Bill Text: NY S01395 | 2019-2020 | General Assembly | Introduced


Bill Title: Establishes a senior citizen utility circuit breaker personal income tax credit.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S01395 Detail]

Download: New_York-2019-S01395-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          1395
                               2019-2020 Regular Sessions
                    IN SENATE
                                    January 14, 2019
                                       ___________
        Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
          printed to be committed to the Committee on Investigations and Govern-
          ment Operations
        AN ACT to amend the tax law, in relation to establishing a senior utili-
          ty circuit breaker personal income 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) Senior utility circuit breaker tax credit. (1) Definitions.  For
     4  the purposes of this subsection:
     5    (A) "Qualified taxpayer" means a resident individual, married or  head
     6  of household taxpayer who is over sixty-five years of age, with a house-
     7  hold gross income of one hundred fifty thousand dollars or less.
     8    (B)  "Household"  or  "members  of  the  household"  means a qualified
     9  taxpayer and all other persons, not necessarily related,  who  have  the
    10  same residence and share its furnishings, facilities and accommodations.
    11  Such  terms shall not include a tenant, subtenant, roomer or boarder who
    12  is not related to the qualified taxpayer  in  any  degree  specified  in
    13  paragraphs  one  through  eight of subsection (a) of section one hundred
    14  fifty-two of the internal revenue code. Provided, however, no person may
    15  be a member of more than one household at one time.
    16    (C) "Household gross income" means the aggregate adjusted gross income
    17  of all members of the household for the taxable  year  as  reported  for
    18  federal  income  tax  purposes,  or  which would be reported as adjusted
    19  gross income if a federal income tax return were required to  be  filed,
    20  with  the  modifications in subsection (b) of section six hundred twelve
    21  of this article but without the modifications in subsection (c) of  such
    22  section, plus any portion of the gain from the sale or exchange of prop-
    23  erty  otherwise  excluded  from  such amount; earned income from sources
    24  without the United  States  excludable  from  federal  gross  income  by
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06421-01-9

        S. 1395                             2
     1  section  nine hundred eleven of the internal revenue code; support money
     2  not included in  adjusted  gross  income;  nontaxable  strike  benefits;
     3  supplemental  security  income payments; the gross amount of any pension
     4  or  annuity  benefits  to the extent not included in such adjusted gross
     5  income (including, but not limited to, railroad retirement benefits  and
     6  all  payments  received under the federal social security act and veter-
     7  ans' disability pensions); nontaxable interest received from  the  state
     8  of  New  York,  its agencies, instrumentalities, public corporations, or
     9  political subdivisions (including a public corporation created  pursuant
    10  to  agreement or compact with another state or Canada); workers' compen-
    11  sation; the gross amount of "loss-of-time" insurance; and the amount  of
    12  cash public assistance and relief, other than medical assistance for the
    13  needy,  paid  to or for the benefit of the qualified taxpayer or members
    14  of his household. Household gross income shall not include surplus foods
    15  or other relief in kind or payments made to individuals because of their
    16  status as victims of  Nazi  persecution  as  defined  in  P.L.  103-286.
    17  Provided,  further,  household  gross income shall only include all such
    18  income received by all members of the household while  members  of  such
    19  household.
    20    (D) "Residence" means a dwelling in this state, whether owned or rent-
    21  ed.
    22    (E)  "Eligible  expenses"  means payments made by a qualified taxpayer
    23  for the following goods and services delivered and used at  his  or  her
    24  primary residence:
    25    (i)  residential  gas,  electric  and  steam  utility service which is
    26  subject to the provisions of article two of the public service law;
    27    (ii) residential water and sewer service;
    28    (iii) home heating fuel, which shall include  fuel  oil,  coal,  wood,
    29  propane,  natural  gas,  electricity, steam, kerosene and any other fuel
    30  when used for residential heating purposes; and
    31    (iv) telecommunications services as defined in paragraph (g) of subdi-
    32  vision one of section one hundred  eighty-six-e  of  this  chapter,  and
    33  shall  not include wireless communications service, as defined by subdi-
    34  vision ten of section three hundred one of the county law,  unless  such
    35  wireless  service  is  the  only  means  by which the qualified taxpayer
    36  receives telephonic services.
    37    (2) Computation of credit. For taxable years beginning  on  and  after
    38  January  first,  two  thousand  nineteen,  a qualified taxpayer shall be
    39  allowed a credit, to be credited against the tax imposed by  this  arti-
    40  cle. The amount of the credit shall be one-half of all eligible expenses
    41  paid  by the qualified taxpayer to the extent such expenses exceed seven
    42  percent of the qualified taxpayer's household gross income. Such  credit
    43  shall  be  reduced by the amount of any moneys received by the qualified
    44  taxpayer pursuant to  the  low-income  home  energy  assistance  program
    45  established pursuant to section ninety-seven of the social services law.
    46    (3)  Overpayment.  If  the  amount  of  the  credit allowed under this
    47  subsection for any taxable year shall exceed  the  qualified  taxpayer's
    48  tax  for such year, the excess shall be treated as an overpayment of tax
    49  to be credited or refunded in accordance with section six hundred eight-
    50  y-six of this article, provided, however, that no interest shall be paid
    51  thereon.
    52    § 2. This act shall take effect immediately.
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