Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 23, 2016 |
referred to investigations and government operations |
Senate Bill S7901
2015-2016 Legislative Session
Sponsored By
(R, C, IP) 62nd Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2015-S7901 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10089
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
- Versions Introduced in 2017-2018 Legislative Session:
-
S715, A1838
2015-S7901 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7901 TITLE OF BILL : An act to amend the tax law, in relation to creating a tax credit for households or businesses that install a water purification or filtration system PURPOSE OR GENERAL IDEA OF BILL : To alleviate the financial burden on those who choose to have professionally installed water purification or filtration systems in order to access potable water in their homes or businesses. SUMMARY OF SPECIFIC PROVISIONS : The executive law is amended by adding a new subsection eee to read as follows: Water filtration or purification tax credit. A taxpayer who purchases and installs a water purification or filtration system in their residence and/or business, if such residence or business is located within this state, shall be allowed a tax credit against the tax otherwise imposed under this article in an amount equal to five hundred dollars. JUSTIFICATION :
2015-S7901 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7901 I N S E N A T E May 23, 2016 ___________ Introduced by Sen. ORTT -- 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 creating a tax credit for households or businesses that install a water purification or filtra- tion system 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 (fff) to read as follows: (FFF) WATER FILTRATION OR PURIFICATION TAX CREDIT. (1) A TAXPAYER WHO PURCHASES AND INSTALLS A WATER PURIFICATION OR FILTRATION SYSTEM IN THEIR RESIDENCE AND/OR BUSINESS, IF SUCH RESIDENCE OR BUSINESS IS LOCATED WITHIN THIS STATE, SHALL BE ALLOWED A CREDIT AGAINST THE TAX OTHERWISE IMPOSED UNDER THIS ARTICLE IN AN AMOUNT EQUAL TO FIVE HUNDRED DOLLARS. (2) A TAXPAYER MAY CLAIM ONE CREDIT PURSUANT TO PARAGRAPH ONE OF THIS SUBSECTION FOR EACH RESIDENCE OR BUSINESS FOR WHICH THE TAXPAYER PURCHASES AND INSTALLS A NEW WATER PURIFICATION OR FILTRATION SYSTEM. (3) FOR PURPOSES OF THIS SUBSECTION A "WATER PURIFICATION OR FILTRA- TION SYSTEM" SHALL MEAN A SYSTEM THAT REMOVES IMPURITIES FROM WATER BY MEANS OF A FINE PHYSICAL BARRIER, A CHEMICAL PROCESS OR A BIOLOGICAL PROCESS THAT WAS INSTALLED BY A PROFESSIONAL. S 2. This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2016. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14947-02-6
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