S T A T E O F N E W Y O R K
________________________________________________________________________
1712
2009-2010 Regular Sessions
I N A S S E M B L Y
January 9, 2009
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Introduced by M. of A. ENGLEBRIGHT, SCHROEDER, KOON, TITONE, CAHILL,
GREENE, J. RIVERA, BENEDETTO, MARKEY, EDDINGTON, ESPAILLAT -- Multi-
Sponsored by -- M. of A. AUBRY, BOYLAND, COOK, HEASTIE, HYER-SPENCER,
MAISEL, PEOPLES, N. RIVERA, ROBINSON, SCHIMEL, WEISENBERG -- read once
and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to providing for a credit
against personal income tax for sheltering a homeless person sixty-two
years of age or older
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 (o-1) to read as follows:
(O-1) SHELTERING HOMELESS PERSON CREDIT. (1) FOR TAXABLE YEARS BEGIN-
NING ON OR AFTER TWO THOUSAND NINE, A TAXPAYER SHALL BE ALLOWED A CRED-
IT, TO BE CREDITED AGAINST THE TAX IMPOSED BY THIS ARTICLE, AFTER ALLOW-
ANCE OF ANY OTHER CREDIT PROVIDED UNDER THIS SECTION AND ANY CREDITS
PERMITTED UNDER SECTIONS SIX HUNDRED TWENTY, SIX HUNDRED TWENTY-ONE AND
SIX HUNDRED THIRTY-FIVE OF THIS ARTICLE. THE AMOUNT OF THE CREDIT SHALL
BE ONE THOUSAND DOLLARS FOR EACH HOMELESS PERSON SIXTY-TWO YEARS OF AGE
OR OLDER WHOM THE TAXPAYER SHELTERS IN HIS OR HER HOME, PROVIDING ROOM
AND BOARD, DURING THE TAXABLE YEAR, PROVIDED THAT SUCH HOMELESS PERSON
SHALL HAVE BEEN SHELTERED BY THE TAXPAYER FOR NOT LESS THAN ONE YEAR.
(2) IN NO EVENT SHALL THE AMOUNT OF THE CREDIT PROVIDED FOR IN THIS
SUBSECTION BE ALLOWED IN EXCESS OF THE TAXPAYER'S TAX FOR SUCH YEAR.
HOWEVER, IF THE AMOUNT OF CREDIT OTHERWISE ALLOWABLE UNDER THIS
SUBSECTION FOR ANY TAXABLE YEAR RESULTS IN SUCH EXCESS AMOUNT, ANY
AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER
TO THE FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S
TAX FOR SUCH YEAR OR YEARS.
(3) FOR PURPOSES OF THIS SUBSECTION, "HOMELESS PERSON" SHALL HAVE THE
MEANING PRESCRIBED IN SUBDIVISION TWO OF SECTION FORTY-TWO OF THE SOCIAL
SERVICES LAW, PROVIDED THAT SUCH PERSON IS SIXTY-TWO YEARS OF AGE OR
OLDER.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01947-01-9