senate Bill S1286A

2011-2012 Legislative Session

Establishes a tax credit for personal property replacement as a result of bedbug infestation

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 11, 2012 print number 1286a
amend and recommit to investigations and government operations
Jan 04, 2012 referred to investigations and government operations
Jan 06, 2011 referred to investigations and government operations

Bill Amendments

Original
A (Active)
Original
A (Active)

S1286 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2009-2010 Legislative Session:
S7065

S1286 - Summary

Establishes a tax credit for personal property replacement as a result of bedbug infestation; credit of 15% not to exceed $750; certification determined by commissioner.

S1286 - Sponsor Memo

S1286 - Bill Text download pdf

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

                                  1286

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             January 6, 2011
                               ___________

Introduced  by  Sen.  DUANE  -- 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 personal property replacement as a result of bedbug infestation

  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 (ss) to read as follows:
  (SS)  PERSONAL PROPERTY REPLACEMENT CREDIT. (1) GENERAL. AN INDIVIDUAL
TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
CLE EQUAL TO FIFTEEN PERCENT OF QUALIFIED PERSONAL PROPERTY  REPLACEMENT
EXPENDITURES, AND NOT TO EXCEED SEVEN HUNDRED FIFTY DOLLARS.
  (2) QUALIFIED PERSONAL PROPERTY REPLACEMENT EXPENDITURES. (A) THE TERM
"QUALIFIED  PERSONAL  PROPERTY  REPLACEMENT EXPENDITURES" MEANS EXPENDI-
TURES MADE FOR THE  REPLACEMENT  OF  PERSONAL  PROPERTY  DUE  TO  BEDBUG
DAMAGE.
  (B)  SUCH  QUALIFIED  EXPENDITURES SHALL INCLUDE BUT NOT BE LIMITED TO
FURNITURE, RUGS OR OTHER HOME GOODS THAT MAY BE DAMAGED BY BEDBUG INFES-
TATION.
  (C) SUCH QUALIFIED PERSONAL PROPERTY  REPLACEMENT  EXPENDITURES  SHALL
NOT INCLUDE INTEREST OR OTHER FINANCE CHARGES.
  (3)  CERTIFICATION FOR CREDIT ALLOWANCE. THE COMMISSIONER SHALL DETER-
MINE THE PROCEDURE FOR CERTIFICATION FOR THE CREDIT AUTHORIZED  PURSUANT
TO THIS SUBSECTION.
  S 2. This act shall take effect immediately and shall apply to taxable
years  beginning  on  and after the first of January next succeeding the
date on which it shall have become a law.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01188-01-1

S1286A (ACTIVE) - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2009-2010 Legislative Session:
S7065

S1286A (ACTIVE) - Summary

Establishes a tax credit for personal property replacement as a result of bedbug infestation; credit of 15% not to exceed $750; certification determined by commissioner.

S1286A (ACTIVE) - Sponsor Memo

S1286A (ACTIVE) - Bill Text download pdf

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

                                 1286--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             January 6, 2011
                               ___________

Introduced  by  Sen.  DUANE  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations -- recommitted to the Committee on Investigations  and
  Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN  ACT  to  amend the tax law, in relation to establishing a tax credit
  for personal property replacement as a result of bedbug infestation

  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 (uu) to read as follows:
  (UU) PERSONAL PROPERTY REPLACEMENT CREDIT. (1) GENERAL. AN  INDIVIDUAL
TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
CLE  EQUAL TO FIFTEEN PERCENT OF QUALIFIED PERSONAL PROPERTY REPLACEMENT
EXPENDITURES, AND NOT TO EXCEED SEVEN HUNDRED FIFTY DOLLARS.
  (2) QUALIFIED PERSONAL PROPERTY REPLACEMENT EXPENDITURES. (A) THE TERM
"QUALIFIED PERSONAL PROPERTY REPLACEMENT  EXPENDITURES"  MEANS  EXPENDI-
TURES  MADE  FOR  THE  REPLACEMENT  OF  PERSONAL  PROPERTY DUE TO BEDBUG
DAMAGE.
  (B) SUCH QUALIFIED EXPENDITURES SHALL INCLUDE BUT NOT  BE  LIMITED  TO
FURNITURE, RUGS OR OTHER HOME GOODS THAT MAY BE DAMAGED BY BEDBUG INFES-
TATION.
  (C)  SUCH  QUALIFIED  PERSONAL PROPERTY REPLACEMENT EXPENDITURES SHALL
NOT INCLUDE INTEREST OR OTHER FINANCE CHARGES.
  (3) CERTIFICATION FOR CREDIT ALLOWANCE. THE COMMISSIONER SHALL  DETER-
MINE  THE PROCEDURE FOR CERTIFICATION FOR THE CREDIT AUTHORIZED PURSUANT
TO THIS SUBSECTION.
  S 2. This act shall take effect immediately and shall apply to taxable
years beginning on and after the first of January  next  succeeding  the
date on which it shall have become a law.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01188-02-2

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