Bill Text: NY A03460 | 2023-2024 | General Assembly | Introduced

New York Assembly Bill 3460

Introduced

Bill Title: Authorizes a personal income tax deduction for expenses paid during the taxable year by a qualified taxpayer attributable to the cost of residential heating, including, but not limited to amounts paid for fuel oil, coal, wood, propane, natural gas, electricity, steam, kerosene and any other fuel used to heat such taxpayer's primary residence.

Spectrum: Bipartisan Bill

Status: (Introduced) 2024-01-03 - referred to ways and means [A03460 Detail]

Download: New_York-2023-A03460-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          3460

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    February 3, 2023
                                       ___________

        Introduced  by  M.  of  A. SANTABARBARA -- read once and referred to the
          Committee on Ways and Means

        AN ACT to amend the tax law,  in  relation  to  authorizing  a  personal
          income tax deduction for home heating expenses

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Subsection (c) of section 612 of the tax law is amended  by
     2  adding a new paragraph 47 to read as follows:
     3    (47) (A) Expenses paid during the taxable year by a qualified taxpayer
     4  attributable  to  the  cost  of  residential heating, including, but not
     5  limited to amounts paid for fuel oil, coal, wood, propane, natural  gas,
     6  electricity,  steam,  kerosene  and  any  other  fuel  used to heat such
     7  taxpayer's primary residence.
     8    (B) For the purposes of this  paragraph,  "qualified  taxpayer"  shall
     9  mean  a  resident  individual  of  the  state, who maintained his or her
    10  primary residence in this state on December thirty-first of the  taxable
    11  year,  and who was: (i) an owner of such property on such date or (ii) a
    12  renter of such property on such date who was responsible for paying  for
    13  the cost of heating such property.
    14    § 2. This act shall take effect immediately and shall apply to taxable
    15  years  commencing  on or after the first of January in the year in which
    16  it shall have become a law.




         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07316-01-3