senate Bill S5944B

Provides a tax credit to home owners who repair cock loft fire hazards in their homes

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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

  • 02 / Oct / 2013
    • REFERRED TO RULES
  • 08 / Jan / 2014
    • REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • 29 / Jan / 2014
    • AMEND AND RECOMMIT TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • 29 / Jan / 2014
    • PRINT NUMBER 5944A
  • 02 / Jun / 2014
    • REPORTED AND COMMITTED TO FINANCE
  • 17 / Jun / 2014
    • AMEND AND RECOMMIT TO FINANCE
  • 17 / Jun / 2014
    • PRINT NUMBER 5944B
  • 19 / Jun / 2014
    • COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • 19 / Jun / 2014
    • ORDERED TO THIRD READING CAL.1606
  • 20 / Jun / 2014
    • PASSED SENATE
  • 20 / Jun / 2014
    • DELIVERED TO ASSEMBLY
  • 20 / Jun / 2014
    • REFERRED TO WAYS AND MEANS

Summary

Provides a tax credit to home owners who repair cock loft fire hazards in their homes.

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Bill Details

See Assembly Version of this Bill:
A1336B
Versions:
S5944
S5944A
S5944B
Legislative Cycle:
2013-2014
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L

Sponsor Memo

BILL NUMBER:S5944B

TITLE OF BILL: An act to amend the tax law, in relation to providing a
tax credit for a portion of the cost of repairing certain fire hazards

PURPOSE OR GENERAL IDEA OF BILL:

Provides a tax credit to homeowners who repair cock loft fire hazards in
their homes.

SUMMARY OF SPECIFIC PROVISIONS:

Section 606 of the Tax Law is amended by adding a new subsection (ccc)
to provide for a 30% refundable tax credit, up to a maximum of $500, for
repairing fire hazards commonly known as cocklofts, which are defined as
a completely enclosed space between the rafters and a suspended ceiling.

JUSTIFICATION:

This legislation is introduced as a result of a major fires that have
taken place in Queens and Brooklyn. In these cases, the fire began in a
single family home fire which quickly spread down the entire block of
homes because of the existence of cock lofts which connected these hous-
es. Homes on the block were quickly consumed by the fire. If the cock
lofts were closed off, the devastation these fires caused would probably
not have been so great.

Row houses are no longer designed and built with cock lofts because of
the fire hazard. However, closing off these, already in existence,
passage ways is not considered by homeowners because there is no induce-
ment to do so. This legislation will give homeowners the tax incentive
they may need to correct this building flaw, which may one day prove
useful in avoiding another catastrophe.

PRIOR LEGISLATIVE HISTORY:

2013: S. 5944 - Referred to Senate Rules Committee.

FISCAL IMPLICATIONS:

To Be Determined.

EFFECTIVE DATE:

This act shall take effect immediately and shall apply to taxable years
beginning on or after January 1, 2014.

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

                                 5944--B

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             October 2, 2013
                               ___________

Introduced  by  Sen. ADDABBO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules  --  recommitted  to
  the  Committee  on Investigations and Government Operations in accord-
  ance with Senate Rule 6, sec. 8 -- 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 a
  portion of the cost of repairing certain fire hazards

  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 (ccc) to read as follows:
  (CCC) CREDIT FOR REPAIRING CERTAIN  FIRE  HAZARDS.  (1)  ANY  RESIDENT
OWNER  OF    REAL  PROPERTY AS DEFINED IN SECTION ONE HUNDRED TWO OF THE
REAL PROPERTY TAX LAW SHALL BE ALLOWED A CREDIT AGAINST THE  TAX  OTHER-
WISE  IMPOSED UNDER THIS ARTICLE IN AN AMOUNT EQUAL TO THIRTY PERCENT OF
THE COST OF  REPAIRING  FIRE  HAZARDS  COMMONLY  KNOWN  AS  COCK  LOFTS,
PROVIDED  THAT  SUCH  CREDIT SHALL NOT EXCEED FIVE HUNDRED DOLLARS.  FOR
PURPOSES OF THIS SECTION THE TERM "COCK LOFT" SHALL  MEAN  A  COMPLETELY
ENCLOSED SPACE BETWEEN RAFTERS AND A SUSPENDED CEILING.
  (2)  IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR,  THE  EXCESS
SHALL  BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  S 2. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2014.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11872-05-4

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