Bill Text: NY A05333 | 2017-2018 | General Assembly | Amended

---

Bill Title: Creates a disabled person retrofit tax credit.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Vetoed) 2018-12-21 - tabled [A05333 Detail]

Download: New_York-2017-A05333-Amended.html

---

                STATE OF NEW YORK
        ________________________________________________________________________
                                         5333--A
                                                                Cal. No. 382
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    February 8, 2017
                                       ___________
        Introduced  by M. of A. WEPRIN, JAFFEE, MOSLEY -- read once and referred
          to the Committee on Ways and Means --  ordered  to  a  third  reading,
          amended  and  ordered  reprinted,  retaining its place on the order of
          third reading
        AN ACT to amend the tax law, in relation to creating a  disabled  person
          retrofit tax credit
          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)  Disabled  person  retrofit  tax  credit.  (1) For taxable years
     4  beginning on or after January first, two thousand nineteen,  a  taxpayer
     5  shall  be  allowed  a  credit,  to  be computed as hereinafter provided,
     6  against the tax imposed by this article. The amount of the credit  shall
     7  be  equal  to thirty percent of the cost of the expenditures made by the
     8  taxpayer with respect to the installation of qualified improvements at a
     9  dwelling occupied by the taxpayer as his or her  primary  residence  and
    10  may be allowed in the taxable year in which the expenditure is incurred;
    11  provided  that the lifetime credit allowable with regard to expenditures
    12  for the installation of qualified improvements at a particular  dwelling
    13  by  any taxpayer shall not exceed five thousand dollars in the aggregate
    14  for improvements made to that dwelling. Subject  to  the  provisions  of
    15  this  subsection,  a  taxpayer  shall be allowed a credit, not to exceed
    16  five thousand dollars in the  aggregate,  for  each  dwelling  that  the
    17  taxpayer  occupies  as  his  or  her  primary residence and at which the
    18  taxpayer installs qualified improvements.
    19    (2) As used in this  subsection  "qualified  improvements"  means  the
    20  installation of:
    21    (A)  a  no-step  entrance  or entrances allowing access into the resi-
    22  dence;
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06269-02-8
        A. 5333--A                          2
     1    (B) interior passage doors providing at least a thirty-two  inch  wide
     2  opening;
     3    (C)  reinforcements  in  bathroom  walls allowing installation of grab
     4  bars around the toilet, tub and shower; and
     5    (D) light switches and outlets placed in locations accessible to disa-
     6  bled persons.
     7    (3) If the amount of credit  allowable  under  this  subsection  shall
     8  exceed  the taxpayer's tax for such year, the excess may be carried over
     9  to the following year or years and may be deducted from  the  taxpayer's
    10  tax for such year or years.
    11    (4)  (A)  The  provisions  of  this  subsection shall not apply to any
    12  dwelling owned solely for commercial purposes. In the case of a building
    13  where less than the entire building  is  used  as  a  residence  of  the
    14  taxpayer,  only the portion of the total expenditures made in the build-
    15  ing that is attributable to the  residence  of  the  taxpayer  shall  be
    16  treated as qualified expenditures for the purposes of this subsection.
    17    (B)  If the taxpayer occupies the dwelling as his or her primary resi-
    18  dence for only a portion of a tax year in  which  a  credit  under  this
    19  subsection  is  claimed,  the  amount  of  the allowable credit shall be
    20  reduced in proportion to the amount of time the taxpayer did not  occupy
    21  the dwelling as his or her primary residence.
    22    (C)  In  the case of a dwelling that is owned by and is a residence of
    23  two or more persons, other than a husband and wife, the portion  of  the
    24  total  expenditures  made  in the rehabilitation of the building that is
    25  attributable to each taxpayer shall be equal to the taxpayer's share  of
    26  ownership in such building.
    27    (5)  The  taxpayer  shall furnish such information as the commissioner
    28  determines is necessary to determine any credit under this subsection.
    29    (6) The aggregate amount of tax credits allowed shall be  one  million
    30  dollars  each  year. Such aggregate amount of credits shall be allocated
    31  by the department among taxpayers in order of priority  based  upon  the
    32  date  of filing. If the total amount of allocated credits applied for in
    33  any particular year exceeds the aggregate amount of tax credits  allowed
    34  for such year under this section, such excess shall be treated as having
    35  been applied for on the first day of the subsequent year.
    36    §  2.  This  act  shall take effect immediately and shall be deemed to
    37  have been in full force  and  effect  on  and  after  January  1,  2019;
    38  provided further, this act shall apply to all tax years commencing on or
    39  after January 1, 2019.