NY State Senate Bill 2019-S7294

Archive: Last Bill Status - In Senate Committee Budget And Revenue Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 16, 2020	referred to budget and revenue

2019-S7294 (ACTIVE) - Details

See Assembly Version of this Bill:: A10131
Current Committee:: Senate Budget And Revenue
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L; amd §2346, Ins L; add §170-d, Exec L
Versions Introduced in Other Legislative Sessions:: 2021-2022: S2921, A6115
2023-2024: S1615, A2805

2019-S7294 (ACTIVE) - Summary

Enacts the residential structure fire prevention act of 2020; provides a tax credit to homeowners who remove cock loft fire hazards in their homes; provides an insurance discount for the installation of smoke detecting alarm devices in cock lofts; provides that the repair of cock lofts for the purpose of fire prevention and safety shall be qualifying expenditures under state housing programs.

2019-S7294 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S7294

SPONSOR: ADDABBO
 
TITLE OF BILL:

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
2020

 
PURPOSE OR GENERAL IDEA OF BILL:

Provides a tax credit to homeowners who repair cock loft fire hazards in
their homes.

 
SUMMARY OF SPECIFIC PROVISIONS:

-Section 606 of the Tax Law is amended by adding a new subsection (jjj)
to provide for a 25% tax credit, up to a maximum of $5000, for repairing
fire hazards commonly known as cocklofts, which are defined as a
completely enclosed space between the rafters and a suspended ceiling.

-Section 2346 of the Insurance Law is amended by adding a new section 6
to appropriate the reduction in the rates of fire insurance premiums
when there is a smoke alarm in the cock loft.

-The Executive Law is amended by adding a new section 170-c to allow the
repair of cocklofts for the purpose of fire prevention and safety to be
a qualifying expenditure under state funding programs At NYSERDA NYS
Homes and Community Renewal and NYSHCR and SONYMA

 
JUSTIFICATION:

This legislation is introduced as a result of major fires that have
taken place in Queens and Brooklyn. In these cases, the fire began as a
single family home fire which quickly spread down the entire block of
homes because of the existence of cock lofts which connected these hous-
es. Homes on the block were quickly consumed by the fire. If the cock
lofts were closed off, the devastation these fires caused would probably
not have been so great.

Row houses are no longer designed and built with cock lofts because of
the fire hazard. Closing, off these, already in existence, passage-ways
is not considered by homeowners because there is no inducement to do so.

This legislation will give homeowners the tax incentive they may need to
correct this building flaw, which may one day prove useful in avoiding
another catastrophe.

 
PRIOR LEGISLATIVE HISTORY:

2018 - Vetoed - Veto Memo 308.
2019 - Vetoed - Veto Memo 147.

 
FISCAL IMPLICATIONS:

To Be Determined.

 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to taxable years
beginning on or after January 1, 2021.

2019-S7294 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7294
 
                             I N  S E N A T E
 
                             January 16, 2020
                                ___________
 
 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
   2020
 
   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 2020".
   §  2. Section 606 of the tax law is amended by adding a new subsection
 (kkk) to read as follows:
   (KKK) 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
 DETECTING  ALARM  DEVICES  IN  COCK LOFTS, INCLUDING THE SAFE AND SECURE
 INSTALLATION THEREOF. FOR THE PURPOSES OF THIS SUBSECTION,  "COCK  LOFT"
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD08238-05-0

 S. 7294                             2
 
 SHALL  MEAN  A COMPLETELY ENCLOSED SPACE BETWEEN RAFTERS AND A SUSPENDED
 CEILING.
   §  4.  The  executive  law is amended by adding a new section 170-d to
 read as follows:
   § 170-D. 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, 2021.

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Senate Bill S7294

Sponsored By

Archive: Last Bill Status - In Senate Committee Budget And Revenue Committee

2019-S7294 (ACTIVE) - Details

2019-S7294 (ACTIVE) - Summary

2019-S7294 (ACTIVE) - Sponsor Memo

2019-S7294 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S7294

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Sponsored By

Joseph P. Addabbo Jr.

Archive: Last Bill Status - In Senate Committee Budget And Revenue Committee

2019-S7294 (ACTIVE) - Details

2019-S7294 (ACTIVE) - Summary

2019-S7294 (ACTIVE) - Sponsor Memo

2019-S7294 (ACTIVE) - Bill Text download pdf

Comments