Bill Text: NY S06750 | 2011-2012 | General Assembly | Introduced

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Bill Title: Establishes a tax credit for homeowners and businesses to build permeable surfaces.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2012-03-16 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S06750 Detail]

Download: New_York-2011-S06750-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6750
                                   I N  S E N A T E
                                    March 16, 2012
                                      ___________
       Introduced  by Sen. CARLUCCI -- 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  credits  against  tax  for
         homeowners and businesses to build permeable surfaces
         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 (uu) to read as follows:
    3    (UU) CREDIT FOR HOMEOWNERS AND BUSINESSES TO BUILD PERMEABLE SURFACES.
    4  (1)(A)  HOMEOWNERS  WHO  CONSTRUCT  A PERMEABLE SURFACE AS PART OF THEIR
    5  REAL PROPERTY, DURING THE TAXABLE YEAR, SHALL BE ELIGIBLE TO  RECEIVE  A
    6  TAX  CREDIT  FOR  UP  TO  FIFTY PERCENT OF THE COST OF CONSTRUCTION, NOT
    7  EXCEEDING FIVE THOUSAND DOLLARS.
    8    (B) FOR PURPOSES OF THIS SUBSECTION THE  FOLLOWING  DEFINITIONS  SHALL
    9  APPLY:
   10    (I)  HOMEOWNER  IS  DEFINED  AS  A  NEW  YORK  RESIDENT  FOR  THE PAST
   11  TWENTY-FOUR MONTHS AND WHO OWNS A SINGLE FAMILY OR MULTI-FAMILY DWELLING
   12  FOR RESIDENTIAL PURPOSES WITHIN NEW YORK STATE.
   13    (II) PERMEABLE SURFACE, SHALL MEAN ANY PERMEABLE  PAVING  THAT  ALLOWS
   14  THE  MOVEMENT  OF WATER AND AIR AROUND THE PAVING MATERIALS. A PERMEABLE
   15  SURFACE SHALL INCLUDE BUT NOT BE LIMITED TO:  SIDEWALKS,  DRIVEWAYS  AND
   16  PARKING LOTS.
   17    (2)(A)  BUSINESSES  WHO  CONSTRUCT  A PERMEABLE SURFACE ADJACENT TO OR
   18  WITHIN ONE THOUSAND FEET OF THE PROPERTY, DURING THE TAXABLE YEAR, SHALL
   19  BE ELIGIBLE TO RECEIVE A TAX CREDIT FOR UP TO FIFTY PERCENT OF THE  COST
   20  OF CONSTRUCTION, NOT EXCEEDING FIVE THOUSAND DOLLARS.
   21    (B)  FOR  PURPOSES  OF THIS SUBSECTION THE FOLLOWING DEFINITIONS SHALL
   22  APPLY:
   23    (I) BUSINESS SHALL MEAN ANY BUSINESS WHOSE PRINCIPAL PLACE OF BUSINESS
   24  IS LOCATED IN NEW YORK STATE, AND HAS BEEN LOCATED IN THE STATE FOR  THE
   25  PREVIOUS THIRTY-SIX MONTHS.
   26    (II)  PERMEABLE  SURFACE,  SHALL MEAN ANY PERMEABLE PAVING THAT ALLOWS
   27  THE MOVEMENT OF WATER AND AIR AROUND THE PAVING MATERIALS.  A  PERMEABLE
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD13873-03-2
       S. 6750                             2
    1  SURFACE  SHALL  INCLUDE  BUT NOT BE LIMITED TO: SIDEWALKS, DRIVEWAYS AND
    2  PARKING LOTS.
    3    S 2. This act shall take effect immediately and shall apply to taxable
    4  years commencing on and after such date.