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Assembly Bill A7537B

2013-2014 Legislative Session

Relates to a tax credit for visitability

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2013-A7537 - Details

See Senate Version of this Bill:
S3956
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: A1276, A9303, S2967, S6943
2017-2018: A5950, A10668, S2411
2019-2020: A2493
2021-2022: A3409

2013-A7537 - Summary

Relates to a credit for purchase, construction or retrofitting of a principal residence to achieve universal visitability pursuant to standards adopted by the division of housing and community renewal.

2013-A7537 - Bill Text download pdf 

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

                                  7537

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              May 23, 2013
                               ___________

Introduced by M. of A. LAVINE -- read once and referred to the Committee
  on Ways and Means

AN  ACT  to amend the tax law, in relation to providing a tax credit for
  universal visitability

  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 (ww) to read as follows:
  (WW) UNIVERSAL VISITABILITY TAX CREDIT. 1. FOR TAXABLE YEARS BEGINNING
ON OR AFTER APRIL FIRST, TWO  THOUSAND  FOURTEEN,  A  RESIDENT  TAXPAYER
SHALL  BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR A
PORTION OF THE TOTAL PURCHASE PRICE PAID BY SUCH RESIDENT TAXPAYER FOR A
NEW PRINCIPAL RESIDENCE ATTRIBUTABLE TO UNIVERSAL  VISITABILITY  OR  THE
TOTAL  AMOUNT  EXPENDED  BY  A RESIDENT TAXPAYER TO RETROFIT AN EXISTING
PRINCIPAL RESIDENCE TO ACHIEVE UNIVERSAL VISITABILITY PROVIDED THAT  THE
NEW  PRINCIPAL  RESIDENCE  OR THE RETROFITTING OF THE EXISTING PRINCIPAL
RESIDENCE IS LOCATED WITHIN THIS STATE AND DESIGNED TO PROVIDE UNIVERSAL
VISITABILITY AS DEFINED THROUGH THE ELIGIBILITY REQUIREMENTS ESTABLISHED
BY GUIDELINES  DEVELOPED  BY  THE  DIVISION  OF  HOUSING  AND  COMMUNITY
RENEWAL.
  2. THE CREDIT SHALL BE ALLOWED FOR THE TAXABLE YEAR IN WHICH THE RESI-
DENCE  HAS  BEEN  PURCHASED OR CONSTRUCTED, OR THE RETROFITTING OR RENO-
VATION OF THE RESIDENCE OR RESIDENTIAL  UNIT  HAS  BEEN  COMPLETED.  THE
CREDIT  ALLOWED  UNDER  THIS  SECTION  SHALL NOT EXCEED (I) TWENTY-SEVEN
HUNDRED FIFTY DOLLARS FOR THE PURCHASE OF A NEW RESIDENCE, OR (II) FIFTY
PERCENT OF THE TOTAL AMOUNT EXPENDED, BUT  NOT  TO  EXCEED  TWENTY-SEVEN
HUNDRED  FIFTY DOLLARS FOR THE RETROFITTING OR RENOVATION OF EACH EXIST-
ING RESIDENCE OR UNIT.
  3. NO CREDIT SHALL BE ALLOWED UNDER THIS  SECTION  FOR  THE  PURCHASE,
RETROFITTING OR RENOVATION OF RESIDENTIAL RENTAL PROPERTY.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09442-03-3

2013-A7537A - Details

See Senate Version of this Bill:
S3956
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: A1276, A9303, S2967, S6943
2017-2018: A5950, A10668, S2411
2019-2020: A2493
2021-2022: A3409

2013-A7537A - Summary

Relates to a credit for purchase, construction or retrofitting of a principal residence to achieve universal visitability pursuant to standards adopted by the division of housing and community renewal.

2013-A7537A - Bill Text download pdf 

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

                                 7537--A

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              May 23, 2013
                               ___________

Introduced by M. of A. LAVINE -- 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 providing a tax  credit  for
  universal visitability

  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 (ww) to read as follows:
  (WW) UNIVERSAL VISITABILITY TAX CREDIT. 1. FOR TAXABLE YEARS BEGINNING
ON  OR  AFTER  APRIL  FIRST,  TWO THOUSAND FOURTEEN, A RESIDENT TAXPAYER
SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR  A
PORTION OF THE TOTAL PURCHASE PRICE PAID BY SUCH RESIDENT TAXPAYER FOR A
NEW  PRINCIPAL  RESIDENCE  ATTRIBUTABLE TO UNIVERSAL VISITABILITY OR THE
TOTAL AMOUNT EXPENDED BY A RESIDENT TAXPAYER  TO  RETROFIT  AN  EXISTING
PRINCIPAL  RESIDENCE TO ACHIEVE UNIVERSAL VISITABILITY PROVIDED THAT THE
NEW PRINCIPAL RESIDENCE OR THE RETROFITTING OF  THE  EXISTING  PRINCIPAL
RESIDENCE IS LOCATED WITHIN THIS STATE AND DESIGNED TO PROVIDE UNIVERSAL
VISITABILITY AS DEFINED THROUGH THE ELIGIBILITY REQUIREMENTS ESTABLISHED
BY GUIDELINES DEVELOPED BY THE DIVISION OF CODE ENFORCEMENT AND ADMINIS-
TRATION WITHIN THE DEPARTMENT OF STATE.
  2. THE CREDIT SHALL BE ALLOWED FOR THE TAXABLE YEAR IN WHICH THE RESI-
DENCE  HAS  BEEN  PURCHASED OR CONSTRUCTED, OR THE RETROFITTING OR RENO-
VATION OF THE RESIDENCE OR RESIDENTIAL  UNIT  HAS  BEEN  COMPLETED.  THE
CREDIT  ALLOWED  UNDER  THIS  SECTION  SHALL NOT EXCEED (I) TWENTY-SEVEN
HUNDRED FIFTY DOLLARS FOR THE PURCHASE OF A NEW RESIDENCE, OR (II) FIFTY
PERCENT OF THE TOTAL AMOUNT EXPENDED, BUT  NOT  TO  EXCEED  TWENTY-SEVEN
HUNDRED  FIFTY DOLLARS FOR THE RETROFITTING OR RENOVATION OF EACH EXIST-
ING RESIDENCE OR UNIT.
  3. NO CREDIT SHALL BE ALLOWED UNDER THIS  SECTION  FOR  THE  PURCHASE,
RETROFITTING OR RENOVATION OF RESIDENTIAL RENTAL PROPERTY.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09442-05-3

co-Sponsors

multi-Sponsors

2013-A7537B (ACTIVE) - Details

See Senate Version of this Bill:
S3956
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: A1276, A9303, S2967, S6943
2017-2018: A5950, A10668, S2411
2019-2020: A2493
2021-2022: A3409

2013-A7537B (ACTIVE) - Summary

Relates to a credit for purchase, construction or retrofitting of a principal residence to achieve universal visitability pursuant to standards adopted by the division of housing and community renewal.

2013-A7537B (ACTIVE) - Bill Text download pdf 

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

                                 7537--B

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              May 23, 2013
                               ___________

Introduced by M. of A. LAVINE -- read once and referred to the Committee
  on  Ways  and  Means  --  committee  discharged, bill amended, ordered
  reprinted as amended  and  recommitted  to  said  committee  --  again
  reported  from  said  committee  with amendments, ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend the tax law, in relation to providing a tax  credit  for
  universal visitability

  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 (xx) to read as follows:
  (XX) UNIVERSAL VISITABILITY TAX CREDIT. 1. FOR TAXABLE YEARS BEGINNING
ON OR AFTER APRIL FIRST, TWO THOUSAND FIFTEEN, A RESIDENT TAXPAYER SHALL
BE  ALLOWED  A  CREDIT  AGAINST  THE  TAX  IMPOSED BY THIS ARTICLE FOR A
PORTION OF THE TOTAL PURCHASE PRICE PAID BY SUCH RESIDENT TAXPAYER FOR A
NEW PRINCIPAL RESIDENCE ATTRIBUTABLE TO UNIVERSAL  VISITABILITY  OR  THE
TOTAL  AMOUNT  EXPENDED  BY  A RESIDENT TAXPAYER TO RETROFIT AN EXISTING
PRINCIPAL RESIDENCE TO ACHIEVE UNIVERSAL VISITABILITY PROVIDED THAT  THE
NEW  PRINCIPAL  RESIDENCE  OR THE RETROFITTING OF THE EXISTING PRINCIPAL
RESIDENCE IS LOCATED WITHIN THIS STATE AND DESIGNED TO PROVIDE UNIVERSAL
VISITABILITY AS DEFINED THROUGH THE ELIGIBILITY REQUIREMENTS ESTABLISHED
BY GUIDELINES DEVELOPED BY THE DIVISION OF CODE ENFORCEMENT AND ADMINIS-
TRATION WITHIN THE DEPARTMENT OF STATE.
  2. THE CREDIT SHALL BE ALLOWED FOR THE TAXABLE YEAR IN WHICH THE RESI-
DENCE HAS BEEN PURCHASED OR CONSTRUCTED, OR THE  RETROFITTING  OR  RENO-
VATION  OF  THE  RESIDENCE  OR  RESIDENTIAL UNIT HAS BEEN COMPLETED. THE
CREDIT ALLOWED UNDER THIS SECTION  SHALL  NOT  EXCEED  (I)  TWENTY-SEVEN
HUNDRED FIFTY DOLLARS FOR THE PURCHASE OF A NEW RESIDENCE, OR (II) FIFTY
PERCENT  OF  THE  TOTAL  AMOUNT EXPENDED, BUT NOT TO EXCEED TWENTY-SEVEN
HUNDRED FIFTY DOLLARS FOR THE RETROFITTING OR RENOVATION OF EACH  EXIST-
ING RESIDENCE OR UNIT.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09442-07-3

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