S5058A-2011 Actions

• Jan 11, 2012: PRINT NUMBER 5058A
• Jan 11, 2012: AMEND AND RECOMMIT TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
• Jan 4, 2012: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
• May 3, 2011: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

S5058A-2011 Memo

BILL NUMBER:S5058A

TITLE OF BILL:
An act
to amend the tax law, in relation to creating a disabled person retrofit
tax credit

PURPOSE:
To provide an incentive for owners of residential buildings to retrofit
homes for access to the disabled.

SUMMARY OF PROVISIONS:
Section One of the bill amends Section 606 of the tax law to allow a
taxpayer a tax credit to be equal to thirty percent, with a maximum of
$5,000 dollars, of the cost of expenditures for retrofitting a home for
disabled access. Qualified improvements include:

* A no-step entrance or entrance allowing access to the residence;

* Interior passage doors providing at least thirty-two in wide opening;

* Reinforcements in bathroom walls allowing installation of grab bars
around the toilet, tub and shower; and

* Light switches and outlets placed in locations accessible to disabled
persons

EXISTING LAW:
New legislation

JUSTIFICATION:
Many homeowners discover that retrotfitting homes to allow better access
for the disabled cost prohibitive and be deterred from making the
improvements. This legislation would provide a tax credit that is equal
to thirty percent of the cost expenditures, up to $5,000 for making
qualified improvements.

LEGISLATIVE HISTORY:
To be determined.

FISCAL IMPLICATIONS:
To be determined.

EFFECTIVE DATE:
This act shall take effect immediately and shall be deemed to have been
in full force and effect on January 1, 2011; provided further, this act
shall apply to all tax years commencing on or after January 1, 2011

S5058A-2011 Text

                      S T A T E   O F   N E W   Y O R K
  ________________________________________________________________________

                                   5058--A

                         2011-2012 Regular Sessions

                              I N  SENATE

                                 May 3, 2011
                                 ___________

  Introduced  by  Sen.  DUANE  -- read twice and ordered printed, and when
    printed to be committed to the Committee on Investigations and Govern-
    ment Operations -- recommitted to the Committee on Investigations  and
    Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
    committee discharged, bill amended, ordered reprinted as  amended  and
    recommitted to said committee

  AN  ACT  to amend the tax law, in relation to creating a disabled person
    retrofit tax credit

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


    Section  1.  Section  606  of  the  tax law is amended by adding a new
  subsection (aaa) to read as follows:

    (AAA) DISABLED PERSON RETROFIT  TAX  CREDIT.  (1)  FOR  TAXABLE  YEARS
  BEGINNING  ON  OR  AFTER  JANUARY FIRST, TWO THOUSAND TWELVE, A TAXPAYER
  SHALL BE ALLOWED A CREDIT,  TO  BE  COMPUTED  AS  HEREINAFTER  PROVIDED,
  AGAINST  THE TAX IMPOSED BY THIS ARTICLE. THE AMOUNT OF THE CREDIT SHALL
  BE EQUAL TO THIRTY PERCENT OF THE COST OF THE EXPENDITURES MADE  BY  THE
  TAXPAYER WITH RESPECT TO THE INSTALLATION OF QUALIFIED IMPROVEMENTS AT A
  DWELLING  OCCUPIED  BY  THE TAXPAYER AS HIS OR HER PRIMARY RESIDENCE AND
  MAY BE ALLOWED IN THE TAXABLE YEAR IN WHICH THE EXPENDITURE IS INCURRED;
  PROVIDED THAT THE LIFETIME CREDIT ALLOWABLE WITH REGARD TO  EXPENDITURES
  FOR  THE INSTALLATION OF QUALIFIED IMPROVEMENTS AT A PARTICULAR DWELLING
  BY ANY TAXPAYER SHALL NOT EXCEED FIVE THOUSAND DOLLARS IN THE  AGGREGATE
  FOR  IMPROVEMENTS  MADE  TO  THAT DWELLING. SUBJECT TO THE PROVISIONS OF
  THIS SUBSECTION, A TAXPAYER SHALL BE ALLOWED A  CREDIT,  NOT  TO  EXCEED
  FIVE  THOUSAND  DOLLARS  IN  THE  AGGREGATE,  FOR EACH DWELLING THAT THE
  TAXPAYER OCCUPIES AS HIS OR HER  PRIMARY  RESIDENCE  AND  AT  WHICH  THE
  TAXPAYER INSTALLS QUALIFIED IMPROVEMENTS.
    (2)  AS  USED  IN  THIS  SUBSECTION "QUALIFIED IMPROVEMENTS" MEANS THE
  INSTALLATION OF:


   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD11207-02-2

 S. 5058--A                          2

    (A) A NO-STEP ENTRANCE OR ENTRANCES ALLOWING  ACCESS  INTO  THE  RESI-
  DENCE;
    (B)  INTERIOR  PASSAGE DOORS PROVIDING AT LEAST A THIRTY-TWO INCH WIDE
  OPENING;
    (C) REINFORCEMENTS IN BATHROOM WALLS  ALLOWING  INSTALLATION  OF  GRAB
  BARS AROUND THE TOILET, TUB AND SHOWER; AND
    (D) LIGHT SWITCHES AND OUTLETS PLACED IN LOCATIONS ACCESSIBLE TO DISA-
  BLED PERSONS.
    (3)  IF  THE  AMOUNT  OF  CREDIT ALLOWABLE UNDER THIS SUBSECTION SHALL
  EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS MAY BE CARRIED  OVER
  TO  THE  FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED FROM THE TAXPAYER'S
  TAX FOR SUCH YEAR OR YEARS.
    (4) (A) THE PROVISIONS OF THIS  SUBSECTION  SHALL  NOT  APPLY  TO  ANY
  DWELLING OWNED SOLELY FOR COMMERCIAL PURPOSES. IN THE CASE OF A BUILDING
  WHERE  LESS  THAN  THE  ENTIRE  BUILDING  IS  USED AS A RESIDENCE OF THE
  TAXPAYER, ONLY THE PORTION OF THE TOTAL EXPENDITURES MADE IN THE  BUILD-
  ING  THAT  IS  ATTRIBUTABLE  TO  THE  RESIDENCE OF THE TAXPAYER SHALL BE
  TREATED AS QUALIFIED EXPENDITURES FOR THE PURPOSES OF THIS SUBSECTION.
    (B) IF THE TAXPAYER OCCUPIES THE DWELLING AS HIS OR HER PRIMARY  RESI-
  DENCE  FOR  ONLY  A  PORTION  OF A TAX YEAR IN WHICH A CREDIT UNDER THIS
  SUBSECTION IS CLAIMED, THE AMOUNT  OF  THE  ALLOWABLE  CREDIT  SHALL  BE
  REDUCED  IN PROPORTION TO THE AMOUNT OF TIME THE TAXPAYER DID NOT OCCUPY
  THE DWELLING AS HIS OR HER PRIMARY RESIDENCE.
    (C) IN THE CASE OF A DWELLING THAT IS OWNED BY AND IS A  RESIDENCE  OF
  TWO  OR  MORE PERSONS, OTHER THAN A HUSBAND AND WIFE, THE PORTION OF THE
  TOTAL EXPENDITURES MADE IN THE REHABILITATION OF THE  BUILDING  THAT  IS
  ATTRIBUTABLE  TO EACH TAXPAYER SHALL BE EQUAL TO THE TAXPAYER'S SHARE OF
  OWNERSHIP IN SUCH BUILDING.
    (5) THE TAXPAYER SHALL FURNISH SUCH INFORMATION  AS  THE  COMMISSIONER
  DETERMINES IS NECESSARY TO DETERMINE ANY CREDIT UNDER THIS SUBSECTION.
    S  2.  This  act  shall take effect immediately and shall be deemed to
  have been in full force  and  effect  on  and  after  January  1,  2012;
  provided further, this act shall apply to all tax years commencing on or
  after January 1, 2012.