assembly Bill A2493

2019-2020 Legislative Session

Relates to a pilot program providing a tax credit for universal visitability

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Current Bill Status - Passed Senate & Assembly


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (10)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 30, 2019 returned to assembly
passed senate
3rd reading cal.997
substituted for s2424
May 29, 2019 referred to rules
delivered to senate
passed assembly
May 16, 2019 advanced to third reading cal.336
May 14, 2019 reported
Jan 23, 2019 referred to ways and means

Co-Sponsors

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A2493 (ACTIVE) - Details

See Senate Version of this Bill:
S2424
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7537
2015-2016: A1276, A9303
2017-2018: A5950, A10668

A2493 (ACTIVE) - Summary

Relates to a credit for purchase, construction or retrofitting of a principal residence to achieve universal visitability pursuant to guidelines developed by the division of code enforcement and administration within the department of state; caps tax credits awarded at 1 million dollars per year for 5 years.

A2493 (ACTIVE) - Bill Text download pdf


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

                                  2493

                       2019-2020 Regular Sessions

                          I N  A S S E M B L Y

                            January 23, 2019
                               ___________

Introduced  by  M. of A. LAVINE, LIFTON -- read once and referred to the
  Committee on Ways and Means

AN ACT to amend the tax law, in relation to providing a tax  credit  for
  universal   visitability;   and  providing  for  the  repeal  of  such
  provisions upon expiration thereof

  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 (jjj) to read as follows:
  (JJJ) UNIVERSAL VISITABILITY TAX CREDIT. (1) FOR TAXABLE YEARS  BEGIN-
NING  ON  OR  AFTER  JANUARY  FIRST, TWO THOUSAND TWENTY, UNTIL DECEMBER
THIRTY-FIRST, TWO THOUSAND TWENTY-FOUR, A TAXPAYER SHALL  BE  ALLOWED  A
CREDIT  AGAINST  THE  TAX  IMPOSED  BY THIS ARTICLE FOR A PORTION OF THE
TOTAL PURCHASE PRICE PAID BY SUCH TAXPAYER  FOR  A  PRINCIPAL  RESIDENCE
ATTRIBUTABLE TO UNIVERSAL VISITABILITY OR THE TOTAL AMOUNT EXPENDED BY A
TAXPAYER   TO  RETROFIT  AN  EXISTING  PRINCIPAL  RESIDENCE  TO  ACHIEVE
UNIVERSAL VISITABILITY PROVIDED THAT  THE  PRINCIPAL  RESIDENCE  OR  THE
RETROFITTING  OF THE EXISTING PRINCIPAL RESIDENCE IS LOCATED WITHIN THIS
STATE AND DESIGNED TO PROVIDE UNIVERSAL VISITABILITY AS DEFINED  THROUGH
THE  ELIGIBILITY REQUIREMENTS ESTABLISHED BY GUIDELINES DEVELOPED BY THE
DIVISION OF CODE ENFORCEMENT AND ADMINISTRATION WITHIN THE DEPARTMENT OF
STATE. FOR THE PURPOSE OF THIS  SUBSECTION,  PRINCIPAL  RESIDENCE  SHALL
MEAN  SUCH  RESIDENCE  PURSUANT TO SECTION ONE HUNDRED TWENTY-ONE OF THE
INTERNAL REVENUE CODE.
  (2) THE CREDIT SHALL BE ALLOWED FOR THE  TAXABLE  YEAR  IN  WHICH  THE
PRINCIPAL  RESIDENCE HAS BEEN PURCHASED OR CONSTRUCTED, OR THE RETROFIT-
TING OR RENOVATION  OF  THE  RESIDENCE  OR  RESIDENTIAL  UNIT  HAS  BEEN
COMPLETED,  OR  THE  YEAR  OF  ALLOCATION TO THE TAXPAYER AS PROVIDED IN
PARAGRAPH SEVEN OF  THIS  SUBSECTION.  THE  CREDIT  ALLOWED  UNDER  THIS
SUBSECTION  SHALL  NOT EXCEED (A) TWENTY-SEVEN HUNDRED FIFTY DOLLARS FOR
THE PURCHASE OF A NEW RESIDENCE, OR  (B)  FIFTY  PERCENT  OF  THE  TOTAL
AMOUNT  EXPENDED,  BUT  NOT TO EXCEED TWENTY-SEVEN HUNDRED FIFTY DOLLARS
FOR THE RETROFITTING OR RENOVATION OF EACH EXISTING RESIDENCE OR UNIT.

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