S T A T E O F N E W Y O R K
________________________________________________________________________
8522
I N S E N A T E
March 8, 2022
___________
Introduced by Sen. O'MARA -- 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 home heating
tax credit; and providing for the repeal of such provisions upon expi-
ration 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 (11-1) to read as follows:
(11-1) HOME HEATING TAX CREDIT. (1) FOR PURPOSES OF THIS SUBSECTION
THE TERM "QUALIFIED TAXPAYER" SHALL MEAN A RESIDENT INDIVIDUAL OF THE
STATE, WHO MAINTAINED HIS OR HER PRIMARY RESIDENCE IN THIS STATE ON
DECEMBER THIRTY-FIRST OF THE TAXABLE YEAR, AND WHO WAS AN OWNER OF SUCH
PROPERTY ON SUCH DATE OR RENTERS WHO ARE RESPONSIBLE FOR PAYING FOR
THEIR OWN HEAT, AND WHO ARE NOT ELIGIBLE FOR THE HOME ENERGY ASSISTANCE
PROGRAM. AN INDIVIDUAL SHALL BE CONSIDERED A QUALIFIED TAXPAYER WITH
RESPECT TO NO MORE THAN ONE PRIMARY RESIDENCE DURING ANY GIVEN TAXABLE
YEAR.
(2) THE TAX CREDIT UNDER THIS SUBSECTION SHALL BE DETERMINED AS
FOLLOWS:
(A) FOR SINGLE INDIVIDUALS THAT ARE QUALIFIED TAXPAYERS, A CREDIT OF
THREE HUNDRED DOLLARS FOR THOSE WITH INCOME OF ONE HUNDRED TWENTY-FIVE
THOUSAND DOLLARS OR LESS.
(B) FOR MARRIED INDIVIDUALS THAT ARE QUALIFIED TAXPAYERS AND FILE
JOINTLY, A CREDIT OF SIX HUNDRED DOLLARS FOR THOSE WITH INCOME OF TWO
HUNDRED FIFTY THOUSAND DOLLARS OR LESS.
(3) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION SHALL
EXCEED THE TAXPAYER'S TAX FOR THE TAXABLE YEAR, THE EXCESS SHALL BE
TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN ACCORD-
ANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTI-
CLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON. FOR EACH
YEAR SUCH CREDIT IS ALLOWED, ON OR BEFORE OCTOBER FIFTEENTH OF SUCH
YEAR, OR AS SOON THEREAFTER AS IS PRACTICABLE, THE COMMISSIONER SHALL
DETERMINE THE TAXPAYER'S ELIGIBILITY FOR SUCH CREDIT UTILIZING THE
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14681-01-2
S. 8522 2
INFORMATION AVAILABLE TO THE COMMISSIONER ON THE TAXPAYER'S PERSONAL
INCOME TAX RETURN FILED FOR THE TAXABLE YEAR TWO YEARS PRIOR TO THE
TAXABLE YEAR IN WHICH SUCH CREDIT IS ALLOWED. FOR THOSE TAXPAYERS WHOM
THE COMMISSIONER HAS DETERMINED TO BE ELIGIBLE FOR SUCH CREDIT, THE
COMMISSIONER SHALL ADVANCE A PAYMENT IN THE AMOUNT SPECIFIED IN PARA-
GRAPH TWO OF THIS SUBSECTION, WHICH PAYMENT SHALL BE ISSUED, TO THE
GREATEST EXTENT PRACTICABLE, BY OCTOBER THIRTY-FIRST OF EACH YEAR SUCH
CREDIT IS ALLOWED. A TAXPAYER WHO HAS FAILED TO RECEIVE AN ADVANCE
PAYMENT THAT HE OR SHE BELIEVES WAS DUE TO HIM OR HER, OR WHO HAS
RECEIVED AN ADVANCE PAYMENT THAT HE OR SHE BELIEVES IS LESS THAN THE
AMOUNT THAT WAS DUE TO HIM OR HER, MAY REQUEST PAYMENT OF SUCH CLAIMED
DEFICIENCY IN A MANNER PRESCRIBED BY THE COMMISSIONER.
§ 2. This act shall take effect immediately and shall apply to the
taxable year 2021 and shall expire and be deemed repealed December 31,
2022.