Bill Text: NY S05302 | 2021-2022 | General Assembly | Introduced

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Bill Title: Relates to establishing a tree removal and emerald ash elimination credit.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO BUDGET AND REVENUE [S05302 Detail]

Download: New_York-2021-S05302-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5302

                               2021-2022 Regular Sessions

                    IN SENATE

                                      March 1, 2021
                                       ___________

        Introduced  by  Sen. KENNEDY -- read twice and ordered printed, and when
          printed to be committed to the Committee on Budget and Revenue

        AN ACT to amend the tax law, in relation to establishing a tree  removal
          and emerald ash elimination credit

          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 (kkk) to read as follows:
     3    (kkk)  Tree  removal  and emerald ash elimination credit. (1) General.
     4  An individual taxpayer shall be  allowed  a  credit  for  taxable  years
     5  beginning on or after January first, two thousand twenty-two against the
     6  tax  imposed by this article for the costs of removal of a tree infested
     7  with the emerald ash borer (Agurilus planipennis), when such removal  is
     8  recommended  by  a certified arborist or forester for the lone reason of
     9  hosting an emerald ash borer infection. The amount of the  credit  shall
    10  be  the lesser of three hundred dollars per tree or fifty percent of the
    11  total cost of removal per tree.
    12    (2) Tax credit. An individual taxpayer shall be allowed a  credit  for
    13  taxable  years beginning on or after January first, two thousand twenty-
    14  two against the tax imposed by this article  for  the  costs  associated
    15  with  insecticide injection treatments to a tree infected with the emer-
    16  ald ash borer. The amount of the credit  shall  be  the  lesser  of  one
    17  hundred dollars per tree or fifty percent of the total cost of treatment
    18  per tree.
    19    (3)  Tree  removal  and  emerald  ash  elimination costs. (A) The term
    20  "costs of removal" includes the cost of an assessment from  an  arborist
    21  or  forester,  any initial appraisals of the tree or trees, municipal or
    22  otherwise, labor costs of removing the tree, any disposal fees, and  any
    23  cleanup  fees;  except  any  state  or local sales tax applicable to the
    24  services performed.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07290-01-1
        S. 5302                             2

     1    (B) The term "costs associated with insecticide injection  treatments"
     2  includes  the  costs  of an assessment from an arborist or forester, any
     3  initial appraisals of the tree or trees, municipal or  otherwise,  costs
     4  of  application services of the treatment or treatments, and any follow-
     5  up  fees; except any state or local sales tax applicable to the services
     6  performed.
     7    (4) Amount of credit. The aggregate  amount  of  tax  credits  allowed
     8  under  this  subsection  in  any  calendar  year  statewide shall be ten
     9  million dollars.
    10    (5) Tree removal and emerald ash elimination for qualified  taxpayers.
    11  A  property  owner  who  incurs  costs  for  removing  or  treating with
    12  injections a tree or trees as in  this  section,  must  be  removing  or
    13  injecting  the  tree  from  residential  property or mixed-use property,
    14  which is:
    15    (A) located in this state;
    16    (B) owned by the taxpayer; and
    17    (C) used by the taxpayer as his or her principal residence,  secondary
    18  residence, or rental property.
    19    (6)  When  credit  allowed. The credit provided for in this subsection
    20  shall be allowed with respect to  the  taxable  year,  commencing  after
    21  January  first,  two  thousand  twenty-two  in which the removal work is
    22  completed and paid for.
    23    (7) Carryover of credit. If the amount of the credit,  and  carryovers
    24  of  such  credit,  allowable  under this subsection for any taxable year
    25  shall exceed the taxpayer's tax for such year, such excess amount may be
    26  carried over to the five taxable years next following the  taxable  year
    27  with respect to which the credit is allowed and may be deducted from the
    28  taxpayer's tax for such year or years.
    29    § 2. This act shall take effect on the one hundred eightieth day after
    30  it  shall have become a law. Effective immediately, the addition, amend-
    31  ment and/or repeal of any rule or regulation necessary for the implemen-
    32  tation of this act on its effective date are authorized to be  made  and
    33  completed on or before such effective date.