Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 29, 2020 |
referred to ways and means |
Assembly Bill A10361
2019-2020 Legislative Session
Sponsored By
MOSLEY
Archive: Last Bill Status - In Assembly 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
co-Sponsors
Al Taylor
Rebecca Seawright
Carmen De La Rosa
Daniel O'Donnell
2019-A10361 (ACTIVE) - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2019-A10361 (ACTIVE) - Summary
Provides a COVID-19 relief tax credit to certain renters and residential rental property owners in an amount equal to one thousand five hundred dollars for the two thousand twenty taxable year and seven hundred fifty dollars for the two thousand twenty-one taxable year.
2019-A10361 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10361 I N A S S E M B L Y April 29, 2020 ___________ Introduced by M. of A. MOSLEY -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to providing a COVID-19 relief tax credit to certain renters and residential rental property owners; and providing for the repeal of such provisions upon expiration there- of 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 (kkk) to read as follows: (KKK) COVID-19 HOUSING RELIEF CREDIT. (1) A QUALIFIED TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE IN AN AMOUNT EQUAL TO ONE THOUSAND FIVE HUNDRED DOLLARS FOR THE TWO THOUSAND TWENTY TAXABLE YEAR AND SEVEN HUNDRED FIFTY DOLLARS FOR THE TWO THOUSAND TWEN- TY-ONE TAXABLE YEAR. (2) FOR THE PURPOSE OF THIS SUBSECTION: (A) "QUALIFIED TAXPAYER" SHALL MEAN: (I) A TAXPAYER WHO IS A TENANT WITH AN ANNUAL INCOME BETWEEN TWENTY- FIVE AND SEVENTY-FIVE THOUSAND DOLLARS WHOSE PRIMARY RESIDENCE IS A RESIDENTIAL RENTAL UNIT WITH AN AVERAGE MONTHLY RENT OF TWO THOUSAND FIVE HUNDRED DOLLARS OR LESS, NOT INCLUDING THE COST OF UTILITIES; (II) A TAXPAYER WITH AN ANNUAL INCOME BETWEEN TWENTY-FIVE AND SEVEN- TY-FIVE THOUSAND DOLLARS WHOSE PRIMARY RESIDENCE IS A RESIDENTIAL DWELL- ING UNIT IN PROPERTY HELD IN COOPERATIVE OR CONDOMINIUM FORMS OF OWNER- SHIP WITH AN AVERAGE MONTHLY MORTGAGE PAYMENT OF TWO THOUSAND FIVE HUNDRED DOLLARS OR LESS; AND (III) A TAXPAYER: (I) WITH AN ANNUAL INCOME OF ONE HUNDRED FIFTY THOUSAND DOLLARS OR LESS; (II) WHO IS THE OWNER OF RESIDENTIAL RENTAL REAL PROPERTY THAT SUCH TAXPAYER IS RESPONSIBLE FOR, AND HAS PAID, ALL REAL PROPERTY TAXES LEVIED ON SUCH RESIDENTIAL RENTAL REAL PROPERTY; AND EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD16246-01-0
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.