S1787-2013 Actions

• Jan 9, 2013: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

S1787-2013 Memo

BILL NUMBER:S1787

TITLE OF BILL:  An act to amend the tax law, in relation to credits
against tax for homeowners and businesses to build permeable surfaces

PURPOSE:  The bill would provide homeowners and businesses a tax
credit for constructing a permeable surface, such as a driveway or
parking lot to help mitigate flooding.

SUMMARY OF PROVISIONS:  The bill creates a tax credit for homeowners
and businesses who construct a permeable surface, during the taxable
year, as part of or near their real property The tax credit can be for
up to 50% of the cost of construction but cannot exceed $5,000.

JUSTIFICATION:  Many counties across New York State experience
extensive and devastating flood damage due to Hurricane Irene and
Tropical Storm Lee. Future flood damage can be mitigated by
incentivizing homeowners and businesses to construct permeable
surfaces such as, paved driveways and parking lots which allow for the
movement of water and air around the materials. Permeable surfaces
could decrease future damages caused by flooding.

LEGISLATIVE HISTORY:  2012 - 5.6750 - Referred to Investigations and
Governmental Operations

FISCAL IMPLICATIONS: Needs to be determined.

EFFECTIVE DATE: Effective immediately.

S1787-2013 Text

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

                                    1787

                         2013-2014 Regular Sessions

                              I N  SENATE

                                 (PREFILED)

                               January 9, 2013
                                 ___________

  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:


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

    (VV) CREDIT FOR HOMEOWNERS AND BUSINESSES TO BUILD PERMEABLE SURFACES.
  (1)(A)  HOMEOWNERS  WHO  CONSTRUCT  A PERMEABLE SURFACE AS PART OF THEIR
  REAL PROPERTY, DURING THE TAXABLE YEAR, SHALL BE ELIGIBLE TO  RECEIVE  A
  TAX  CREDIT  FOR  UP  TO  FIFTY PERCENT OF THE COST OF CONSTRUCTION, NOT
  EXCEEDING FIVE THOUSAND DOLLARS.
    (B) FOR PURPOSES OF THIS SUBSECTION THE  FOLLOWING  DEFINITIONS  SHALL
  APPLY:

    (I)  HOMEOWNER  IS  DEFINED  AS  A  NEW  YORK  RESIDENT  FOR  THE PAST
  TWENTY-FOUR MONTHS AND WHO OWNS A SINGLE FAMILY OR MULTI-FAMILY DWELLING
  FOR RESIDENTIAL PURPOSES WITHIN NEW YORK STATE.
    (II) PERMEABLE SURFACE, SHALL MEAN ANY PERMEABLE  PAVING  THAT  ALLOWS
  THE  MOVEMENT  OF WATER AND AIR AROUND THE PAVING MATERIALS. A PERMEABLE
  SURFACE SHALL INCLUDE BUT NOT BE LIMITED TO:  SIDEWALKS,  DRIVEWAYS  AND
  PARKING LOTS.
    (2)(A)  BUSINESSES  WHO  CONSTRUCT  A PERMEABLE SURFACE ADJACENT TO OR
  WITHIN ONE THOUSAND FEET OF THE PROPERTY, DURING THE TAXABLE YEAR, SHALL
  BE ELIGIBLE TO RECEIVE A TAX CREDIT FOR UP TO FIFTY PERCENT OF THE  COST
  OF CONSTRUCTION, NOT EXCEEDING FIVE THOUSAND DOLLARS.
    (B)  FOR  PURPOSES  OF THIS SUBSECTION THE FOLLOWING DEFINITIONS SHALL
  APPLY:


   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD05322-01-3

 S. 1787                             2

    (I) BUSINESS SHALL MEAN ANY BUSINESS WHOSE PRINCIPAL PLACE OF BUSINESS
  IS LOCATED IN NEW YORK STATE, AND HAS BEEN LOCATED IN THE STATE FOR  THE
  PREVIOUS THIRTY-SIX MONTHS.
    (II)  PERMEABLE  SURFACE,  SHALL MEAN ANY PERMEABLE PAVING THAT ALLOWS
  THE MOVEMENT OF WATER AND AIR AROUND THE PAVING MATERIALS.  A  PERMEABLE
  SURFACE  SHALL  INCLUDE  BUT NOT BE LIMITED TO: SIDEWALKS, DRIVEWAYS AND
  PARKING LOTS.
    S 2. This act shall take effect immediately and shall apply to taxable
  years commencing on and after such date.