Senate Bill S5893

2011-2012 Legislative Session

Establishes a credit against income tax for residents and business owners who incurred damage to property as a result of tropical storms Irene and Lee

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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

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 04, 2012	referred to investigations and government operations
Oct 21, 2011	print number 5893a
Oct 21, 2011	amend (t) and recommit to rules
Sep 21, 2011	referred to rules

Bill Amendments

Original

A (Active)

2011-S5893 - Details

See Assembly Version of this Bill:: A8643
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §§606 & 210, Tax L

2011-S5893 - Summary

Establishes a credit for sales tax paid by victims who incurred damage as a result of tropical storms Irene and Lee.

2011-S5893 - Sponsor Memo

                                BILL NUMBER:S5893

TITLE OF BILL:
An act
to amend the tax law, in relation to establishing a tax credit for
sales tax paid by victims of tropical storms Irene and Lee

PURPOSE:
Establishes a credit against income tax for residents and
business owners who incurred damage to property as a result of
Tropical Storms Irene and Lee.

SUMMARY OF PROVISIONS:
Section 1: Amends § 606 of the tax law by adding new subsection (tt)
stating that residential victims of Tropical Storms Irene and Lee,
residents residing in the disaster areas, are entitled to a credit
against their income taxes for 2011 and 2012. The amount of credit
shall be equal to the sales tax paid for expenses in replacing
appliances, furniture, building materials, moving expenses and
storage costs.

Section 2: Amends § 210 of the tax law by adding a new subsection 44
stating that business owners who are victims of Tropical Storms Irene
in the disaster areas are entitled to a credit against their income
taxes for 2011 and 2012.
The amount of credit shall be equal to the sales tax paid for the

expenses in replacing appliances, furniture, building materials,
moving expenses and storage costs.

Section 3: Amends Subparagraph (B) of paragraph 1 or subsection (i) of
section 606 adding a new clause, clause (xxxiii) to allow tax code to
be changed to establish the Tropical Storms Irene and Lee tax credit.

Section 4: Allows act to take effect immediately.

JUSTIFICATION:
The devastating impact of Tropical Storms Irene and Lee on the lives
of thousands of New Yorkers is heartbreaking. Too many people have
had their lives torn apart losing their homes and businesses. It's
critical that our state continues to do everything in its power to
help our neighbors rebuild.

Eliminating sales taxes on the essentials for flood victims is one way
New York State can help our fellow New Yorkers get back on their feet.

The sales tax credits in this legislation are for moving expenses
(renting a truck, placing belongings in storage) and for replacing
sump pumps, furnaces, refrigerators, washers, dryers, dehumidifiers,
boilers, furniture, construction materials and clothing.

Eligible recipients must reside in or own a business in any New York
county declared a federal disaster area and must show proof that they
are a flood victim by being certified by an insurer or state official.

This bill shall establish a tax credit that will be applicable to an
individuals' or business' 2011 and 2012 income taxes.


LEGISLATIVE HISTORY:
This is a new bill.

FISCAL IMPLICATIONS:
To be determined.

EFFECTIVE DATE:
This act will take effect immediately.

2011-S5893 - Bill Text download pdf

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

    S. 5893                                                  A. 8643

                       2011-2012 Regular Sessions

                      S E N A T E - A S S E M B L Y

                           September 21, 2011
                               ___________

IN  SENATE -- Introduced by Sen. FARLEY -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Rules

IN ASSEMBLY -- Introduced by M. of A. TEDISCO, CROUCH, TOBACCO  --  read
  once and referred to the Committee on Ways and Means

AN  ACT  to  amend the tax law, in relation to establishing a tax credit
  for sales tax paid by victims of tropical storms Irene and Lee

  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 (tt) to read as follows:
  (TT) CREDIT FOR SALES TAX PAID BY VICTIMS OF TROPICAL STORMS IRENE AND
LEE. (1) GENERAL. A TAXPAYER WHOSE RESIDENCE OR BUSINESS INCURRED DAMAGE
AS A RESULT OF TROPICAL STORM IRENE OF  TWO  THOUSAND  ELEVEN,  TROPICAL
STORM  LEE  OF TWO THOUSAND ELEVEN OR BOTH SUCH TROPICAL STORMS SHALL BE
ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE, TO BE COMPUTED
AS PROVIDED IN PARAGRAPH TWO OF THIS SUBSECTION.
  (2) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL BE EQUAL TO SALES TAX
PAID FOR EXPENSES RELATED TO DAMAGE INCURRED AS A  RESULT  OF  FLOODING,
HIGH  WINDS,  RAIN AND/OR MUDSLIDES CAUSED BY SUCH TROPICAL STORMS. SUCH
EXPENSES SHALL INCLUDE, BUT NOT BE LIMITED TO, EXPENSES FOR  MOVING  AND
STORAGE, AND FOR THE REPLACEMENT OF SUMP PUMPS, FURNACES, REFRIGERATORS,
WASHERS, DRYERS, DEHUMIDIFIERS, BOILERS, FURNITURE, CONSTRUCTION MATERI-
ALS AND CLOTHING.
  (3)  ELIGIBILITY.  TO  BE  ELIGIBLE TO RECEIVE SUCH CREDIT, A TAXPAYER
SHALL RESIDE OR HAVE A BUSINESS WITHIN A COUNTY IN THIS STATE WHICH  WAS
DECLARED  A FEDERAL DISASTER AREA AND IS ELIGIBLE TO RECEIVE FEDERAL AID
OR ASSISTANCE AS A RESULT OF SUCH TROPICAL STORMS FROM THE FEDERAL EMER-
GENCY MANAGEMENT AGENCY.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13461-02-1

S. 5893                             2                            A. 8643

  (4) APPLICABILITY. CREDIT ALLOWED PURSUANT TO  THIS  SUBSECTION  SHALL
APPLY TO PAYMENTS FOR SERVICES AND EXPENSES MADE DURING THE TWO THOUSAND
ELEVEN AND TWO THOUSAND TWELVE TAXABLE YEARS.
  S 2. Section 210 of the tax law is amended by adding a new subdivision
44 to read as follows:
  44.  CREDIT FOR SALES TAX PAID BY VICTIMS OF TROPICAL STORMS IRENE AND
LEE. (A) GENERAL. A TAXPAYER WHOSE BUSINESS INCURRED DAMAGE AS A  RESULT
OF  TROPICAL  STORM  IRENE OF TWO THOUSAND ELEVEN, TROPICAL STORM LEE OF
TWO THOUSAND ELEVEN OR BOTH SUCH TROPICAL  STORMS  SHALL  BE  ALLOWED  A
CREDIT  AGAINST  THE  TAX  IMPOSED  BY  THIS  ARTICLE, TO BE COMPUTED AS
PROVIDED IN PARAGRAPH (B) OF THIS SUBDIVISION.
  (B) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL BE EQUAL TO SALES TAX
PAID FOR EXPENSES RELATED TO DAMAGE INCURRED AS A  RESULT  OF  FLOODING,
HIGH  WINDS,  RAIN AND/OR MUDSLIDES CAUSED BY SUCH TROPICAL STORMS. SUCH
EXPENSES SHALL INCLUDE, BUT NOT BE LIMITED TO, EXPENSES FOR  MOVING  AND
STORAGE, AND FOR THE REPLACEMENT OF SUMP PUMPS, FURNACES, REFRIGERATORS,
WASHERS, DRYERS, DEHUMIDIFIERS, BOILERS, FURNITURE, CONSTRUCTION MATERI-
ALS AND CLOTHING.
  (C)  ELIGIBILITY.  TO  BE  ELIGIBLE TO RECEIVE SUCH CREDIT, A TAXPAYER
SHALL HAVE A BUSINESS WITHIN A COUNTY IN THIS STATE WHICH WAS DECLARED A
FEDERAL DISASTER AREA AND IS ELIGIBLE TO RECEIVE FEDERAL AID OR  ASSIST-
ANCE  AS  A  RESULT  OF  SUCH TROPICAL STORMS FROM THE FEDERAL EMERGENCY
MANAGEMENT AGENCY.
  (D) APPLICABILITY. CREDIT ALLOWED PURSUANT TO THIS  SUBDIVISION  SHALL
APPLY TO PAYMENTS FOR SERVICES AND EXPENSES MADE DURING THE TWO THOUSAND
ELEVEN AND TWO THOUSAND TWELVE TAXABLE YEARS.
  S  3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding  a new clause (xxxiii)  to  read  as
follows:
(XXXIII) CREDIT FOR SALES TAX           AMOUNT OF CREDIT UNDER
PAID BY VICTIMS OF TROPICAL STORMS      SUBDIVISION FORTY-FOUR
IRENE AND LEE UNDER SUBSECTION (TT)     OF SECTION TWO HUNDRED
                                        TEN
  S 4. This act shall take effect immediately.

2011-S5893A (ACTIVE) - Details

See Assembly Version of this Bill:: A8643
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §§606 & 210, Tax L

2011-S5893A (ACTIVE) - Summary

Establishes a credit for sales tax paid by victims who incurred damage as a result of tropical storms Irene and Lee.

2011-S5893A (ACTIVE) - Bill Text download pdf

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

    S. 5893--A                                            A. 8643--A

                       2011-2012 Regular Sessions

                      S E N A T E - A S S E M B L Y

                           September 21, 2011
                               ___________

IN  SENATE -- Introduced by Sen. FARLEY -- read twice and ordered print-
  ed, and when printed to be committed to  the  Committee  on  Rules  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

IN ASSEMBLY -- Introduced by M. of A. TEDISCO, CROUCH, TOBACCO,  GABRYS-
  ZAK, McLAUGHLIN, N. RIVERA, CALHOUN, RA, TITONE, BUTLER -- Multi-Spon-
  sored by -- M. of A. DUPREY -- read once and referred to the Committee
  on  Ways  and  Means  --  committee  discharged, bill amended, ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the tax law, in relation to establishing tax credits for
  state and county sales tax paid by victims of  tropical  storms  Irene
  and Lee

  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 (tt) to read as follows:
  (TT)  CREDIT  FOR  STATE  SALES TAX PAID BY VICTIMS OF TROPICAL STORMS
IRENE AND LEE. (1) GENERAL.  A  TAXPAYER  WHOSE  RESIDENCE  OR  BUSINESS
INCURRED  DAMAGE  AS  A  RESULT  OF TROPICAL STORM IRENE OF TWO THOUSAND
ELEVEN, TROPICAL STORM LEE OF TWO THOUSAND ELEVEN OR BOTH SUCH  TROPICAL
STORMS  SHALL  BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
CLE, TO BE COMPUTED AS PROVIDED IN PARAGRAPH TWO OF THIS SUBSECTION.
  (2) AMOUNT OF CREDIT. THE AMOUNT OF CREDIT SHALL  BE  EQUAL  TO  STATE
SALES  TAX  PAID  FOR EXPENSES RELATED TO DAMAGE INCURRED AS A RESULT OF
FLOODING, HIGH WINDS, RAIN AND/OR  MUDSLIDES  CAUSED  BY  SUCH  TROPICAL
STORMS. SUCH EXPENSES SHALL INCLUDE, BUT NOT BE LIMITED TO, EXPENSES FOR
MOVING  AND  STORAGE,  AND  FOR THE REPLACEMENT OF SUMP PUMPS, FURNACES,
REFRIGERATORS,  WASHERS,  DRYERS,  DEHUMIDIFIERS,  BOILERS,   FURNITURE,
CONSTRUCTION MATERIALS, VEHICLES AND CLOTHING.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13461-03-1

S. 5893--A                          2                         A. 8643--A

  (3)  ELIGIBILITY.  TO  BE  ELIGIBLE TO RECEIVE SUCH CREDIT, A TAXPAYER
SHALL RESIDE OR HAVE A BUSINESS WITHIN A COUNTY IN THIS STATE WHICH  WAS
DECLARED  A FEDERAL DISASTER AREA AND IS ELIGIBLE TO RECEIVE FEDERAL AID
OR ASSISTANCE AS A RESULT OF SUCH TROPICAL STORMS FROM THE FEDERAL EMER-
GENCY MANAGEMENT AGENCY.
  (4)  APPLICABILITY.  CREDIT  ALLOWED PURSUANT TO THIS SUBSECTION SHALL
APPLY TO PAYMENTS FOR SERVICES AND EXPENSES MADE DURING THE TWO THOUSAND
ELEVEN AND TWO THOUSAND TWELVE TAXABLE YEARS.
  S 2. Section 210 of the tax law is amended by adding a new subdivision
44 to read as follows:
  44. CREDIT FOR STATE SALES TAX PAID  BY  VICTIMS  OF  TROPICAL  STORMS
IRENE AND LEE. (A) GENERAL. A TAXPAYER WHOSE BUSINESS INCURRED DAMAGE AS
A  RESULT OF TROPICAL STORM IRENE OF TWO THOUSAND ELEVEN, TROPICAL STORM
LEE OF TWO THOUSAND ELEVEN OR BOTH SUCH TROPICAL STORMS SHALL BE ALLOWED
A CREDIT AGAINST THE TAX IMPOSED BY THIS  ARTICLE,  TO  BE  COMPUTED  AS
PROVIDED IN PARAGRAPH (B) OF THIS SUBDIVISION.
  (B)  AMOUNT  OF  CREDIT.  THE AMOUNT OF CREDIT SHALL BE EQUAL TO STATE
SALES TAX PAID FOR EXPENSES RELATED TO DAMAGE INCURRED AS  A  RESULT  OF
FLOODING,  HIGH  WINDS,  RAIN  AND/OR  MUDSLIDES CAUSED BY SUCH TROPICAL
STORMS. SUCH EXPENSES SHALL INCLUDE, BUT NOT BE LIMITED TO, EXPENSES FOR
MOVING AND STORAGE, AND FOR THE REPLACEMENT  OF  SUMP  PUMPS,  FURNACES,
REFRIGERATORS,   WASHERS,  DRYERS,  DEHUMIDIFIERS,  BOILERS,  FURNITURE,
CONSTRUCTION MATERIALS, VEHICLES AND CLOTHING.
  (C) ELIGIBILITY. TO BE ELIGIBLE TO RECEIVE  SUCH  CREDIT,  A  TAXPAYER
SHALL HAVE A BUSINESS WITHIN A COUNTY IN THIS STATE WHICH WAS DECLARED A
FEDERAL  DISASTER AREA AND IS ELIGIBLE TO RECEIVE FEDERAL AID OR ASSIST-
ANCE AS A RESULT OF SUCH TROPICAL  STORMS  FROM  THE  FEDERAL  EMERGENCY
MANAGEMENT AGENCY.
  (D)  APPLICABILITY.  CREDIT ALLOWED PURSUANT TO THIS SUBDIVISION SHALL
APPLY TO PAYMENTS FOR SERVICES AND EXPENSES MADE DURING THE TWO THOUSAND
ELEVEN AND TWO THOUSAND TWELVE TAXABLE YEARS.
  S 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
of  the  tax  law is amended by adding  a new clause (xxxiii) to read as
follows:
(XXXIII) CREDIT FOR STATE SALES TAX     AMOUNT OF CREDIT UNDER
PAID BY VICTIMS OF TROPICAL STORMS      SUBDIVISION FORTY-FOUR
IRENE AND LEE UNDER SUBSECTION (TT)     OF SECTION TWO HUNDRED
                                        TEN
  S 4.  The tax law is amended by adding a new section 1207 to  read  as
follows:
  S 1207. CREDIT FOR COUNTY SALES TAX PAID BY VICTIMS OF TROPICAL STORMS
IRENE  AND  LEE.  ANY  COUNTY IN THIS STATE WHICH WAS DECLARED A FEDERAL
DISASTER AREA AND IS ELIGIBLE TO RECEIVE FEDERAL AID OR ASSISTANCE AS  A
RESULT  OF  TROPICAL  STORM IRENE OF TWO THOUSAND ELEVEN, TROPICAL STORM
LEE OF TWO THOUSAND ELEVEN OR BOTH SUCH TROPICAL STORMS, OR  ANY  COUNTY
WHICH  BORDERS  SUCH  A COUNTY, MAY, AFTER PUBLIC HEARING, ADOPT A LOCAL
LAW, ORDINANCE OR RESOLUTION TO PROVIDE A CREDIT AGAINST  TAXES  IMPOSED
BY  ARTICLES  NINE-A AND TWENTY-TWO OF THIS CHAPTER FOR COUNTY SALES TAX
PAID BY VICTIMS OF SUCH TROPICAL STORMS. SUCH CREDIT SHALL BE ALLOWED TO
TAXPAYERS IN THE SAME MANNER AS THE CREDIT  FOR  STATE  SALES  TAX  PAID
ALLOWED  PURSUANT  TO  SUBDIVISION  (TT)  OF SECTION SIX HUNDRED SIX AND
SUBDIVISION FORTY-FOUR OF SECTION TWO HUNDRED TEN OF THIS CHAPTER.
  S 5. This act shall take effect immediately.

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Senate Bill S5893

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

Actions

Bill Amendments

2011-S5893 - Details

2011-S5893 - Summary

2011-S5893 - Sponsor Memo

2011-S5893 - Bill Text download pdf

2011-S5893A (ACTIVE) - Details

2011-S5893A (ACTIVE) - Summary

2011-S5893A (ACTIVE) - Bill Text download pdf

Comments

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Sponsored By

Hugh T. Farley

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

Actions

Bill Amendments

2011-S5893 - Details

2011-S5893 - Summary

2011-S5893 - Sponsor Memo

2011-S5893 - Bill Text download pdf

2011-S5893A (ACTIVE) - Details

2011-S5893A (ACTIVE) - Summary

2011-S5893A (ACTIVE) - Bill Text download pdf

Comments