NY State Bill 2021-S9592

Archive: Last Bill Status -

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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2021-S9592 (ACTIVE) - Details

2021-S9592 (ACTIVE) - Summary

Provides for an enhanced home energy assistance program tax credit for certain income eligible residents.

2021-S9592 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S9592

SPONSOR: SERINO
 
TITLE OF BILL:

An act to amend the tax law, in relation to an enhanced home energy
assistance program tax credit

 
PURPOSE:

To expand eligibility for home energy assistance and increase the
assistance provided to current beneficiaries of the Home Energy Assist-
ance Program (HEAP).

 
SUMMARY OF PROVISIONS:

Section 1: Amends the Tax Law to establish the Enhanced Home Energy
Assistance Program Tax Credit. Provides that taxpayers making less than
52% more than the applicable threshold for the Home Energy Assistance
Program (HEAP) shall receive a tax credit equal to the energy assistance
benefit to which they would otherwise be entitled.  Furthermore,
provides that taxpayers already receiving HEAP benefits will also

receive a tax credit equal to 50% of the benefits they are receiving.
Such benefits shall be treated as an overpayment of tax to be credited
or refunded to taxpayers if the amount of the credit for any taxable
year exceeds the taxpayer's tax for that year.

Provides that the Commissioner shall implement a process and procedures
to ensure non-filers shall receive the monetary value of the credit they
would be entitled to receive.

Section 2: Provides the effective date.

 
JUSTIFICATION:

With double digit percent increases in utility bills predicted once
again this year for many New York ratepayers, in addition to the record
high inflation rates that have been devastating so many families
throughout the country, New Yorkers are increasingly concerned about how
they will afford to heat their homes this winter while affording other
basic necessities. New Yorkers' wallets are stretch thin, and their
dollars simply aren't going as far as they used to. As prices of basic
necessities continue to skyrocket, it is imperative that hardworking
individuals and families are not left facing the choice of heating their
home, filling their gas tank or putting a meal on the table.

This legislation would enhance the critical Home Energy Assistance
Program (HEAP), a federally-funded program that is a lifeline to low-
and middle-income New Yorkers, by supplementing the benefits with a tax
credit. The Enhanced HEAP Tax Credit would effectively expand HEAP
eligibility by providing New Yorkers making less than 52% above the
current applicable eligibility guidelines with a tax credit equal to the
HEAP benefits. This would allow, for example, a family of four with an
annual gross income of a little more than $100,000 a year to receive
this benefit, which may other otherwise be limited to maximum annual
income of $65,829 or less for such a family.

For those already eligible for HEAP benefits, it would provide a tax
credit on top of their existing benefits that would be equal to 50% of
the benefits they're currently receiving. Further, this legislation
provides that the Commissioner of Tax and Finance shall a process and
procedures to ensure that non-filers receive the monetary value of the
credit they would otherwise be entitled to under this new tax credit.

It is clear that out-of-control costs, particularly those in New York
State, warrant more New Yorkers being able to access the critical relief
provided by this program, and a supplement for existing beneficiaries to
ensure they can continue to get by as our State faces this affordability
crisis.

 
LEGISLATIVE HISTORY:

New bill.

 
FISCAL IMPLICATIONS:

TBD.

 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to taxable years
beginning on or after January 1, 2023.

2021-S9592 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9592
 
                             I N  S E N A T E
 
                             November 4, 2022
                                ___________
 
 Introduced  by  Sen.  SERINO -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the tax law, in relation  to  an  enhanced  home  energy
   assistance program tax 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 (ooo) to read as follows:
   (OOO) ENHANCED HOME ENERGY ASSISTANCE PROGRAM TAX CREDIT. (1) AN INDI-
 VIDUAL  TAXPAYER WHO MEETS THE ELIGIBILITY STANDARDS IN PARAGRAPH TWO OF
 THIS SUBSECTION SHALL BE ALLOWED THE CORRESPONDING  CREDIT  AGAINST  THE
 TAXES  IMPOSED  BY  THIS  ARTICLE,  PURSUANT  TO PARAGRAPH THREE OF THIS
 SUBSECTION.
   (2) (A) TO BE ELIGIBLE FOR THE CREDIT PURSUANT TO SUBPARAGRAPH (A)  OF
 PARAGRAPH  THREE  OF  THIS SUBSECTION, THE TAXPAYER (OR TAXPAYERS FILING
 JOINT RETURNS) ON THE PERSONAL INCOME TAX RETURN FILED FOR  THE  TAXABLE
 YEAR  THE PRIOR YEAR, MUST HAVE (I) BEEN A RESIDENT, AND (II) HAD INCOME
 THAT IS LESS THAN FIFTY-TWO PERCENT HIGHER THAN  THE  APPLICABLE  INCOME
 ELIGIBILITY  STANDARDS FOR THE LOW-INCOME HOME ENERGY ASSISTANCE PROGRAM
 PURSUANT TO SECTION NINETY-SEVEN OF THE SOCIAL SERVICES LAW  AND  OTHER-
 WISE MEET THE ELIGIBILITY REQUIREMENTS FOR SUCH PROGRAM.
   (B)  TO  BE  ELIGIBLE  FOR  THE CREDIT PURSUANT TO SUBPARAGRAPH (B) OF
 PARAGRAPH THREE OF THIS SUBSECTION, THE TAXPAYER  (OR  TAXPAYERS  FILING
 JOINT  RETURNS)  ON THE PERSONAL INCOME TAX RETURN FILED FOR THE TAXABLE
 YEAR THE PRIOR YEAR, MUST HAVE (I) BEEN A RESIDENT,  AND  (II)  MUST  BE
 CERTIFIED AS ELIGIBLE FOR AND ENTITLED TO RECEIVE HOME ENERGY ASSISTANCE
 PURSUANT TO SECTION NINETY-SEVEN OF THE SOCIAL SERVICES LAW.
   (3)  (A) FOR THE PURPOSES OF THIS SUBSECTION, THE CREDIT FOR TAXPAYERS
 PURSUANT TO SUBPARAGRAPH (A) OF PARAGRAPH TWO OF THIS  SUBSECTION  SHALL
 BE  EQUAL TO THE OTHERWISE APPLICABLE HOME ENERGY ASSISTANCE PURSUANT TO
 SECTION NINETY-SEVEN OF THE SOCIAL SERVICES LAW FOR WHICH  THEIR  INCOME
 IS  LESS  THAN  FIFTY-TWO  PERCENT  HIGHER.  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 OVERPAY-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD16524-01-2
 S. 9592                             2
 
 MENT 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.
   (B)  FOR  THE  PURPOSES  OF  THIS SUBSECTION, THE CREDIT FOR TAXPAYERS
 PURSUANT TO SUBPARAGRAPH (B) OF PARAGRAPH TWO OF THIS  SUBSECTION  SHALL
 BE  EQUAL  TO  FIFTY  PERCENT  OF  THE APPLICABLE HOME ENERGY ASSISTANCE
 PURSUANT TO SECTION NINETY-SEVEN OF THE SOCIAL SERVICES  LAW  FOR  WHICH
 THEY  ARE  CERTIFIED  AS  ELIGIBLE  FOR  AND ENTITLED TO RECEIVE. 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  ACCORD-
 ANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTI-
 CLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   (4)  THE  COMMISSIONER  SHALL  IMPLEMENT  A  PROCESS AND PROCEDURES TO
 PROVIDE RESIDENTS WHO ARE OTHERWISE ELIGIBLE FOR THE CREDIT  UNDER  THIS
 SUBSECTION,  BUT  WHO  ARE  NOT  REQUIRED TO FILE A TAX RETURN, WITH THE
 MONETARY VALUE OF THE CREDIT WHICH THEY WOULD OTHERWISE HAVE BEEN  ENTI-
 TLED TO.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2023.

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Bill S9592

Sponsored By

Archive: Last Bill Status -

2021-S9592 (ACTIVE) - Details

2021-S9592 (ACTIVE) - Summary

2021-S9592 (ACTIVE) - Sponsor Memo

2021-S9592 (ACTIVE) - Bill Text download pdf

Comments

Bill S9592

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Sponsored By

Archive: Last Bill Status -

2021-S9592 (ACTIVE) - Details

2021-S9592 (ACTIVE) - Summary

2021-S9592 (ACTIVE) - Sponsor Memo

2021-S9592 (ACTIVE) - Bill Text download pdf

Comments