Bill Text: NY A00961 | 2019-2020 | General Assembly | Introduced


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

Spectrum: Moderate Partisan Bill (Democrat 6-1)

Status: (Introduced) 2019-01-14 - referred to ways and means [A00961 Detail]

Download: New_York-2019-A00961-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                           961
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 14, 2019
                                       ___________
        Introduced by M. of A. STIRPE, FAHY, GUNTHER, LUPARDO, MAGNARELLI, RAIA,
          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:
     1    Section  1.  Section  606  of  the  tax law is amended by adding a new
     2  subsection (jjj) to read as follows:
     3    (jjj)  Credit  for  homeowners  and  businesses  to  build   permeable
     4  surfaces. (1)(a) Homeowners who construct a permeable surface as part of
     5  their  real  property,  during  the  taxable  year, shall be eligible to
     6  receive  a  tax  credit  for  up  to  fifty  percent  of  the  cost   of
     7  construction, not exceeding five thousand dollars.
     8    (b)  For  purposes  of this subsection the following definitions shall
     9  apply:
    10    (i) Homeowner is defined as a New York resident for the  past  twenty-
    11  four  months  and  who owns a single family or multi-family dwelling for
    12  residential purposes within New York state.
    13    (ii) Permeable surface, shall mean any permeable  paving  that  allows
    14  the  movement  of water and air around the paving materials. A permeable
    15  surface shall include but not be limited to:  sidewalks,  driveways  and
    16  parking lots.
    17    (2)(a)  Businesses  who  construct  a permeable surface adjacent to or
    18  within one thousand feet of the property, during the taxable year, shall
    19  be eligible to receive a tax credit for up to fifty percent of the  cost
    20  of construction, not exceeding five thousand dollars.
    21    (b)  For  purposes  of this subsection the following definitions shall
    22  apply:
    23    (i) Business shall mean any business whose principal place of business
    24  is located in New York state, and has been located in the state for  the
    25  previous thirty-six months.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00658-01-9

        A. 961                              2
     1    (ii)  Permeable  surface,  shall mean any permeable paving that allows
     2  the movement of water and air around the paving materials.  A  permeable
     3  surface  shall  include  but not be limited to: sidewalks, driveways and
     4  parking lots.
     5    § 2. This act shall take effect immediately and shall apply to taxable
     6  years commencing on and after such date.
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