The New York State Senate

                    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

A. 7537                             2

  4.  IF  THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION SHALL
EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS MAY BE CARRIED  OVER
TO  THE  FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S
TAX FOR SUCH YEAR OR YEARS.
  5. ELIGIBLE TAXPAYERS SHALL APPLY FOR THE CREDIT BY MAKING APPLICATION
TO  THE DIVISION OF HOUSING AND COMMUNITY RENEWAL. THE DIVISION OF HOUS-
ING AND COMMUNITY RENEWAL SHALL ISSUE A CERTIFICATION  FOR  AN  APPROVED
APPLICATION TO THE TAXPAYER. THE TAXPAYER SHALL SUBMIT THE CERTIFICATION
TOGETHER WITH THEIR PERSONAL INCOME TAX RETURN.
  S 2. This act shall take effect immediately.

                    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

A. 7537--A                          2

  4.  IF  THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION SHALL
EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS MAY BE CARRIED  OVER
TO  THE  FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S
TAX FOR SUCH YEAR OR YEARS.
  5. ELIGIBLE TAXPAYERS SHALL APPLY FOR THE CREDIT BY MAKING APPLICATION
TO  THE  DIVISION  OF  CODE  ENFORCEMENT  AND  ADMINISTRATION WITHIN THE
DEPARTMENT OF STATE. THE DIVISION OF CODE ENFORCEMENT AND ADMINISTRATION
WITHIN THE DEPARTMENT OF  STATE  SHALL  ISSUE  A  CERTIFICATION  FOR  AN
APPROVED  APPLICATION  TO  THE  TAXPAYER.  THE TAXPAYER SHALL SUBMIT THE
CERTIFICATION TOGETHER WITH THEIR PERSONAL INCOME RETURN.
  S 2. This act shall take effect immediately.