Assembly Bill A4770

2023-2024 Legislative Session

Establishes a tax deduction for tires that are blown out from potholes on state and local roads

download bill text pdf

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Archive: Last Bill Status - In Assembly 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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2023-A4770 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2021-2022 Legislative Session:
A9578

2023-A4770 (ACTIVE) - Summary

Establishes a tax credit for tires that are blown out from potholes on state and local roads up to one thousand dollars.

2023-A4770 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4770
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 23, 2023
                                ___________
 
 Introduced  by M. of A. MCGOWAN -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN ACT to amend the tax law, in relation to establishing  a  tax  credit
   for tires that are blown out from potholes on state and local roads
 
   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)  BLOWN OUT TIRES TAX CREDIT. (1) ALLOWANCE OF CREDIT. A TAXPAYER
 WHO HAS TO REPLACE BLOWN OUT TIRES ON THEIR VEHICLE DUE TO  POTHOLES  ON
 STATE AND LOCAL ROADS SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED,
 AGAINST  THE TAX IMPOSED BY THIS ARTICLE. THE AMOUNT OF THE CREDIT SHALL
 BE ONE THOUSAND DOLLARS.
   (2) APPLICATION OF CREDIT. 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) PROOF OF CLAIM. THE COMMISSIONER MAY REQUIRE A QUALIFIED  TAXPAYER
 TO  FURNISH PROOF OF HIS OR HER BLOWN OUT TIRES IN SUPPORT OF HIS OR HER
 CLAIM FOR CREDIT UNDER THIS SUBSECTION.
   § 2. This act shall take effect immediately and shall apply to taxable
 years commencing on and after January 1, 2023.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06750-01-3

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