Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to investigations and government operations |
Nov 03, 2017 |
referred to rules |
Senate Bill S6935
2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
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
Actions
2017-S6935 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2017-S6935 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6935 SPONSOR: JACOBS TITLE OF BILL: An act to amend the tax law, in relation to credits against tax for homeowners who invest in certain stormwater modifications, repairs and improvements PURPOSE: This bill would incentivize homeowners to upgrade their water drainage systems and reduce the likelihood that sewage systems are over-burdened during period of higher precipitation, spilling untreated sewage into New York's waterways. SUMMARY OF PROVISIONS: Section 1. Adds a new subsection to Section 606 of the tax law to include a credit for homeowners to invest in certain storm water modifi- cations, repairs and improvements.
2017-S6935 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6935 2017-2018 Regular Sessions I N S E N A T E November 3, 2017 ___________ Introduced by Sen. JACOBS -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the tax law, in relation to credits against tax for homeowners who invest in certain stormwater modifications, repairs and improvements 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 TO INVEST IN CERTAIN STORMWATER MODIFICA- TIONS, REPAIRS AND IMPROVEMENTS. (1) HOMEOWNERS WHO CONSTRUCT MODIFICA- TIONS, REPAIRS AND IMPROVEMENTS DURING THE TAXABLE YEAR TO THEIR REAL PROPERTY TO LIMIT THE AMOUNT OF STORMWATER RUNOFF SO AS TO NOT OVERBUR- DEN THE SINGLE SEWER SYSTEM IN CERTAIN AREAS THAT ARE UNDER A CONSENT ORDER FROM THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION SHALL BE ELIGI- BLE TO RECEIVE A TAX CREDIT FOR UP TO FIFTY PERCENT OF THE COST OF SUCH MODIFICATIONS, REPAIRS AND IMPROVEMENTS, NOT EXCEEDING THREE THOUSAND DOLLARS. (2) 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) "MODIFICATIONS AND REPAIRS" SHALL MEAN ANY MODIFICATIONS, REPAIRS AND IMPROVEMENTS TO ANY STORMWATER INFRASTRUCTURE, CONVENTIONAL PIPED DRAINAGE AND WATER TREATMENT SYSTEMS DESIGNED TO MOVE STORM WATER AWAY FROM THE HOMEOWNER'S RESIDENCE SO AS TO NOT OVERBURDEN A SINGLE SEWER SYSTEM IN CERTAIN AREAS. (3) THE PROVISIONS OF THIS SECTION SHALL NOT APPLY TO ANY HOMEOWNER WHO LIVES IN A CITY WITH A POPULATION OF ONE MILLION OR MORE. § 2. This act shall take effect immediately and shall apply to taxable years commencing on and after such date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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