senate Bill S6569

2013-2014 Legislative Session

Establishes an income tax credit for flood victims in the town of West Seneca, county of Erie

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Committee


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

do you support this bill?

Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 06, 2014 referred to investigations and government operations

S6569 - Details

See Assembly Version of this Bill:
A8789
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L

S6569 - Summary

Establishes an income tax credit for flood victims in the town of West Seneca, county of Erie in the amount of property taxes paid on property which sustained substantial damage as a result of flooding in the period from January 6, 2014 to and including January 13, 2014.

S6569 - Sponsor Memo

S6569 - Bill Text download pdf

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

                                  6569

                            I N  S E N A T E

                            February 6, 2014
                               ___________

Introduced  by Sen. GALLIVAN -- 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 an  income  tax
  credit  for  flood victims in the town of West Seneca in the amount of
  property taxes paid on property which sustained substantial damage  as
  a result of flooding in the period from January 6, 2014 to and includ-
  ing January 13, 2014

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

  Section 1. Subsections (yy) and (zz) of section 606 of the tax law, as
relettered by section 5 of part H of chapter 1 of the laws of 2003,  are
relettered subsections (yyy) and (zzz) and a new subsection (y) is added
to read as follows:
  (Y)  TAX  CREDIT  FOR  VICTIMS OF FLOODING IN THE TOWN OF WEST SENECA,
COUNTY OF ERIE DURING THE PERIOD FROM JANUARY SIXTH, TWO THOUSAND  FOUR-
TEEN TO AND INCLUDING JANUARY THIRTEENTH, TWO THOUSAND FOURTEEN.
  (1) ALLOWANCE OF CREDIT. A QUALIFIED TAXPAYER SHALL BE ALLOWED A CRED-
IT FOR TAXABLE YEARS TWO THOUSAND THIRTEEN AND TWO THOUSAND FOURTEEN, TO
BE  COMPUTED  AS  HEREINAFTER  PROVIDED, AGAINST THE TAX IMPOSED BY THIS
ARTICLE. FOR PURPOSES OF THIS PARAGRAPH, THE TERM  "QUALIFIED  TAXPAYER"
MEANS A BUSINESS OR RESIDENT TAXPAYER.
  (2)  AMOUNT  OF CREDIT. (A) THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO
THE AMOUNT OF SCHOOL TAXES PAID FOR THE TWO THOUSAND THIRTEEN--TWO THOU-
SAND FOURTEEN SCHOOL YEAR AND THE AMOUNT OF ANY TOWN  AND  COUNTY  TAXES
PAID  IN TAXABLE YEAR TWO THOUSAND FOURTEEN WITH RESPECT TO ANY PROPERTY
WHICH RECEIVED SUBSTANTIAL DAMAGE AS A RESULT OF SEVERE FLOODING  DURING
THE  PERIOD  OF  JANUARY  SIXTH,  TWO THOUSAND FOURTEEN TO JANUARY THIR-
TEENTH, TWO THOUSAND FOURTEEN,  INCLUSIVE.  (B)  FOR  PURPOSES  OF  THIS
SUBSECTION,  THE  TERM  "SUBSTANTIAL  DAMAGE" MEANS DAMAGE OF ANY ORIGIN
SUSTAINED BY A STRUCTURE WHEREBY THE COST OF RESTORING THE STRUCTURE  TO
ITS  BEFORE DAMAGED CONDITION WOULD EQUAL OR EXCEED FIFTY PERCENT OF THE
MARKET VALUE OF THE STRUCTURE BEFORE THE DAMAGE OCCURRED.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13860-01-4

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.