senate Bill S6173

2013-2014 Legislative Session

Protects homeowners by insurance companies against property damage from oil spills and provides tax credits for those who replace underground tanks with above ground

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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

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to investigations and government operations

S6173 - Details

See Assembly Version of this Bill:
A8576
Law Section:
Tax Law
Laws Affected:
Amd §§615 & 606, Tax L; amd §190, Nav L

S6173 - Summary

Protects homeowners by requiring insurance companies insure against property damage from oil spills from underground oil tanks and provides tax credits for those who replace underground tanks with above ground.

S6173 - Sponsor Memo

S6173 - Bill Text download pdf

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

                                  6173

                            I N  S E N A T E

                               (PREFILED)

                             January 8, 2014
                               ___________

Introduced  by  Sen. TKACZYK -- 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  modifications  increasing
  federalized  itemized deductions for removing underground home heating
  oil storage tanks; and to amend the navigation  law,  in  relation  to
  claims  against  insurers  for oil spills from underground heating oil
  tanks and to amend the tax law, in relation to establishing a residen-
  tial fund oil storage tank credit and  providing  for  the  repeal  of
  certain provisions upon expiration thereof

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subsection (d) of section 615 of the tax law is amended  by
adding a new paragraph 5 to read as follows:
  (5) AN AMOUNT, NOT TO EXCEED FIFTY PERCENT OF THE AMOUNT EXPENDED BY A
TAXPAYER  WHO  IS  THE  OWNER  OF  A  ONE,  TWO OR THREE FAMILY HOME WHO
PROMOTES ENVIRONMENTAL QUALITY THROUGH THE  REMOVAL  OF  AN  UNDERGROUND
HOME  HEATING  OIL STORAGE TANK AND THE REPLACEMENT OF SUCH TANK WITH AN
ABOVE GROUND HOME HEATING OIL STORAGE TANK OR  ANOTHER  SOURCE  OF  HOME
HEATING.  THIS  DEDUCTION  IS LIMITED TO ONE THOUSAND DOLLARS IN ANY ONE
YEAR.
  S 2. Section 190 of the navigation law, as added by chapter 845 of the
laws of 1977, is amended to read as follows:
  S 190. Claims against insurers. (A) Any claims for  costs  of  cleanup
and  removal,  civil penalties or damages by the state and any claim for
damages by any injured person, may be brought directly against the bond,
the insurer, or any other person providing evidence of financial respon-
sibility.
  (B) ALL HOMEOWNERS' POLICIES OF INSURANCE IN THIS  STATE  WHICH  SHALL
INSURE AGAINST DAMAGE TO PROPERTY SHALL CLEARLY PROVIDE THAT THE ATTEND-
ANT  COSTS  OF  REMEDIATING  THE CONSEQUENCES OF AN OIL SPILL OR LEAKAGE
FROM THE INSURED'S UNDERGROUND HEATING OIL TANK SHALL CONSTITUTE PROPER-
TY DAMAGE AND SHALL BE INSURABLE  WITHIN  THE  MEANING  OF  THE  GENERAL

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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