Senate Bill S3174

2017-2018 Legislative Session

Provides for an increase in federal itemized deductions for home improvements which promote water quality

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Sponsored By

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

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Bill Amendments

co-Sponsors

2017-S3174 - Details

See Assembly Version of this Bill:
A2395
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §615, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: S234, A344
2011-2012: S814, A517
2013-2014: S4632, A6693
2015-2016: S2101, A3030

2017-S3174 - Summary

Provides for an increase in federal itemized deductions for certain home improvements; a fifty percent tax exemption is provided to a residential property owner of a one, two or three family home for improvements that will promote environmental quality; limits the deduction to $1,000 in any one tax year.

2017-S3174 - Sponsor Memo

2017-S3174 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
     S. 3174                                                  A. 2395
 
                        2017-2018 Regular Sessions
 
                       S E N A T E - A S S E M B L Y
 
                             January 20, 2017
                                ___________
 
 IN  SENATE -- Introduced by Sens. LAVALLE, DeFRANCISCO, GALLIVAN, LARKIN
   -- read twice and ordered printed, and when printed to be committed to
   the Committee on Investigations and Government Operations
 
 IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once  and  referred
   to the Committee on Ways and Means

 AN  ACT  to  amend  the tax law, in relation to modifications increasing
   federal itemized deductions for home improvements
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subsection (d) of section 615 of the tax law is amended by
 adding a new paragraph 5 to read as follows:
   (5) AN AMOUNT, NOT TO EXCEED FIFTY PERCENT OF THE AMOUNT EXPENDED BY A
 TAXPAYER WHO IS THE OWNER OF A ONE, TWO OR THREE FAMILY HOME FOR  MAKING
 AN  IMPROVEMENT  TO  SAID HOME WHICH WILL PROMOTE ENVIRONMENTAL QUALITY,
 INCLUDING THE REPLACEMENT OR UPGRADE OF AN  INDIVIDUAL  SEWAGE  DISPOSAL
 SYSTEM,  REPLACEMENT OR UPGRADE OF FUEL OIL TANKS, OR THE INSTALLMENT OF
 A STORM WATER COLLECTION AND RECHARGE SYSTEM. THIS DEDUCTION IS  LIMITED
 TO ONE THOUSAND DOLLARS IN ANY ONE TAX YEAR.
   § 2. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02124-01-7

co-Sponsors

2017-S3174A (ACTIVE) - Details

See Assembly Version of this Bill:
A2395
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §615, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: S234, A344
2011-2012: S814, A517
2013-2014: S4632, A6693
2015-2016: S2101, A3030

2017-S3174A (ACTIVE) - Summary

Provides for an increase in federal itemized deductions for certain home improvements; a fifty percent tax exemption is provided to a residential property owner of a one, two or three family home for improvements that will promote environmental quality; limits the deduction to $1,000 in any one tax year.

2017-S3174A (ACTIVE) - Sponsor Memo

2017-S3174A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
     S. 3174--A                                            A. 2395--A
 
                        2017-2018 Regular Sessions
 
                       S E N A T E - A S S E M B L Y
 
                             January 20, 2017
                                ___________
 
 IN  SENATE -- Introduced by Sens. LAVALLE, DeFRANCISCO, GALLIVAN, LARKIN
   -- read twice and ordered printed, and when printed to be committed to
   the Committee on Investigations and Government Operations -- recommit-
   ted to the Committee on Investigations and  Government  Operations  in
   accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee
 
 IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- 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 committee
 
 AN  ACT  to  amend  the tax law, in relation to modifications increasing
   federal itemized deductions for home improvements
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subsection (d) of section 615 of the tax law is amended by
 adding a new paragraph 6 to read as follows:
   (6) AN AMOUNT, NOT TO EXCEED FIFTY PERCENT OF THE AMOUNT EXPENDED BY A
 TAXPAYER WHO IS THE OWNER OF A ONE, TWO OR THREE FAMILY HOME FOR  MAKING
 AN  IMPROVEMENT  TO  SAID HOME WHICH WILL PROMOTE ENVIRONMENTAL QUALITY,
 INCLUDING THE REPLACEMENT OR UPGRADE OF AN  INDIVIDUAL  SEWAGE  DISPOSAL
 SYSTEM,  REPLACEMENT OR UPGRADE OF FUEL OIL TANKS, OR THE INSTALLMENT OF
 A STORM WATER COLLECTION AND RECHARGE SYSTEM. THIS DEDUCTION IS  LIMITED
 TO ONE THOUSAND DOLLARS IN ANY ONE TAX YEAR.
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02124-02-8

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