Bill Text: NY A08576 | 2013-2014 | General Assembly | Introduced
Bill Title: Protects homeowners by requiring insurance companies insure against property damage from oil spills from underground oil tanks and provides tax credits for those who replace underground tanks with above ground.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2014-06-17 - held for consideration in ways and means [A08576 Detail]
Download: New_York-2013-A08576-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
8576
I N A S S E M B L Y
January 23, 2014
___________
Introduced by M. of A. RUSSELL -- read once and referred to the Commit-
tee on Ways and Means
AN ACT to amend the tax law, in relation to modifications increasing
federalized itemized deductions for removing underground home heating
oil storage tanks; and to amend the navigation law, in relation to
claims against insurers for oil spills from underground heating oil
tanks and to amend the tax law, in relation to establishing a residen-
tial fund oil storage tank credit and providing for the repeal of
certain provisions upon expiration thereof
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subsection (d) of section 615 of the tax law is amended by
2 adding a new paragraph 5 to read as follows:
3 (5) AN AMOUNT, NOT TO EXCEED FIFTY PERCENT OF THE AMOUNT EXPENDED BY A
4 TAXPAYER WHO IS THE OWNER OF A ONE, TWO OR THREE FAMILY HOME WHO
5 PROMOTES ENVIRONMENTAL QUALITY THROUGH THE REMOVAL OF AN UNDERGROUND
6 HOME HEATING OIL STORAGE TANK AND THE REPLACEMENT OF SUCH TANK WITH AN
7 ABOVE GROUND HOME HEATING OIL STORAGE TANK OR ANOTHER SOURCE OF HOME
8 HEATING. THIS DEDUCTION IS LIMITED TO ONE THOUSAND DOLLARS IN ANY ONE
9 YEAR.
10 S 2. Section 190 of the navigation law, as added by chapter 845 of the
11 laws of 1977, is amended to read as follows:
12 S 190. Claims against insurers. (A) Any claims for costs of cleanup
13 and removal, civil penalties or damages by the state and any claim for
14 damages by any injured person, may be brought directly against the bond,
15 the insurer, or any other person providing evidence of financial respon-
16 sibility.
17 (B) ALL HOMEOWNERS' POLICIES OF INSURANCE IN THIS STATE WHICH SHALL
18 INSURE AGAINST DAMAGE TO PROPERTY SHALL CLEARLY PROVIDE THAT THE ATTEND-
19 ANT COSTS OF REMEDIATING THE CONSEQUENCES OF AN OIL SPILL OR LEAKAGE
20 FROM THE INSURED'S UNDERGROUND HEATING OIL TANK SHALL CONSTITUTE PROPER-
21 TY DAMAGE AND SHALL BE INSURABLE WITHIN THE MEANING OF THE GENERAL
22 LIABILITY PORTIONS OF SUCH INSURANCE POLICY AND THE RISK OF DAMAGES
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD13108-01-3
A. 8576 2
1 CAUSED BY SUCH OIL SPILLS MAY NOT BE AN EXCLUSION IN ANY SUCH POLICY
2 ISSUED IN THE STATE EXCEPT IF IT IS A NAMED PERILS ONLY POLICY.
3 (C) ALL HOMEOWNERS' POLICIES OF INSURANCE IN THIS STATE WHICH SHALL
4 INSURE AGAINST DAMAGE TO PROPERTY SHALL CLEARLY PROVIDE THAT THE ATTEND-
5 ANT COSTS OF REMEDIATING THE CONSEQUENCES OF AN OIL SPILL OR LEAKAGE
6 FROM THE INSURED'S HEATING OIL TANK WHICH IS NOT UNDERGROUND WHEN THE
7 DAMAGE IS NOT THE RESULT OF THE FAILURE OF THE HOMEOWNER TO REASONABLY
8 INSPECT OR TO HIRE SOMEONE TO REASONABLY INSPECT HIS OR HER OIL TANK
9 WHEN THE OPPORTUNITY TO DO SO EXISTS, SHALL CONSTITUTE PROPERTY DAMAGE
10 AND SHALL BE INSURABLE WITHIN THE MEANING OF THE GENERAL LIABILITY
11 PORTIONS OF SUCH INSURANCE POLICY AND THE RISK OF DAMAGES CAUSED BY SUCH
12 OIL SPILLS MAY NOT BE AN EXCLUSION IN ANY SUCH POLICY ISSUED IN THE
13 STATE EXCEPT IF IT IS A NAMED PERILS ONLY POLICY.
14 (D) NON-COMPLIANCE WITH THE PROVISIONS OF THIS SUBDIVISION REQUIRING
15 THE REASONABLE INSPECTION OF A RESIDENTIAL OIL TANK SHALL NOT BE ADMIS-
16 SIBLE AS EVIDENCE IN ANY CIVIL ACTION IN A COURT OF LAW IN REGARD TO THE
17 ISSUE OF LIABILITY BUT MAY BE INTRODUCED INTO EVIDENCE IN MITIGATION OF
18 DAMAGES PROVIDED THE PARTY INTRODUCING SAID EVIDENCE HAS PLEADED SUCH
19 NON-COMPLIANCE AS AN AFFIRMATIVE DEFENSE.
20 (E) NOTHING IN THIS SUBDIVISION SHALL BE CONSTRUED TO LIMIT ANY
21 PRE-EXISTING RIGHT, WHETHER ACTUAL OR IMPLIED, IN WHICH THE INSURED MAY
22 HAVE HAD COMPENSATION FROM THE INSURER FOR DAMAGE TO PROPERTY FROM AN
23 OIL SPILL OR LEAKAGE FROM AN UNDERGROUND HEATING OIL TANK AND THE
24 ATTENDANT COSTS OF REMEDIATING THE CONSEQUENCES OF SUCH OIL SPILL OR
25 LEAKAGE.
26 S 3. Subsections (yy) and (zz) of section 606 of the tax law, as
27 relettered by section 5 of part H of chapter 1 of the laws of 2003, are
28 relettered subsections (yyy) and (zzz) and a new subsection (xx) is
29 added to read as follows:
30 (XX) RESIDENTIAL FUEL OIL STORAGE TANK CREDIT. (1) A TAXPAYER SHALL BE
31 ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE IN AN AMOUNT
32 NOT TO EXCEED FIVE HUNDRED DOLLARS, FOR THE REMOVAL OF AN EXISTING
33 UNPROTECTED BURIED FUEL OIL TANK AND THE INSTALLATION OF A FIBERGLASS OR
34 FIBERGLASS LINED BURIED HEATING FUEL OIL STORAGE TANK, OR AN ABOVE
35 GROUND OR INTERIOR TANK, USED TO PROVIDE HEATING FUEL FOR A SINGLE FAMI-
36 LY HOME, WHICH MEETS THE REQUIREMENTS OF ARTICLE TWELVE OF THE NAVIGA-
37 TION LAW RELATING TO THE CONTAINMENT OF PETROLEUM.
38 (2) THE HOMEOWNER CREDIT DESCRIBED IN PARAGRAPH ONE OF THIS SUBSECTION
39 MAY ONLY BE TAKEN ONCE AND SHALL BE ALLOWED ONLY FOR A RESIDENT'S PRIMA-
40 RY DOMICILE.
41 S 4. This act shall take effect on the first of January next succeed-
42 ing the date on which it shall have become a law; provided, however,
43 that sections two and three of this act shall expire and be deemed
44 repealed two years after such effective date.
