S T A T E   O F   N E W   Y O R K
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                                   4398
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              March 11, 2019
                                ___________
 
 Introduced  by  Sen. ADDABBO -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law, the insurance law and the executive law, in
   relation to enacting the residential structure fire prevention act  of
   2019

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. This act shall be known and may be cited as  the  "residen-
 tial structure fire prevention act of 2019".
   §  2. Section 606 of the tax law is amended by adding a new subsection
 (jjj) to read as follows:
   (JJJ) CREDIT FOR REMOVING CERTAIN FIRE HAZARDS. (1) ANY RESIDENT OWNER
 OF  REAL PROPERTY AS DEFINED IN SECTION ONE  HUNDRED  TWO  OF  THE  REAL
 PROPERTY  TAX  LAW  SHALL  BE ALLOWED A CREDIT AGAINST THE TAX OTHERWISE
 IMPOSED UNDER THIS ARTICLE IN AN AMOUNT EQUAL TO TWENTY-FIVE PERCENT  OF
 THE COST OF REMOVING FIRE HAZARDS COMMONLY KNOWN AS COCK LOFTS, PROVIDED
 THAT SUCH CREDIT SHALL NOT EXCEED FIVE THOUSAND DOLLARS. FOR PURPOSES OF
 THIS SECTION THE TERM "COCK LOFT" SHALL MEAN A COMPLETELY ENCLOSED SPACE
 BETWEEN RAFTERS AND A SUSPENDED CEILING.
   (2)  IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
 TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR,  THE  EXCESS
 SHALL  BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
 ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
 ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   § 3. Section 2346 of the insurance law is  amended  by  adding  a  new
 subsection 6 to read as follows:
   6.  THE  SUPERINTENDENT  SHALL  PROVIDE FOR AN ACTUARIALLY APPROPRIATE
 REDUCTION IN THE RATES OF FIRE INSURANCE PREMIUMS OR THE FIRE  INSURANCE
 COMPONENT  OF  HOMEOWNERS  INSURANCE  PREMIUMS APPLICABLE TO RESIDENTIAL
 REAL PROPERTY EQUIPPED WITH SMOKE DETECTING ALARM DEVICES IN COCK LOFTS.
 THE SUPERINTENDENT SHALL BY REGULATION  ESTABLISH  STANDARDS  FOR  SMOKE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD08238-01-9

 S. 4398                             2
 
 DETECTING  ALARM  DEVICES  IN  COCK LOFTS, INCLUDING THE SAFE AND SECURE
 INSTALLATION THEREOF. FOR THE PURPOSES OF THIS SUBSECTION,  "COCK  LOFT"
 SHALL  MEAN  A COMPLETELY ENCLOSED SPACE BETWEEN RAFTERS AND A SUSPENDED
 CEILING.
   §  4.  The  executive  law is amended by adding a new section 170-c to
 read as follows:
   § 170-C. REPAIR OF CERTAIN FIRE HAZARDS. ANY STATE AGENCY OR  AUTHORI-
 TY,  INCLUDING BUT NOT LIMITED TO THE NEW YORK STATE ENERGY RESEARCH AND
 DEVELOPMENT AUTHORITY, DIVISION OF HOUSING  AND  COMMUNITY  RENEWAL  AND
 STATE OF NEW YORK MORTGAGE AGENCY, THAT PROVIDES A HOUSING PROGRAM SHALL
 INCLUDE  THE REPAIR OF COCK LOFTS FOR THE PURPOSE OF FIRE PREVENTION AND
 SAFETY AS A QUALIFYING EXPENDITURE  UNDER  ANY  SUCH  PROGRAM.  FOR  THE
 PURPOSES  OF  THIS SECTION, "COCK LOFT" SHALL MEAN A COMPLETELY ENCLOSED
 SPACE BETWEEN RAFTERS AND A SUSPENDED CEILING.
   § 5. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2020.