Bill Text: NY S04767 | 2019-2020 | General Assembly | Introduced

Bill Title: Relates to creating a tax credit for taxpayers who purchase and install a water filtration or purification system in their residence or business.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2019-03-25 - REFERRED TO BUDGET AND REVENUE [S04767 Detail]

Download: New_York-2019-S04767-Introduced.html

                STATE OF NEW YORK
                               2019-2020 Regular Sessions
                    IN SENATE
                                     March 25, 2019
        Introduced  by  Sen.  JORDAN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Budget and Revenue
        AN ACT to amend the tax law, in relation to creating a  tax  credit  for
          households  or businesses that install a water purification or filtra-
          tion system
          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) Water filtration or purification tax credit. (1) A taxpayer  who
     4  purchases  and  installs  a  water  purification or filtration system in
     5  their residence and/or  business,  if  such  residence  or  business  is
     6  located  within  this  state,  shall be allowed a credit against the tax
     7  otherwise imposed under this article in an amount equal to five  hundred
     8  dollars.
     9    (2)  A taxpayer may claim one credit pursuant to paragraph one of this
    10  subsection for  each  residence  or  business  for  which  the  taxpayer
    11  purchases and installs a new water purification or filtration system.
    12    (3)  For  purposes of this subsection a "water purification or filtra-
    13  tion system" shall mean a system that removes impurities from  water  by
    14  means  of  a  fine  physical barrier, a chemical process or a biological
    15  process that was installed by a professional.
    16    § 2. This act shall take effect immediately and shall apply to taxable
    17  years beginning on or after January 1, 2019.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.