537B
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:S3956C

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, 2015.

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--C

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 28, 2013
                               ___________

Introduced by Sens. GRISANTI, KENNEDY -- 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 commit-
  tee -- 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 --  recommitted
  to the Committee on Housing, Construction and Community Development in
  accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

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 (xx) to read as follows:
  (XX) UNIVERSAL VISITABILITY TAX CREDIT. 1. FOR TAXABLE YEARS BEGINNING
ON OR AFTER APRIL FIRST, TWO THOUSAND FIFTEEN, 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-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09442-06-3

S. 3956--C                          2

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.
  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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