Assembly Bill A1762

2013-2014 Legislative Session

Provides for a tax credit for providing shelter to a homeless person 62 years of age or older

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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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2013-A1762 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A1712
2011-2012: A3761
2015-2016: A4844
2017-2018: A6271
2019-2020: A5710

2013-A1762 (ACTIVE) - Summary

Provides for a tax credit against personal income tax of $1000 for each homeless person, aged 62 years or older, that the taxpayer provides shelter to the taxpayer's home; the taxpayer must also provide room and board for not less than one year to receive the credit.

2013-A1762 (ACTIVE) - Bill Text download pdf

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

                                  1762

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  M. of A. ENGLEBRIGHT, TITONE, CAHILL, RIVERA, BENEDETTO,
  MARKEY -- Multi-Sponsored by -- M. of A. AUBRY, BOYLAND, COOK,  HEAST-
  IE, MAISEL, PEOPLES-STOKES, 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 THIRTEEN, A TAXPAYER SHALL BE ALLOWED A
CREDIT, TO BE CREDITED AGAINST THE TAX IMPOSED BY  THIS  ARTICLE,  AFTER
ALLOWANCE  OF ANY OTHER CREDIT PROVIDED UNDER THIS SECTION AND ANY CRED-
ITS 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.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05726-01-3
              

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