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Assembly Bill A669A

2015-2016 Legislative Session

Provides a tax credit to home owners who repair cock loft fire hazards in their homes

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2015-A669 - Details

See Senate Version of this Bill:
S3005
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3711
2011-2012: A436
2013-2014: A1336, S5944
2017-2018: A1878, S3065
2019-2020: A4406, S4398

2015-A669 - Summary

Provides a tax credit to homeowners who repair cock loft fire hazards in their homes.

2015-A669 - Bill Text download pdf 

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

                                   669

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced by M. of A. LENTOL -- read once and referred to the Committee
  on Ways and Means

AN ACT to amend the tax law, in relation to providing a tax credit for a
  portion of the cost of repairing certain fire hazards

  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 (ccc) to read as follows:
  (CCC)  CREDIT  FOR  REPAIRING  CERTAIN  FIRE HAZARDS. (1) ANY RESIDENT
OWNER OF  REAL PROPERTY AS DEFINED IN SECTION ONE  HUNDRED  TWO  OF  THE
REAL  PROPERTY  TAX LAW SHALL BE ALLOWED A CREDIT AGAINST THE TAX OTHER-
WISE IMPOSED UNDER THIS ARTICLE IN AN AMOUNT EQUAL TO THIRTY PERCENT  OF
THE  COST  OF  REPAIRING  FIRE  HAZARDS  COMMONLY  KNOWN  AS COCK LOFTS,
PROVIDED THAT SUCH CREDIT SHALL NOT EXCEED FIVE HUNDRED  DOLLARS.    FOR
PURPOSES  OF  THIS  SECTION THE TERM "COCK LOFT" SHALL MEAN A COMPLETELY
ENCLOSED SPACE BETWEEN RAFTERS AND A SUSPENDED CEILING.
  (2) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR  ANY
TAXABLE  YEAR  SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS
SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN
ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  S 2. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2015.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01820-01-5

2015-A669A (ACTIVE) - Details

See Senate Version of this Bill:
S3005
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3711
2011-2012: A436
2013-2014: A1336, S5944
2017-2018: A1878, S3065
2019-2020: A4406, S4398

2015-A669A (ACTIVE) - Summary

Provides a tax credit to homeowners who repair cock loft fire hazards in their homes.

2015-A669A (ACTIVE) - Bill Text download pdf 

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

                                 669--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced by M. of A. LENTOL -- read once and referred to the Committee
  on Ways and Means -- recommitted to the Committee on Ways and Means in
  accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN ACT to amend the tax law, in relation to providing a tax credit for a
  portion of the cost of repairing certain fire hazards

  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 (ccc) to read as follows:
  (CCC)  CREDIT  FOR  REPAIRING  CERTAIN  FIRE HAZARDS. (1) ANY RESIDENT
OWNER OF  REAL PROPERTY AS DEFINED IN SECTION ONE  HUNDRED  TWO  OF  THE
REAL  PROPERTY  TAX LAW SHALL BE ALLOWED A CREDIT AGAINST THE TAX OTHER-
WISE IMPOSED UNDER THIS ARTICLE IN AN AMOUNT EQUAL TO THIRTY PERCENT  OF
THE  COST  OF  REPAIRING  FIRE  HAZARDS  COMMONLY  KNOWN  AS COCK LOFTS,
PROVIDED THAT SUCH CREDIT SHALL NOT EXCEED FIVE HUNDRED  DOLLARS.    FOR
PURPOSES  OF  THIS  SECTION THE TERM "COCK LOFT" SHALL MEAN A COMPLETELY
ENCLOSED SPACE BETWEEN RAFTERS AND A SUSPENDED CEILING.
  (2) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR  ANY
TAXABLE  YEAR  SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS
SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN
ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  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.
                                                           LBD01820-03-6

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