Bill Text: NY A06271 | 2017-2018 | General Assembly | Introduced
Bill Title: Provides for a tax credit against personal income tax of $1000 for each homeless person, aged 62 years or older, that the taxpayer provides shelter to the taxpayer's home; the taxpayer must also provide room and board for not less than one year to receive the credit.
Spectrum: Partisan Bill (Democrat 9-0)
Status: (Introduced - Dead) 2018-01-03 - referred to ways and means [A06271 Detail]
Download: New_York-2017-A06271-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 6271 2017-2018 Regular Sessions IN ASSEMBLY March 1, 2017 ___________ Introduced by M. of A. ENGLEBRIGHT, TITONE, CAHILL, RIVERA, BENEDETTO -- Multi-Sponsored by -- M. of A. AUBRY, COOK, PEOPLES-STOKES, PERRY -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to providing for a credit against personal income tax for sheltering a homeless person sixty-two years of age or older 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 (o-1) to read as follows: 3 (o-1) Sheltering homeless person credit. (1) For taxable years begin- 4 ning on or after two thousand seventeen, a taxpayer shall be allowed a 5 credit, to be credited against the tax imposed by this article, after 6 allowance of any other credit provided under this section and any cred- 7 its permitted under sections six hundred twenty, six hundred twenty-one 8 and six hundred thirty-five of this article. The amount of the credit 9 shall be one thousand dollars for each homeless person sixty-two years 10 of age or older whom the taxpayer shelters in his or her home, providing 11 room and board, during the taxable year, provided that such homeless 12 person shall have been sheltered by the taxpayer for not less than one 13 year. 14 (2) In no event shall the amount of the credit provided for in this 15 subsection be allowed in excess of the taxpayer's tax for such year. 16 However, if the amount of credit otherwise allowable under this 17 subsection for any taxable year results in such excess amount, any 18 amount of credit not deductible in such taxable year may be carried over 19 to the following year or years and may be deducted from the taxpayer's 20 tax for such year or years. 21 (3) For purposes of this subsection, "homeless person" shall have the 22 meaning prescribed in subdivision two of section forty-two of the social 23 services law, provided that such person is sixty-two years of age or 24 older. 25 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD03645-01-7
