senate Bill S511

2013-2014 Legislative Session

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

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


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

do you support this legislation?

You must fill out the form below in order to support or oppose this bill. X

You must login or fill out the fields below for the senator to have an accurate account of the support or opposition to this bill.

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.
Use this box to enter a message to your senator.

Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to investigations and government operations
Jan 09, 2013 referred to investigations and government operations

S511 - Details

See Assembly Version of this Bill:
A692
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S1286A, A1482
2009-2010: S7065, A10081

S511 - 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.

S511 - Sponsor Memo

S511 - Bill Text download pdf

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

                                   511

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced by Sen. ESPAILLAT -- 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 (vv) to read as follows:
  (VV) 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.
                                                           LBD01943-01-3

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.