NY State Senate Bill S2424

Archive: Last Bill Status Via A2493 - Vetoed by Governor

Introduced
In Committee
On Floor Calendar
- Passed Senate
- Passed Assembly
Delivered to Governor
Vetoed by Governor

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Actions

view actions (13)

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Nov 20, 2019	tabled vetoed memo.138
Nov 08, 2019	delivered to governor
May 30, 2019	returned to assembly passed senate 3rd reading cal.997 substituted for s2424
May 30, 2019	substituted by a2493 ordered to third reading cal.997 committee discharged and committed to rules
May 21, 2019	reported and committed to rules
Apr 30, 2019	reported and committed to finance
Jan 24, 2019	referred to budget and revenue

Votes

view votes

May 30, 2019 - floor Vote

A2493

floor

Aye

Nay

Absent

Excused

Abstained

May 30, 2019 - Rules committee Vote

S2424

committee

Aye

Nay

Aye with Reservations

Absent

Excused

Abstained

May 21, 2019 - Finance committee Vote

S2424

committee

Aye

Nay

Aye with Reservations

Absent

Excused

Abstained

Apr 30, 2019 - committee Vote

S2424

committee

Aye

Nay

Aye with Reservations

Absent

Excused

Abstained

S2424 (ACTIVE) - Details

See Assembly Version of this Bill:: A2493
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
2021-2022: S7365, A3409

S2424 (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.

S2424 (ACTIVE) - Sponsor Memo

 
BILL NUMBER: S2424

SPONSOR: KAPLAN
 
TITLE OF BILL:

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

 
PURPOSE:

To allow a tax credit for either new or retrofitted principal residences
which are universally designed to be accessible and adaptable housing.

 
SUMMARY OF SPECIFIC PROVISIONS:

This bill amends section 606 of the tax law by adding a new subsection
(ccc) which would provide a one-time tax credit for a newly constructed
principal residence not to exceed $2,750 or for a renovated principal
residence of 50% of the amount expended, not to exceed $2,750, for
universal visitability. Eligibility requirements for universal visita-

bility would be established through guidelines by the Department of
State Division of Code Enforcement and Administration. This credit would
be effective beginning January 1, 2020 until December 31, 2024.

 
JUSTIFICATION:

This legislation provides a positive incentive for universal design
changes to create accessible and adaptable housing which is important to
allow individuals to age in place. Universal design changes make resi-
dences accessible and user friendly for senior citizens and others with
limited mobility. By providing seniors with the opportunity to age in
place, this may save some of the costs associated with assisted living
or nursing homes. This bill would provide and alternative for many
seniors who are able to remain in place with universal design changes.
It also will assist in building an inventory of residence which will
have universal design to ensure accessibility. The use of a tax credit
provides and incentive rather than a mandated approach.

 
PRIOR LEGISLATIVE HISTORY:

A. 10668 of 2018; Passed Assembly.
S.2411A/A.5950A - 2017; Passed both houses and Vetoed by Governor.
S.6943A/A.9303B - 2016;
S.2967A/A.1276 - 2015 Passed both houses and Vetoed by Governor.

 
FISCAL IMPLICATIONS:

The total credit amount provided by the state will be capped at $1
million.

 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply, to:taxable years
commencing on and after January 1, 2020 and shall expire and be deemed
repealed December 31, 2024.

S2424 (ACTIVE) - Bill Text download pdf


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

                                  2424

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 24, 2019
                               ___________

Introduced  by  Sen.  KAPLAN -- 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, 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.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04612-01-9

S. 2424                             2

  (3) NO CREDIT SHALL BE ALLOWED UNDER THIS SUBSECTION FOR THE PURCHASE,
RETROFITTING OR RENOVATION OF RESIDENTIAL RENTAL PROPERTY.
  (4)  THE  CREDIT  SHALL  BE  ALLOWED  UNDER  THIS  SUBSECTION ONLY FOR
UNIVERSAL VISITABILITY IMPROVEMENTS MADE BY OR AT THE DIRECTION  OF  THE
TAXPAYER.
  (5)  IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION SHALL
EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS MAY BE CARRIED  OVER
TO  THE  FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S
TAX FOR SUCH YEAR OR YEARS.
  (6) ELIGIBLE TAXPAYERS SHALL APPLY FOR THE CREDIT THROUGH THE DIVISION
OF CODE ENFORCEMENT AND ADMINISTRATION WITHIN THE DEPARTMENT  OF  STATE.
THE  DIVISION  OF CODE ENFORCEMENT AND ADMINISTRATION WITHIN THE DEPART-
MENT OF STATE SHALL ISSUE A CERTIFICATION FOR AN APPROVED APPLICATION TO
THE TAXPAYER THAT STATES THE AMOUNT  OF  THE  CREDIT  ALLOCATED  TO  THE
TAXPAYER AND THE ALLOCATION YEAR.
  (7)  (A)  THE  AGGREGATE AMOUNT OF TAX CREDITS ALLOWED PURSUANT TO THE
AUTHORITY OF THIS SUBSECTION SHALL BE  ONE  MILLION  DOLLARS  EACH  YEAR
DURING  THE PERIOD TWO THOUSAND TWENTY THROUGH TWO THOUSAND TWENTY-FOUR.
SUCH AGGREGATE AMOUNTS OF CREDITS SHALL BE ALLOCATED BY  THE  DEPARTMENT
OF  STATE  AMONG  TAXPAYERS  IN ORDER OF PRIORITY BASED UPON THE DATE OF
FILING AN APPLICATION FOR ALLOCATION OF CREDIT WITH THE DIVISION OF CODE
ENFORCEMENT AND ADMINISTRATION. IF THE TOTAL AMOUNT OF ALLOCATED CREDITS
APPLIED FOR IN ANY PARTICULAR YEAR EXCEEDS THE AGGREGATE AMOUNT  OF  TAX
CREDITS  ALLOWED  FOR SUCH YEAR UNDER THIS SUBSECTION, SUCH EXCESS SHALL
BE TREATED AS HAVING BEEN APPLIED FOR ON THE FIRST DAY OF THE SUBSEQUENT
YEAR.
  (B) THE SECRETARY OF STATE, AFTER CONSULTING  WITH  THE  COMMISSIONER,
SHALL PROMULGATE REGULATIONS BY OCTOBER THIRTY-FIRST, TWO THOUSAND NINE-
TEEN  TO  ESTABLISH  PROCEDURES  FOR  THE  ALLOCATION  OF TAX CREDITS AS
REQUIRED BY THIS SUBPARAGRAPH. SUCH RULES AND REGULATIONS SHALL  INCLUDE
PROVISIONS  DESCRIBING  THE  APPLICATION PROCESS, THE DUE DATES FOR SUCH
APPLICATIONS, THE STANDARDS WHICH SHALL BE USED TO EVALUATE THE APPLICA-
TIONS, THE DOCUMENTATION THAT WILL BE PROVIDED TO TAXPAYERS TO  SUBSTAN-
TIATE  TO  THE  DEPARTMENT  THE  AMOUNT OF TAX CREDITS ALLOCATED TO SUCH
TAXPAYERS, AND SUCH OTHER PROVISIONS AS DEEMED NECESSARY  AND  APPROPRI-
ATE.  NOTWITHSTANDING  ANY OTHER PROVISIONS TO THE CONTRARY IN THE STATE
ADMINISTRATIVE PROCEDURE ACT, SUCH RULES AND REGULATIONS MAY BE  ADOPTED
ON  AN  EMERGENCY  BASIS IF NECESSARY TO MEET SUCH OCTOBER THIRTY-FIRST,
TWO THOUSAND NINETEEN DEADLINE.
  (8) THE DEPARTMENT OF STATE SHALL SUBMIT TO THE GOVERNOR,  THE  TEMPO-
RARY PRESIDENT OF THE SENATE, AND THE SPEAKER OF THE ASSEMBLY, AN ANNUAL
REPORT  TO  BE  SUBMITTED  BY FEBRUARY FIRST OF EACH YEAR EVALUATING THE
EFFECTIVENESS OF THE UNIVERSAL VISITABILITY TAX CREDIT PROVIDED BY  THIS
SUBSECTION. SUCH REPORT SHALL BE BASED ON DATA AVAILABLE FROM THE APPLI-
CATION  FILED  WITH  THE DIVISION OF CODE ENFORCEMENT AND ADMINISTRATION
FOR UNIVERSAL VISITABILITY CREDITS. NOTWITHSTANDING ANY PROVISION OF LAW
TO THE CONTRARY, THE INFORMATION CONTAINED IN THE REPORT SHALL BE PUBLIC
INFORMATION. THE REPORT MAY ALSO INCLUDE ANY RECOMMENDATIONS OF  CHANGES
IN THE CALCULATION OR ADMINISTRATION OF THE CREDIT, AND ANY OTHER RECOM-
MENDATION OF THE COMMISSIONER OF THE DEPARTMENT OF STATE OR THE DIVISION
OF  CODE  ENFORCEMENT  AND ADMINISTRATION REGARDING CONTINUING MODIFICA-
TION, REPEAL OF SUCH ACT, AND SUCH OTHER INFORMATION REGARDING  THE  ACT
AS THE DIVISION MAY FEEL USEFUL AND APPROPRIATE.
  § 2. This act shall take effect immediately and shall apply to taxable
years  commencing  on  and after January 1, 2020 and shall expire and be
deemed repealed December 31, 2024.

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The New York State Senate

senate Bill S2424

Sponsored By

Archive: Last Bill Status Via A2493 - Vetoed by Governor

Your Voice

Actions

Votes

May 30, 2019 - floor Vote

Floor Vote: May 30, 2019

May 30, 2019 - Rules committee Vote

Rules Committee Vote: May 30, 2019

May 21, 2019 - Finance committee Vote

Finance Committee Vote: May 21, 2019

Apr 30, 2019 - committee Vote

Committee Vote: Apr 30, 2019

S2424 (ACTIVE) - Details

S2424 (ACTIVE) - Summary

S2424 (ACTIVE) - Sponsor Memo

S2424 (ACTIVE) - Bill Text download pdf

Comments

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senate Bill S2424

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Sponsored By

Archive: Last Bill Status Via A2493 - Vetoed by Governor

Your Voice

Actions

Votes

May 30, 2019 - floor Vote

Floor Vote: May 30, 2019

May 30, 2019 - Rules committee Vote

Rules Committee Vote: May 30, 2019

May 21, 2019 - Finance committee Vote

Finance Committee Vote: May 21, 2019

Apr 30, 2019 - committee Vote

Committee Vote: Apr 30, 2019

S2424 (ACTIVE) - Details

S2424 (ACTIVE) - Summary

S2424 (ACTIVE) - Sponsor Memo

S2424 (ACTIVE) - Bill Text download pdf

Comments

Related Recent Legislation

Related Issues