A581-2011 Actions

• Jan 4, 2012: referred to ways and means
• Jan 5, 2011: referred to ways and means

A581-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                          581
 2011-2012 Regular Sessions
 I N  ASSEMBLY
 (PREFILED)
 January 5, 2011
 
 Introduced  by  M.  of  A.  WRIGHT, FARRELL, AUBRY, V. LOPEZ, O'DONNELL,
 GLICK, BING, HEVESI,  MILLMAN,  KAVANAGH,  BRENNAN,  TITONE,  KELLNER,
 ROSENTHAL,  JEFFRIES  --  Multi-Sponsored by -- M. of A. BROOK-KRASNY,
 COLTON, GOTTFRIED, LANCMAN, SPANO -- read once  and  referred  to  the
 Committee on Ways and Means
 

AN ACT to amend the tax law, in relation to providing a renter tax cred
 it
 

THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM
 BLY, DO ENACT AS FOLLOWS:

 

Section 1.

Section 1310 of the tax law is  amended  by  adding  a  new
 subsection (g) to read as follows:

 (G)  RENTER TAX CREDIT. (1) (A) NOTWITHSTANDING ANY OTHER PROVISION OF
 LAW TO THE CONTRARY, ANY CITY HAVING A  POPULATION  OF  ONE  MILLION  OR
 MORE,  ACTING  THROUGH  ITS LOCAL LEGISLATIVE BODY, IS HEREBY AUTHORIZED
 AND EMPOWERED TO ADOPT AND AMEND LOCAL LAWS GRANTING IN ANY  SUCH  CITY,
 FOR  TAXABLE  YEARS  BEGINNING ON OR AFTER TWO THOUSAND ELEVEN, A RENTER
 TAX CREDIT AGAINST THE  CITY  PERSONAL  INCOME  TAX  FOR  ANY  QUALIFIED
 TAXPAYER.  IF  ANY SUCH CREDIT EXCEEDS THE TAX FOR SUCH YEAR, SUCH LOCAL
 LAW MAY PROVIDE THAT SUCH QUALIFIED  TAXPAYER  RECEIVE,  AND  THE  COMP
 TROLLER,  SUBJECT  TO A CERTIFICATE OF THE COMMISSIONER, SHALL PAY AS AN
 OVERPAYMENT, WITHOUT INTEREST, ANY EXCESS BETWEEN SUCH TAX AS SO REDUCED
 AND THE AMOUNT OF THE CREDIT. IF A QUALIFIED TAXPAYER IS NOT REQUIRED TO
 FILE A RETURN PURSUANT TO A LOCAL LAW ENACTED PURSUANT TO THIS  ARTICLE,
 SUCH LOCAL LAW MAY PROVIDE THAT SUCH QUALIFIED TAXPAYER MAY NEVERTHELESS
 RECEIVE AND THE COMPTROLLER, SUBJECT TO A CERTIFICATE OF THE COMMISSION
 ER,  SHALL  PAY AS AN OVERPAYMENT THE FULL AMOUNT OF THE CREDIT, WITHOUT
 INTEREST. (B) ANY CREDIT PROVIDED BY A LOCAL  LAW  ADOPTED  PURSUANT  TO
 THIS SUBSECTION SHALL NOT EXCEED THREE HUNDRED DOLLARS.
 (2)  ONLY ONE CREDIT PER HOUSEHOLD AND PER QUALIFIED TAXPAYER SHALL BE
 ALLOWED PER TAXABLE YEAR UNDER THIS SUBSECTION. (A)  WHEN  TWO  OR  MORE
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD03172-01-1
 
       A. 581                              2
 MEMBERS  OF A HOUSEHOLD ARE ABLE TO MEET THE QUALIFICATIONS FOR A QUALI
 FIED TAXPAYER, THE CREDIT SHALL BE EQUALLY DIVIDED BETWEEN OR AMONG SUCH
 INDIVIDUALS UNLESS SUCH INDIVIDUALS FILE WITH  THE  NEW  YORK  CITY  TAX
 COMMISSION  A  WRITTEN  AGREEMENT AMONG SUCH INDIVIDUALS SETTING FORTH A
 DIFFERENT DIVISION.  (B) WHERE ANY RETURN REQUIRED TO BE FILED  PURSUANT
 TO  THE  PROVISIONS  OF  SECTION THIRTEEN HUNDRED SIX OF THIS ARTICLE IS
 COMBINED WITH ANY RETURN OF TAX IMPOSED PURSUANT  TO  THE  AUTHORITY  OF
 THIS CHAPTER OR ANY OTHER LAW IF SUCH TAX IS ADMINISTERED BY THE COMMIS
 SIONER,  THE  CREDIT OR THE PORTION OF THE CREDIT IF DIVIDED, ALLOWED TO
 THE QUALIFIED TAXPAYER MAY BE APPLIED BY  THE  COMMISSIONER  TOWARD  ANY
 LIABILITY FOR THE AFOREMENTIONED TAXES.
 (3) FOR PURPOSES OF ANY LOCAL LAW ADOPTED PURSUANT TO THIS SUBSECTION:

 (A)  "DEPENDENT"  MEANS AN INDIVIDUAL DESCRIBED IN SECTION ONE HUNDRED
 FIFTY-TWO OF THE INTERNAL REVENUE CODE.
 (B) "QUALIFIED TAXPAYER" MEANS A RESIDENT INDIVIDUAL OF  THE  CITY  OF
 NEW  YORK  (I) WHO HAS OCCUPIED THE SAME QUALIFIED RESIDENCE AS A RENTER
 OR LESSEE FOR SIX MONTHS OR MORE  DURING  THE  TAXABLE  YEAR,  (II)  HAS
 ATTAINED  THE  AGE  OF EIGHTEEN, AND (III) WHO IS REQUIRED OR CHOOSES TO
 FILE A RETURN UNDER THIS ARTICLE.
 (C) "HOUSEHOLD" OR  "MEMBERS  OF  THE  HOUSEHOLD"  MEANS  A  QUALIFIED
 TAXPAYER  AND  ALL  OTHER PERSONS, NOT NECESSARILY RELATED, WHO HAVE THE
 SAME QUALIFIED RESIDENCE  AND  SHARE  ITS  FURNISHINGS,  FACILITIES  AND
 ACCOMMODATIONS.  SUCH TERMS SHALL INCLUDE A DOMESTIC PARTNER, AS DEFINED
 IN SECTION TWENTY-EIGHT HUNDRED FIVE-Q OF THE  PUBLIC  HEALTH  LAW,  BUT
 SHALL  NOT  INCLUDE  A  TENANT,  SUBTENANT, ROOMER OR BOARDER WHO IS NOT
 RELATED TO THE QUALIFIED TAXPAYER IN ANY DEGREE SPECIFIED IN  PARAGRAPHS
 ONE  THROUGH EIGHT OF SUBSECTION (A) OF SECTION ONE HUNDRED FIFTY-TWO OF
 THE INTERNAL REVENUE CODE. PROVIDED, HOWEVER, NO PERSON MAY BE A  MEMBER
 OF MORE THAN ONE HOUSEHOLD AT ONE TIME.
 (D)  "HOUSEHOLD  GROSS INCOME" MEANS THE NEW YORK STATE ADJUSTED GROSS
 INCOME OF ALL MEMBERS OF THE HOUSEHOLD FOR THE TAXABLE  YEAR.  HOUSEHOLD
 GROSS  INCOME SHALL ONLY INCLUDE ALL SUCH INCOME RECEIVED BY ALL MEMBERS
 OF THE HOUSEHOLD WHILE MEMBERS OF SUCH HOUSEHOLD.
 (E) "QUALIFIED RESIDENCE" MEANS A DWELLING IN THE CITY  OF  NEW  YORK,
 WHICH IS RENTED OR LEASED, AND MAY CONSIST OF A PART OF A MULTI-DWELLING
 OR  MULTI-PURPOSE  BUILDING  INCLUDING A COOPERATIVE OR CONDOMINIUM, AND
 RENTAL UNITS WITHIN A SINGLE  DWELLING,  PROVIDED,  HOWEVER,  THAT  SUCH
 DWELLING,  OR  BUILDING  OF WHICH SUCH DWELLING IS A PART, IS SUBJECT TO
 THE REAL PROPERTY TAX.  QUALIFIED RESIDENCE INCLUDES A TRAILER OR MOBILE
 HOME WHICH IS RENTED AND  USED  EXCLUSIVELY  FOR  RESIDENTIAL  PURPOSES,
 WHICH  IS DEFINED AS REAL PROPERTY PURSUANT TO PARAGRAPH (G) OF SUBDIVI
 SION TWELVE OF SECTION ONE HUNDRED TWO OF THE REAL PROPERTY TAX LAW, AND
 WHICH IS SUBJECT TO THE REAL PROPERTY  TAX.  QUALIFIED  RESIDENCE  SHALL
 ALSO INCLUDE A DWELLING OWNED BY A HOUSING COMPANY ORGANIZED AND OPERAT
 ING PURSUANT TO THE PROVISIONS OF ARTICLES TWO, FOUR, FIVE AND ELEVEN OF
 THE PRIVATE HOUSING FINANCE LAW.
 (F)  "RESIDENT  INDIVIDUAL" MEANS AN INDIVIDUAL WHO IS A MEMBER OF THE
 HOUSEHOLD AND CANNOT BE CLAIMED AS A PERSONAL EXEMPTION ON ANOTHER INDI
 VIDUAL'S INCOME TAX RETURN DURING THE TAXABLE YEAR.
 (4) NO CREDIT SHALL BE GRANTED UNDER THIS SUBSECTION:

 (A) IF HOUSEHOLD GROSS INCOME, IN THE CASE OF A  RESIDENT  INDIVIDUAL,
 EXCEEDS FORTY-THREE THOUSAND DOLLARS.
 (B)  IF  HOUSEHOLD  GROSS  INCOME, IN THE CASE OF TWO OR MORE RESIDENT
 INDIVIDUALS, OR IN THE  CASE  OF  ONE  RESIDENT  INDIVIDUAL  HAVING  ONE
 DEPENDENT, EXCEEDS FIFTY-FOUR THOUSAND DOLLARS.
 
       A. 581                              3
 (C)  IF  HOUSEHOLD  GROSS  INCOME, IN THE CASE OF TWO OR MORE RESIDENT
 INDIVIDUALS HAVING ONE DEPENDENT, OR IN THE CASE OF ONE  RESIDENT  INDI
 VIDUAL HAVING TWO DEPENDENTS, EXCEEDS SIXTY-FIVE THOUSAND DOLLARS.
 (D)  IF  HOUSEHOLD  GROSS  INCOME, IN THE CASE OF TWO OR MORE RESIDENT
 INDIVIDUALS HAVING TWO OR MORE DEPENDENTS, OR IN THE CASE OF  ONE  RESI
 DENT  INDIVIDUAL  HAVING  THREE OR MORE DEPENDENTS, EXCEEDS SEVENTY-FIVE
 THOUSAND DOLLARS.
 (E) TO AN INDIVIDUAL WITH RESPECT TO WHOM A DEDUCTION UNDER SUBSECTION
 (C) OF SECTION ONE HUNDRED FIFTY-ONE OF THE  INTERNAL  REVENUE  CODE  IS
 ALLOWABLE TO ANOTHER TAXPAYER FOR THE TAXABLE YEAR.
 (F)  TO AN INDIVIDUAL WHO IS NOT A RESIDENT INDIVIDUAL OF THE CITY FOR
 THE ENTIRE TAXABLE YEAR.
 (G) FOR PURPOSES OF THIS PARAGRAPH, BEGINNING ON  JANUARY  FIRST,  TWO
 THOUSAND  TEN,  HOUSEHOLD  GROSS  INCOME  SHALL BE ADJUSTED ANNUALLY, ON
 JANUARY FIRST, BY THE PERCENTAGE CHANGE IN  THE  AVERAGE  COST-OF-LIVING
 INDEX  IN  THE PERIOD JANUARY FIRST THROUGH DECEMBER THIRTY-FIRST OF THE
 IMMEDIATE PRIOR YEAR COMPARED WITH THE SAME PERIOD FOR THE YEAR PRIOR TO
 THAT. FOR PURPOSES OF THIS SUBPARAGRAPH, THE "COST-OF-LIVING  INDEX"  IS
 THE  AVERAGE  OF THE MONTHLY CONSUMER-PRICE-INDEX FIGURES FOR THE STATED
 TWELVE-MONTH PERIOD, RELATIVE TO THE UNITED STATES AS A WHOLE, ISSUED BY
 THE UNITED STATES DEPARTMENT OF LABOR.
 (5) IF A QUALIFIED TAXPAYER IS NOT REQUIRED TO FILE A RETURN  PURSUANT
 TO  SECTION  THIRTEEN  HUNDRED SIX OF THIS ARTICLE, A CLAIM FOR A CREDIT
 MAY BE TAKEN ON A RETURN FILED WITH THE COMMISSIONER WITHIN THREE  YEARS
 FROM  THE TIME IT WOULD HAVE BEEN REQUIRED THAT A RETURN BE FILED PURSU
 ANT TO SUCH SECTION HAD THE QUALIFIED TAXPAYER HAD A TAXABLE YEAR ENDING
 ON DECEMBER THIRTY-FIRST. RETURNS UNDER THIS PARAGRAPH SHALL BE IN  SUCH
 FORM AS SHALL BE PRESCRIBED BY THE COMMISSIONER, WHICH SHALL MAKE AVAIL
 ABLE SUCH FORMS AND INSTRUCTIONS FOR FILING SUCH RETURNS.
 (6)  THE  COMMISSIONER MAY REQUIRE A QUALIFIED TAXPAYER TO FURNISH THE
 FOLLOWING INFORMATION IN SUPPORT OF HIS OR HER CLAIM  FOR  CREDIT  UNDER
 THIS  SUBSECTION: HOUSEHOLD GROSS INCOME, RENT PAID, NAME AND ADDRESS OF
 OWNER OR MANAGING AGENT OF THE PROPERTY RENTED, THE NAMES OF MEMBERS  OF
 THE  HOUSEHOLD  AND  OTHER QUALIFYING TAXPAYERS OCCUPYING THE SAME RESI
 DENCE AND THEIR IDENTIFYING NUMBERS INCLUDING SOCIAL  SECURITY  NUMBERS,
 HOUSEHOLD GROSS INCOME, SIZE AND NATURE OF PROPERTY CLAIMED AS RESIDENCE
 AND  ALL  OTHER INFORMATION WHICH MAY BE REQUIRED BY THE COMMISSIONER TO
 DETERMINE THE CREDIT.
 (7) THE PROVISIONS OF ARTICLE TWENTY-TWO OF  THIS  CHAPTER,  INCLUDING
 THE   PROVISIONS   OF  SECTION  SIX  HUNDRED  FIFTY-THREE,  SIX  HUNDRED
 FIFTY-EIGHT AND SIX HUNDRED FIFTY-NINE AND THE PROVISIONS OF PART SIX OF
 SUCH ARTICLE RELATING TO PROCEDURE  AND  ADMINISTRATION,  INCLUDING  THE
 JUDICIAL  REVIEW OF THE DECISIONS OF THE TAX APPEALS TRIBUNAL, EXCEPT SO
 MUCH OF SECTION SIX HUNDRED EIGHTY-SEVEN OF SUCH ARTICLE WHICH PERMITS A
 CLAIM FOR CREDIT OR REFUND TO BE FILED AFTER THE PERIOD PROVIDED FOR  IN
 PARAGRAPH  FIVE  OF  THIS  SUBSECTION  AND  EXCEPT  SECTIONS SIX HUNDRED
 FIFTY-SEVEN, SIX HUNDRED EIGHTY-EIGHT AND SIX HUNDRED NINETY-SIX OF SUCH
 ARTICLE, SHALL APPLY TO THE PROVISIONS OF THIS SUBSECTION  IN  THE  SAME
 MANNER  AND  WITH  THE SAME FORCE AND EFFECT AS IF THE LANGUAGE OF THOSE
 PROVISIONS HAD BEEN INCORPORATED IN FULL INTO THIS  SUBSECTION  AND  HAD
 EXPRESSLY  REFERRED  TO  THE  CREDIT ALLOWED OR RETURNS FILED UNDER THIS
 SUBSECTION, EXCEPT TO THE EXTENT  THAT  ANY  SUCH  PROVISION  IS  EITHER
 INCONSISTENT  WITH  A PROVISION OF THIS SUBSECTION OR IS NOT RELEVANT TO
 THIS SUBSECTION. AS USED IN  SUCH  SECTIONS  AND  SUCH  PART,  THE  TERM
 "TAXPAYER" SHALL INCLUDE A QUALIFIED TAXPAYER UNDER THIS SUBSECTION AND,
 NOTWITHSTANDING  THE PROVISIONS OF SUBSECTION (E) OF SECTION SIX HUNDRED
 
       A. 581                              4
 NINETY-SEVEN OF THIS CHAPTER, WHERE A QUALIFIED TAXPAYER  HAS  PROTESTED
 THE  DENIAL  OF A CLAIM FOR CREDIT UNDER THIS SUBSECTION AND THE TIME TO
 FILE A PETITION FOR REDETERMINATION OF A DEFICIENCY OR  FOR  REFUND  HAS
 NOT  EXPIRED,  HE OR SHE SHALL, SUBJECT TO SUCH CONDITIONS AS MAY BE SET
 BY THE COMMISSIONER, RECEIVE SUCH INFORMATION (A) WHICH IS CONTAINED  IN
 ANY  RETURN FILED UNDER THIS ARTICLE BY A MEMBER OF HIS OR HER HOUSEHOLD
 FOR THE TAXABLE YEAR FOR WHICH THE CREDIT IS CLAIMED, AND (B) WHICH  THE
 COMMISSIONER FINDS IS RELEVANT AND MATERIAL TO THE ISSUE OF WHETHER SUCH
 CLAIM  WAS PROPERLY DENIED. THE COMMISSIONER SHALL HAVE THE AUTHORITY TO
 PROMULGATE SUCH RULES AND REGULATIONS AS MAY BE NECESSARY FOR THE  PROC
 ESSING,  DETERMINATION  AND  GRANTING  OF CREDITS AND REFUNDS UNDER THIS
 SUBSECTION.
 (8) NOTWITHSTANDING ANY OTHER PROVISION OF THIS  ARTICLE,  THE  CREDIT
 ALLOWED BY A LOCAL LAW ENACTED UNDER THIS SUBSECTION SHALL BE DETERMINED
 AFTER  THE  DETERMINATION AND APPLICATION OF ANY OTHER CREDITS PERMITTED
 UNDER THE PROVISIONS OF THIS ARTICLE.
 (9) A LOCAL LAW ENACTED PURSUANT TO THIS SUBSECTION SHALL BE  APPLICA
 BLE  WITH  RESPECT TO ANY TAXABLE YEAR ONLY IF IT HAS BEEN ENACTED ON OR
 BEFORE JULY THIRTY-FIRST OF SUCH YEAR. A CERTIFIED COPY  OF  SUCH  LOCAL
 LAW  SHALL BE MAILED BY REGISTERED MAIL TO THE STATE DEPARTMENT OF TAXA
 TION AND FINANCE AT ITS OFFICE IN ALBANY  WITHIN  FIFTEEN  DAYS  OF  ITS
 ENACTMENT.  HOWEVER,  THE  STATE  DEPARTMENT OF TAXATION AND FINANCE MAY
 ALLOW ADDITIONAL TIME FOR SUCH CERTIFIED COPY TO BE MAILED IF  IT  DEEMS
 SUCH ACTION TO BE CONSISTENT WITH ITS DUTIES UNDER THIS ARTICLE.
 

S 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2011.

*By contributing or voting you agree to the Terms of Participation and Privacy Policy and verify you are over 13.

Discuss!