|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|May 14, 2019||reported and committed to finance|
|Apr 16, 2019||referred to budget and revenue|
senate Bill S5219
Current Bill Status - In Senate Committee Finance Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S5219 (ACTIVE) - Details
S5219 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5219 SPONSOR: KENNEDY TITLE OF BILL: An act to amend the tax law, in relation to establish- ing a sanitary sewer lateral pipe replacement or repair credit PURPOSE: The purpose of this bill is to allow for an individual taxpayer to utilize a personal income tax credit when they incur the costs for the replacement or repairs of a sanitary sewer lateral pipe, as recommended by a certified plumber or by the municipality in which they reside. SUMMARY OF SPECIFIC PROVISIONS: Section 1 amends a new subsection ccc to the tax law to establish a tax credit for taxpayers in owner occupied homes that replace or repair their sanitary sewer pipe. Section 2 establishes the effective date.
S5219 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5219 2019-2020 Regular Sessions I N S E N A T E April 16, 2019 ___________ Introduced by Sen. KENNEDY -- 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 establishing a sanitary sewer lateral pipe replacement or repair credit 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) SANITARY SEWER LATERAL PIPE REPLACEMENT CREDIT. (1) GENERAL. AN INDIVIDUAL TAXPAYER SHALL BE ALLOWED A CREDIT FOR TAXABLE YEARS BEGIN- NING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWENTY AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE COSTS TO REPAIR OR REPLACE A LATERAL SANITARY SEWER PIPE, WHEN SUCH REPAIR OR REPLACEMENT IS RECOMMENDED BY A CERTIFIED PLUMBER OR THE PRESIDING MUNICIPALITY. THE AMOUNT OF THE CRED- IT SHALL BE TWENTY-FIVE PERCENT OF THE TOTAL COST OF REPAIR OR REMOVAL. (2) LATERAL REPAIR AND REPLACEMENT COSTS. (A) THE TERM "COSTS OF REPLACEMENT" INCLUDES THE COST OF AN ASSESSMENT FROM A PLUMBER, ANY INITIAL APPRAISALS, LABOR COSTS, DISPOSAL FEES, AND CLEANUP FEES; EXCEPT ANY STATE OR LOCAL SALES TAX APPLICABLE TO THE SERVICES PERFORMED. (B) THE TERM "COSTS OF REPAIR" INCLUDES THE COST OF AN ASSESSMENT FROM A PLUMBER, ANY INITIAL APPRAISALS, LABOR COSTS, DISPOSAL FEES, AND FOLLOW-UP FEES; EXCEPT ANY STATE OR LOCAL SALES TAX APPLICABLE TO THE SERVICES. (3) AMOUNT OF CREDIT. THE AGGREGATE AMOUNT OF TAX CREDITS ALLOWED UNDER THIS SUBSECTION IN ANY CALENDAR YEAR STATEWIDE SHALL BE FIVE MILLION DOLLARS. (4) LATERAL REPAIR OR REPLACEMENT FOR QUALIFIED TAXPAYERS. A PROPERTY OWNER WHO INCURS COSTS FOR REPAIRING OR REPLACING LATERAL SEWER PIPES MUST BE REPLACING OR REPAIRING THE LATERAL PIPE LOCATED ON A RESIDENTIAL PROPERTY OR MIXED-USE PROPERTY, WHICH IS: (A) LOCATED IN THIS STATE; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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