S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5710
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 14, 2019
                                ___________
 
 Introduced  by M. of A. ENGLEBRIGHT, CAHILL, RIVERA, BENEDETTO -- Multi-
   Sponsored by -- M. of A. AUBRY, COOK, PEOPLES-STOKES,  PERRY  --  read
   once and referred to the Committee on Ways and Means
 
 AN  ACT  to  amend  the  tax  law, in relation to providing for a credit
   against personal income tax for sheltering a homeless person sixty-two
   years of age or older
 
   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 (o-1) to read as follows:
   (O-1) SHELTERING HOMELESS PERSON CREDIT. (1) FOR TAXABLE YEARS  BEGIN-
 NING  ON  OR  AFTER TWO THOUSAND NINETEEN, A TAXPAYER SHALL BE ALLOWED A
 CREDIT, TO BE CREDITED AGAINST THE TAX IMPOSED BY  THIS  ARTICLE,  AFTER
 ALLOWANCE  OF ANY OTHER CREDIT PROVIDED UNDER THIS SECTION AND ANY CRED-
 ITS PERMITTED UNDER SECTIONS SIX HUNDRED TWENTY, SIX HUNDRED  TWENTY-ONE
 AND  SIX  HUNDRED  THIRTY-FIVE OF THIS ARTICLE. THE AMOUNT OF THE CREDIT
 SHALL BE ONE THOUSAND DOLLARS FOR EACH HOMELESS PERSON  SIXTY-TWO  YEARS
 OF AGE OR OLDER WHOM THE TAXPAYER SHELTERS IN HIS OR HER HOME, PROVIDING
 ROOM  AND  BOARD,  DURING  THE TAXABLE YEAR, PROVIDED THAT SUCH HOMELESS
 PERSON SHALL HAVE BEEN SHELTERED BY THE TAXPAYER FOR NOT LESS  THAN  ONE
 YEAR.
   (2)  IN  NO  EVENT SHALL THE AMOUNT OF THE CREDIT PROVIDED FOR IN THIS
 SUBSECTION BE ALLOWED IN EXCESS OF THE TAXPAYER'S  TAX  FOR  SUCH  YEAR.
 HOWEVER,  IF  THE  AMOUNT  OF  CREDIT  OTHERWISE  ALLOWABLE  UNDER  THIS
 SUBSECTION FOR ANY TAXABLE YEAR  RESULTS  IN  SUCH  EXCESS  AMOUNT,  ANY
 AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER
 TO  THE  FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S
 TAX FOR SUCH YEAR OR YEARS.
   (3) FOR PURPOSES OF THIS SUBSECTION, "HOMELESS PERSON" SHALL HAVE  THE
 MEANING PRESCRIBED IN SUBDIVISION TWO OF SECTION FORTY-TWO OF THE SOCIAL
 SERVICES  LAW,  PROVIDED  THAT  SUCH PERSON IS SIXTY-TWO YEARS OF AGE OR
 OLDER.
   § 2. This act shall take effect immediately.
 
              

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09513-01-9