S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6271
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 1, 2017
                                ___________
 
 Introduced by M. of A. ENGLEBRIGHT, TITONE, CAHILL, RIVERA, BENEDETTO --
   Multi-Sponsored  by  -- M. of A. AUBRY, COOK, PEOPLES-STOKES, PERRY --
   read once and referred to the Committee on Ways and Means
 
 AN ACT to amend the tax law, in  relation  to  providing  for  a  credit
   against personal income tax for sheltering a homeless person sixty-two
   years of age or older
 
   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 (o-1) to read as follows:
   (O-1)  SHELTERING HOMELESS PERSON CREDIT. (1) FOR TAXABLE YEARS BEGIN-
 NING ON OR AFTER TWO THOUSAND SEVENTEEN, A TAXPAYER SHALL BE  ALLOWED  A
 CREDIT,  TO  BE  CREDITED AGAINST THE TAX IMPOSED BY THIS ARTICLE, AFTER
 ALLOWANCE OF ANY OTHER CREDIT PROVIDED UNDER THIS SECTION AND ANY  CRED-
 ITS  PERMITTED UNDER SECTIONS SIX HUNDRED TWENTY, SIX HUNDRED TWENTY-ONE
 AND SIX HUNDRED THIRTY-FIVE OF THIS ARTICLE. THE AMOUNT  OF  THE  CREDIT
 SHALL  BE  ONE THOUSAND DOLLARS FOR EACH HOMELESS PERSON SIXTY-TWO YEARS
 OF AGE OR OLDER WHOM THE TAXPAYER SHELTERS IN HIS OR HER HOME, PROVIDING
 ROOM AND BOARD, DURING THE TAXABLE YEAR,  PROVIDED  THAT  SUCH  HOMELESS
 PERSON  SHALL  HAVE BEEN SHELTERED BY THE TAXPAYER FOR NOT LESS THAN ONE
 YEAR.
   (2) IN NO EVENT SHALL THE AMOUNT OF THE CREDIT PROVIDED  FOR  IN  THIS
 SUBSECTION  BE  ALLOWED  IN  EXCESS OF THE TAXPAYER'S TAX FOR SUCH YEAR.
 HOWEVER,  IF  THE  AMOUNT  OF  CREDIT  OTHERWISE  ALLOWABLE  UNDER  THIS
 SUBSECTION  FOR  ANY  TAXABLE  YEAR  RESULTS  IN SUCH EXCESS AMOUNT, ANY
 AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER
 TO THE FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM  THE  TAXPAYER'S
 TAX FOR SUCH YEAR OR YEARS.
   (3)  FOR PURPOSES OF THIS SUBSECTION, "HOMELESS PERSON" SHALL HAVE THE
 MEANING PRESCRIBED IN SUBDIVISION TWO OF SECTION FORTY-TWO OF THE SOCIAL
 SERVICES LAW, PROVIDED THAT SUCH PERSON IS SIXTY-TWO  YEARS  OF  AGE  OR
 OLDER.
   § 2. This act shall take effect immediately.
 
              

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03645-01-7