Bill Text: NY A03014 | 2013-2014 | General Assembly | Introduced

New York Assembly Bill 3014 (Prior Session Legislation)

Introduced

Bill Title: Relates to modifications increasing federalized itemized deductions for removing underground home heating oil storage tanks; such deduction shall be limited to one thousand dollars in any one year.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2014-01-08 - referred to ways and means [A03014 Detail]

Download: New_York-2013-A03014-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3014
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 23, 2013
                                      ___________
       Introduced  by  M. of A. McDONOUGH, STEVENSON, HAWLEY, LOSQUADRO -- read
         once and referred to the Committee 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
         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  ABOVEGROUND  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    S2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02110-01-3