Bill Text: NY A03806 | 2019-2020 | General Assembly | 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 6-0)
Status: (Introduced - Dead) 2020-01-08 - referred to ways and means [A03806 Detail]
Download: New_York-2019-A03806-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 3806 2019-2020 Regular Sessions IN ASSEMBLY January 31, 2019 ___________ Introduced by M. of A. McDONOUGH, HAWLEY, RAIA, MORINELLO, BRABENEC -- Multi-Sponsored by -- M. of A. CROUCH -- 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 6 to read as follows: 3 (6) 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 §2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01708-01-9
