assembly Bill A9623

2017-2018 Legislative Session

Relates to establishing a tax credit for sewer lateral pipe replacement or repair

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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
Jan 26, 2018 referred to ways and means

A9623 (ACTIVE) - Details

See Senate Version of this Bill:
S7180
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2019-2020 Legislative Session:
A2537, S5219

A9623 (ACTIVE) - Summary

Establishes a tax credit for the replacement or repair of sewer lateral pipes by homeowners who use the home as their principal residence and have an income of less than two hundred fifty thousand dollars.

A9623 (ACTIVE) - Bill Text download pdf


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

                                  9623

                          I N  A S S E M B L Y

                            January 26, 2018
                               ___________

Introduced  by M. of A. WALLACE -- read once and referred to the Commit-
  tee on Ways and Means

AN ACT to amend the tax law, in  relation  to  establishing  a  sanitary
  sewer lateral pipe replacement or repair 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 (ccc) to read as follows:
  (CCC)  SANITARY SEWER LATERAL PIPE REPLACEMENT CREDIT. (1) GENERAL. AN
INDIVIDUAL TAXPAYER SHALL BE ALLOWED A CREDIT FOR TAXABLE  YEARS  BEGIN-
NING  ON  OR  AFTER JANUARY FIRST, TWO THOUSAND EIGHTEEN AGAINST THE TAX
IMPOSED BY THIS ARTICLE FOR THE COSTS TO REPAIR  OR  REPLACE  A  LATERAL
SANITARY SEWER PIPE, WHEN SUCH REPAIR OR REPLACEMENT IS RECOMMENDED BY A
CERTIFIED PLUMBER OR THE PRESIDING MUNICIPALITY. THE AMOUNT OF THE CRED-
IT SHALL BE TWENTY-FIVE PERCENT OF THE TOTAL COST OF REPAIR OR REMOVAL.
  (2)  LATERAL  REPAIR  AND  REPLACEMENT  COSTS.  (A) THE TERM "COSTS OF
REPLACEMENT" INCLUDES THE COST OF AN  ASSESSMENT  FROM  A  PLUMBER,  ANY
INITIAL APPRAISALS, LABOR COSTS, DISPOSAL FEES, AND CLEANUP FEES; EXCEPT
ANY  STATE  OR LOCAL SALES TAX APPLICABLE TO THE SERVICES PERFORMED. (B)
THE TERM "COSTS OF REPAIR" INCLUDES THE COST OF  AN  ASSESSMENT  FROM  A
PLUMBER,  ANY  INITIAL  APPRAISALS,  LABOR  COSTS,  DISPOSAL  FEES,  AND
FOLLOW-UP FEES; EXCEPT ANY STATE OR LOCAL SALES TAX  APPLICABLE  TO  THE
SERVICES.
  (3)  AMOUNT  OF  CREDIT.  THE  AGGREGATE AMOUNT OF TAX CREDITS ALLOWED
UNDER THIS SUBSECTION IN ANY  CALENDAR  YEAR  STATEWIDE  SHALL  BE  FIVE
MILLION DOLLARS.
  (4)  LATERAL REPAIR OR REPLACEMENT FOR QUALIFIED TAXPAYERS. A PROPERTY
OWNER WHO INCURS COSTS FOR REPAIRING OR REPLACING  LATERAL  SEWER  PIPES
MUST BE REPLACING OR REPAIRING THE LATERAL PIPE LOCATED ON A RESIDENTIAL
PROPERTY OR MIXED-USE PROPERTY, WHICH IS:
  (A) LOCATED IN THIS STATE;
  (B) OWNED BY THE TAXPAYER;
  (C) USED BY THE TAXPAYER AS THEIR PRINCIPAL RESIDENCE; AND

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

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