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Assembly Bill A6530

2023-2024 Legislative Session

Establishes a tax credit for homeowners and businesses to build permeable surfaces

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Archive: Last Bill Status - In Assembly Committee

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2023-A6530 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: A8383
2017-2018: A673
2019-2020: A961
2021-2022: A6311
2025-2026: A4955

2023-A6530 (ACTIVE) - Summary

Establishes a tax credit for homeowners and businesses to build permeable surfaces.

2023-A6530 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6530
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 13, 2023
                                ___________
 
 Introduced by M. of A. STIRPE, FAHY, GUNTHER, LUPARDO, MAGNARELLI, SIMON
   -- read once and referred to the Committee on Ways and Means
 
 AN  ACT  to  amend  the  tax law, in relation to credits against tax for
   homeowners and businesses to build permeable surfaces
 
   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)  CREDIT  FOR  HOMEOWNERS  AND  BUSINESSES  TO  BUILD   PERMEABLE
 SURFACES. (1)(A) HOMEOWNERS WHO CONSTRUCT A PERMEABLE SURFACE AS PART OF
 THEIR  REAL  PROPERTY,  DURING  THE  TAXABLE  YEAR, SHALL BE ELIGIBLE TO
 RECEIVE  A  TAX  CREDIT  FOR  UP  TO  FIFTY  PERCENT  OF  THE  COST   OF
 CONSTRUCTION, NOT EXCEEDING FIVE THOUSAND DOLLARS.
   (B)  FOR  PURPOSES  OF THIS SUBSECTION THE FOLLOWING DEFINITIONS SHALL
 APPLY:
   (I) HOMEOWNER IS DEFINED AS A NEW YORK RESIDENT FOR THE  PAST  TWENTY-
 FOUR  MONTHS  AND  WHO OWNS A SINGLE FAMILY OR MULTI-FAMILY DWELLING FOR
 RESIDENTIAL PURPOSES WITHIN NEW YORK STATE.
   (II) PERMEABLE SURFACE, SHALL MEAN ANY PERMEABLE  PAVING  THAT  ALLOWS
 THE  MOVEMENT  OF WATER AND AIR AROUND THE PAVING MATERIALS. A PERMEABLE
 SURFACE SHALL INCLUDE BUT NOT BE LIMITED TO:  SIDEWALKS,  DRIVEWAYS  AND
 PARKING LOTS.
   (2)(A)  BUSINESSES  WHO  CONSTRUCT  A PERMEABLE SURFACE ADJACENT TO OR
 WITHIN ONE THOUSAND FEET OF THE PROPERTY, DURING THE TAXABLE YEAR, SHALL
 BE ELIGIBLE TO RECEIVE A TAX CREDIT FOR UP TO FIFTY PERCENT OF THE  COST
 OF CONSTRUCTION, NOT EXCEEDING FIVE THOUSAND DOLLARS.
   (B)  FOR  PURPOSES  OF THIS SUBSECTION THE FOLLOWING DEFINITIONS SHALL
 APPLY:
   (I) BUSINESS SHALL MEAN ANY BUSINESS WHOSE PRINCIPAL PLACE OF BUSINESS
 IS LOCATED IN NEW YORK STATE, AND HAS BEEN LOCATED IN THE STATE FOR  THE
 PREVIOUS THIRTY-SIX MONTHS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02167-01-3

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