Bill S1167-2009

Provides a tax deduction of one thousand dollars for heating oil, natural gas and propane paid for by the taxpayer

Provides a tax deduction of one thousand dollars for heating oil, natural gas and propane paid for by the taxpayer.

Details

Actions

  • Jan 6, 2010: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • Jan 26, 2009: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Memo

 BILL NUMBER:  S1167

TITLE OF BILL : An act to amend the tax law, in relation to allowing a reduction to federal adjusted gross income for heating oil, natural gas and propane

PURPOSE : This legislation creates the Home Heating Relief Act and provides a tax deduction of one thousand dollars for heating oil, natural gas and propane paid for by the taxpayer.

SUMMARY OF PROVISIONS : Subsection (c) of section 612 of the tax law is amended by a adding a new paragraph 39 to provides a tax deduction of one thousand dollars for heating oil, natural gas and propane paid for by the taxpayer.

The deduction will be allowed for any married taxpayer filing jointly with a federal adjusted gross income of $150,000 or less and for any taxpayer filing as head of household, unmarried or married filing separately with an income of $75,000 or under.

JUSTIFICATION : As New Yorkers struggle with the price of gasoline at the pump each and everyday, they are just a few short months away from the challenge of paying to heat their home. There is little doubt that we are facing another crippling rise in prices for natural gas, home heating oil and propane this winter. Consumers need some sort of relief from these skyrocketing heating expenses. Something must be done when people are making choices between paying their utility bill or filling a prescription or buying food.

This legislation, the Home Heating Relief Act, will provide a tax deduction of one thousand dollars for heating oil, natural gas and propane paid for by the taxpayer during the winter heating season.

LEGISLATIVE HISTORY : 2007-2008: S.8173A- Passed Senate

FISCAL IMPLICATIONS : To be determined.

EFFECTIVE DATE : This act shall take effect immediately and shall apply to taxable years beginning on or after the first of January next succeeding the date on which it shall have become a law.

Text

STATE OF NEW YORK ________________________________________________________________________ 1167 2009-2010 Regular Sessions IN SENATE January 26, 2009 ___________
Introduced by Sen. C. JOHNSON -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations AN ACT to amend the tax law, in relation to allowing a reduction to federal adjusted gross income for heating oil, natural gas and propane THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (c) of section 612 of the tax law is amended by adding a new paragraph 39 to read as follows: (39) AN AMOUNT OF ONE THOUSAND DOLLARS PAID BY A RESIDENT TAXPAYER FOR HEATING OIL, NATURAL GAS AND PROPANE USED TO HEAT THE RESIDENCE OF THE TAXPAYER, PROVIDED THAT NO REDUCTION TO FEDERAL ADJUSTED GROSS INCOME SHALL BE ALLOWED FOR ANY MARRIED TAXPAYER FILING JOINTLY WITH A FEDERAL ADJUSTED GROSS INCOME GREATER THAN ONE HUNDRED FIFTY THOUSAND DOLLARS, OR FOR ANY TAXPAYER FILING AS HEAD OF HOUSEHOLD, UNMARRIED OR MARRIED FILING SEPARATE RETURNS WITH A FEDERAL ADJUSTED GROSS INCOME GREATER THAN SEVENTY-FIVE THOUSAND DOLLARS. S 2. This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2009.

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