STATE OF NEW YORK ________________________________________________________________________ 2342 2017-2018 Regular Sessions IN SENATE January 13, 2017 ___________ Introduced by Sen. ALCANTARA -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to establishing a tax credit for personal property replacement as a result of bedbug infestation 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 (ccc) to read as follows: 3 (ccc) Personal property replacement credit. (1) General. An individual 4 taxpayer shall be allowed a credit against the tax imposed by this arti- 5 cle equal to fifteen percent of qualified personal property replacement 6 expenditures, and not to exceed seven hundred fifty dollars. 7 (2) Qualified personal property replacement expenditures. (A) The term 8 "qualified personal property replacement expenditures" means expendi- 9 tures made for the replacement of personal property due to bedbug 10 damage. 11 (B) Such qualified expenditures shall include but not be limited to 12 furniture, rugs or other home goods that may be damaged by bedbug infes- 13 tation. 14 (C) Such qualified personal property replacement expenditures shall 15 not include interest or other finance charges. 16 (3) Certification for credit allowance. The commissioner shall deter- 17 mine the procedure for certification for the credit authorized pursuant 18 to this subsection. 19 § 2. This act shall take effect immediately and shall apply to taxable 20 years beginning on and after the first of January next succeeding the 21 date on which it shall have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD04939-01-7