assembly Bill A9890

2015-2016 Legislative Session

Relates to credits against tax for homeowners and businesses who invest in green infrastructure

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Archive: Last Bill Status - In Assembly Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 22, 2016 referred to ways and means

A9890 (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Amd ยงยง606 & 210-B, Tax L
Versions Introduced in 2017-2018 Legislative Session:
A1898

A9890 (ACTIVE) - Summary

Relates to credits against tax for homeowners and businesses who invest in green infrastructure.

A9890 (ACTIVE) - Bill Text download pdf

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

                                  9890

                          I N  A S S E M B L Y

                             April 22, 2016
                               ___________

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

AN  ACT  to  amend  the  tax law, in relation to credits against tax for
  homeowners and businesses who invest in green infrastructure

  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 HOMEOWNERS AND BUSINESSES TO INVEST IN GREEN  INFRAS-
TRUCTURE.  (1)  HOMEOWNERS WHO CONSTRUCT GREEN INFRASTRUCTURE AS PART OF
THEIR REAL PROPERTY, DURING THE  TAXABLE  YEAR,  SHALL  BE  ELIGIBLE  TO
RECEIVE   A  TAX  CREDIT  FOR  UP  TO  FIFTY  PERCENT  OF  THE  COST  OF
CONSTRUCTION, NOT EXCEEDING FIVE THOUSAND DOLLARS.
  (2) BUSINESSES WHO CONSTRUCT GREEN INFRASTRUCTURE  AS  PART  OF  THEIR
REAL  PROPERTY,  DURING THE TAXABLE YEAR, SHALL BE ELIGIBLE TO RECEIVE A
TAX CREDIT FOR UP TO FIFTY PERCENT OF  THE  COST  OF  CONSTRUCTION,  NOT
EXCEEDING FIVE THOUSAND DOLLARS.
  (3)  FOR  PURPOSES OF THIS SUBSECTION, THE FOLLOWING DEFINITIONS SHALL
APPLY:
  (A) "HOMEOWNER" IS DEFINED AS A NEW YORK RESIDENT FOR THE  PAST  TWEN-
TY-FOUR MONTHS AND WHO OWNS A SINGLE FAMILY OR MULTI-FAMILY DWELLING FOR
RESIDENTIAL PURPOSES WITHIN NEW YORK STATE.
  (B)  "BUSINESS" SHALL MEAN ANY BUSINESS WHOSE PRINCIPAL PLACE OF BUSI-
NESS IS LOCATED IN NEW YORK STATE, AND HAS BEEN LOCATED IN THE STATE FOR
THE PREVIOUS THIRTY-SIX MONTHS.
  (C) "GREEN INFRASTRUCTURE" SHALL MEAN  ANY  COST-EFFECTIVE,  RESILIENT
APPROACH  TO  MANAGING  WET WEATHER IMPACTS THAT PROVIDES MANY COMMUNITY
BENEFITS. FOR EXAMPLE, WHILE SINGLE-PURPOSE GRAY STORMWATER  INFRASTRUC-
TURE,  CONVENTIONAL  PIPED  DRAINAGE  AND  WATER  TREATMENT  SYSTEMS ARE
DESIGNED TO MOVE URBAN STORMWATER AWAY FROM THE BUILT ENVIRONMENT, GREEN
INFRASTRUCTURE REDUCES AND TREATS STORMWATER AT ITS SOURCE WHILE  DELIV-
ERING ENVIRONMENTAL, SOCIAL AND ECONOMIC BENEFITS.  GREEN INFRASTRUCTURE
SHALL  INCLUDE  BUT NOT BE LIMITED TO DOWNSPOUT DISCONNECTION, RAINWATER

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14979-02-6