Establishes a tax credit for personal property replacement as a result of bedbug infestation; credit of 15% not to exceed $750; certification determined by commissioner.

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S511-2013 Actions

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

S511-2013 Memo

BILL NUMBER:S511

TITLE OF BILL:
An act
to amend the tax law, in relation to establishing a tax
credit for personal property replacement as a result of bedbug
infestation

PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this legislation is to offer a 15% tax credit towards
the replacement of personal property destroyed by bedbugs up to $750.

SUMMARY OF SPECIFIC PROVISIONS:
The bill will amend section 606 of the tax law to add subsection uu:

1. Allowing an individual to receive a credit against the personal tax
imposed by this article equal to fifteen percent of qualified
personal property replacement expenditures and not to exceed $750.

2a. The term "qualified personal property replacement expenditures"
means expenditures made for the replacement of personal property
due to bedbug damage.

b. Such qualified expenditures shall include but not be limited to
furniture, rugs or other home goods that may be damaged by bedbug
infestation.

c. Such qualified personal property replacement expenditures shall
not include interest or other finance charges.

3. certification for credit allowance. The commissioner shall
determine the procedure for certification for the credit authorized
pursuant to this subsection.

JUSTIFICATION:
The recent bedbug epidemic has brought legitimate suffering to New
Yorkers statewide. Victims have contracted bedbugs from neighbors,
hotel stays and a variety of other means. In addition to social
stigma, the afflicted have experienced economic hardship as a result
of the loss of furniture, bedding, clothing and other belongings that
must be discarded during the extermination process. Bedbug
infestations are not covered by most varieties of renters or
homeowners insurance and this bill would offer a modest tax credit to
assist affected New Yorkers.

PRIOR LEGISLATIVE HISTORY:
2010: S.7065 (Duane), Died in Investigations and Gov't Ops;
A.1008 (Rosenthal), Died in Ways and Means.

FISCAL IMPLICATIONS:
Undetermined.

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

S511-2013 Text

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

                                     511

                         2013-2014 Regular Sessions

                              I N  SENATE

                                 (PREFILED)

                               January 9, 2013
                                 ___________

  Introduced by Sen. ESPAILLAT -- 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 establishing a tax credit
    for personal property replacement as a result of bedbug infestation

    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) PERSONAL PROPERTY REPLACEMENT CREDIT. (1) GENERAL. AN  INDIVIDUAL
  TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
  CLE  EQUAL TO FIFTEEN PERCENT OF QUALIFIED PERSONAL PROPERTY REPLACEMENT
  EXPENDITURES, AND NOT TO EXCEED SEVEN HUNDRED FIFTY DOLLARS.
    (2) QUALIFIED PERSONAL PROPERTY REPLACEMENT EXPENDITURES. (A) THE TERM
  "QUALIFIED PERSONAL PROPERTY REPLACEMENT  EXPENDITURES"  MEANS  EXPENDI-
  TURES  MADE  FOR  THE  REPLACEMENT  OF  PERSONAL  PROPERTY DUE TO BEDBUG
  DAMAGE.
    (B) SUCH QUALIFIED EXPENDITURES SHALL INCLUDE BUT NOT  BE  LIMITED  TO
  FURNITURE, RUGS OR OTHER HOME GOODS THAT MAY BE DAMAGED BY BEDBUG INFES-
  TATION.
    (C)  SUCH  QUALIFIED  PERSONAL PROPERTY REPLACEMENT EXPENDITURES SHALL
  NOT INCLUDE INTEREST OR OTHER FINANCE CHARGES.
    (3) CERTIFICATION FOR CREDIT ALLOWANCE. THE COMMISSIONER SHALL  DETER-
  MINE  THE PROCEDURE FOR CERTIFICATION FOR THE CREDIT AUTHORIZED PURSUANT
  TO THIS SUBSECTION.
    S 2. This act shall take effect immediately and shall apply to taxable
  years beginning on and after the first of January  next  succeeding  the
  date on which it shall have become a law.

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD01943-01-3