senate Bill S7417

2013-2014 Legislative Session

Establishes the renters' and small homeowners' credit in a city with a population of a million or more

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
May 14, 2014 referred to investigations and government operations

S7417 - Details

See Assembly Version of this Bill:
A9052
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L

S7417 - Summary

Establishes the renters' and small homeowners' credit in a city with a population of a million or more.

S7417 - Sponsor Memo

S7417 - Bill Text download pdf

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

                                  7417

                            I N  S E N A T E

                              May 14, 2014
                               ___________

Introduced  by  Sen. SANDERS -- 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 renters'  and
  small homeowners' tax credit

  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 (b-1) to read as follows:
  (B-1)  RENTERS'  AND  SMALL  HOMEOWNERS' CREDIT IN A CITY WITH A POPU-
LATION OF ONE MILLION OR MORE.
  (1) FOR THE PURPOSES OF THIS SUBSECTION:
  (A) "QUALIFIED TAXPAYER" MEANS A RESIDENT INDIVIDUAL WHO  LIVES  IN  A
CITY  WITH A POPULATION OF ONE MILLION OR MORE WHO HAS OCCUPIED AND PAID
RENT FOR HIS OR HER PRIMARY RESIDENCE IN SUCH CITY  FOR  SIX  MONTHS  OR
MORE  OF THE TAXABLE YEAR, IS REQUIRED OR CHOOSES TO FILE A RETURN UNDER
THIS ARTICLE, AND (I) IS SIXTY-FIVE YEARS  OF  AGE  OR  OLDER,  (II)  IS
FILING  A  JOINT  RETURN WITH A SPOUSE WHO IS SIXTY-FIVE YEARS OF AGE OR
OLDER, (III) IS A HEAD OF HOUSEHOLD, (IV) IS A MARRIED INDIVIDUAL FILING
A JOINT RETURN WITH A SPOUSE AND HAS AT LEAST ONE DEPENDENT,  (V)  IS  A
MARRIED INDIVIDUAL FILING A SEPARATE RETURN AND HAS AT LEAST ONE DEPEND-
ENT,  OR (VI) IS A SURVIVING SPOUSE AND HAS AT LEAST ONE DEPENDENT.  FOR
PURPOSES OF THIS SUBSECTION "QUALIFIED TAXPAYER" SHALL ALSO INCLUDE  THE
OWNER OF ANY DWELLING WITH SIX UNITS OR LESS IN A CITY WITH A POPULATION
OF  ONE MILLION OR MORE WHO OCCUPIES SUCH DWELLING AS HIS OR HER PRIMARY
RESIDENCE FOR SIX MONTHS OR MORE OF THE TAXABLE YEAR AND WHO IS REQUIRED
OR CHOOSES TO FILE A RETURN UNDER THIS ARTICLE.  AN INDIVIDUAL CANNOT BE
A QUALIFIED TAXPAYER IF HE OR SHE IS AN INDIVIDUAL WITH RESPECT TO  WHOM
A  DEDUCTION UNDER SUBSECTION (C) OF SECTION 151 OF THE INTERNAL REVENUE
CODE IS ALLOWABLE TO ANOTHER TAXPAYER FOR THE TAXABLE YEAR OR PAYS  RENT
FOR  HIS  OR  HER  PRIMARY RESIDENCE TO A FAMILY MEMBER SHARING THE SAME
PRIMARY RESIDENCE.  A FAMILY MEMBER OF AN INDIVIDUAL IS THE INDIVIDUAL'S
SPOUSE, BROTHER, SISTER, PARENT, GRANDPARENT, CHILD, GRANDCHILD,  UNCLE,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13765-02-4

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.