Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 15, 2014 |
referred to investigations and government operations |
Senate Bill S7513
2013-2014 Legislative Session
Sponsored By
(D, WF) 21st Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2013-S7513 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Add §42, amd §210 & 606, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2015-2016:
S2571
2017-2018: S2869
2019-2020: S3591
2013-S7513 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7513 TITLE OF BILL: An act to amend the tax law, in relation to establishing a tax credit for developers utilizing renewable energy sources in affordable housing units PURPOSE: Provides a tax credit to developers using renewable sources of energy, per unit of an affordable housing facility consisting of 10 or more units in order to reduce the cost of utilities that render multi-family housing unaffordable to persons between 30% and less than 100% of the AMI. JUSTIFICATION: According to US HUD Secretary Donovan the Home Energy Affordability Gap Index based on energy bills for persons below 185 percent of the Federal Poverty Level. Five years ago that gap was at $34 billion and while the estimates for this past winter have yet to be published, the range of increase was approximately 30% to 70% over the prior year. The burden on the poor is more than four times the average 4 percent others pay. Utility cut-offs frequently result in eviction and ultimately in foreclosure. HUD's own programs are affected by energy costs pertaining to heating, lighting, and cooling its portfolio of public and assisted housing and section 8 vouchers. The cost of
2013-S7513 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7513 I N S E N A T E May 15, 2014 ___________ Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to establishing a tax credit for developers utilizing renewable energy sources in affordable hous- ing units THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 42 to read as follows: S 42. CREDIT FOR UTILIZING RENEWABLE ENERGY SOURCES. (A) GENERAL. A TAXPAYER SUBJECT TO TAX UNDER ARTICLE 9-A OR TWENTY-TWO OF THIS CHAPTER, WHO IS A DEVELOPER WHO USES RENEWABLE SOURCES OF ENERGY, AS SUCH TERM IS DEFINED IN SUBDIVISION TWELVE OF SECTION 1-103 OF THE ENERGY LAW, DURING THE CONSTRUCTION OF AN AFFORDABLE HOUSING FACILITY, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAXES IN AN AMOUNT OF TWO THOUSAND DOLLARS PER QUAL- IFIED UNIT AND PURSUANT TO THE PROVISIONS REFERENCED IN SUBDIVISION (C) OF THIS SECTION. (B) DEFINITIONS. (1) "AFFORDABLE HOUSING FACILITY" SHALL MEAN A BUILD- ING CONTAINING TEN OR MORE UNITS, NINETY PERCENT OF WHICH ARE QUALIFIED UNITS. (2) "QUALIFIED UNIT" SHALL MEAN ANY UNIT WITHIN AN AFFORDABLE HOUSING FACILITY THAT USES RENEWABLE SOURCES OF ENERGY AND IS OCCUPIED BY ONE OR MORE PEOPLE WHOSE TOTAL INCOME IS LESS THAN ONE HUNDRED PERCENT OF THE AREA MEDIAN INCOME. (C) CROSS-REFERENCES. FOR APPLICATION OF THE CREDIT PROVIDED FOR IN THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER: (1) ARTICLE 9-A: SECTION 210, SUBDIVISION 50 (2) ARTICLE 22: SECTION 606, SUBSECTIONS (I) AND (CCC) S 2. Section 210 of the tax law is amended by adding a new subdivision 50 to read as follows: 50. CREDIT FOR UTILIZING RENEWABLE ENERGY SOURCES. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION FORTY-TWO OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE. IN NO EVENT SHALL EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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