Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 04, 2012 |
referred to ways and means |
Mar 24, 2011 |
referred to ways and means |
Assembly Bill A6679
2011-2012 Legislative Session
Sponsored By
HEVESI
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
Michelle Schimel
Robert J. Rodriguez
2011-A6679 (ACTIVE) - Details
2011-A6679 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6679 2011-2012 Regular Sessions I N A S S E M B L Y March 24, 2011 ___________ Introduced by M. of A. HEVESI -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to providing a tax deduction for the installation of mechanical insulation property 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 27 to read as follows: (27) THE APPLICABLE PERCENTAGE OF THE COST OF MECHANICAL INSULATION PROPERTY PLACED IN SERVICE DURING THE TAXABLE YEAR. (A) FOR THE PURPOSES OF THIS PARAGRAPH: (I) "APPLICABLE PERCENTAGE" SHALL MEAN THE LESSER OF: (I) THIRTY PERCENT OF THE COST OF THE MECHANICAL INSULATION PROPERTY PLACED IN SERVICE; OR (II) THE EXCESS, IF ANY, OF (A) THE ENERGY SAVINGS, EXPRESSED AS A PERCENTAGE, OBTAINED BY PLACING SUCH MECHANICAL INSULATION PROPERTY IN SERVICE IN CONNECTION WITH A MECHANICAL SYSTEM, OVER (B) THE ENERGY SAVINGS, EXPRESSED AS A PERCENTAGE, SUCH PROPERTY IS REQUIRED TO MEET BY STANDARD 90.1-2007, DEVELOPED AND PUBLISHED BY THE AMERICAN SOCIETY OF HEATING, REFRIGERATING AND AIR-CONDITIONING ENGINEERS. (II) "COST" SHALL INCLUDE: (I) THE AMOUNTS PAID OR INCURRED FOR THE INSTALLATION OF SUCH MECHAN- ICAL INSULATION PROPERTY; (II) EXPENDITURES FOR LABOR COSTS PROPERLY ALLOCABLE TO THE PREPARA- TION, ASSEMBLY AND INSTALLATION OF MECHANICAL INSULATION PROPERTY; AND (III) IN THE CASE OF REMOVAL AND DISPOSAL OF THE OLD MECHANICAL INSU- LATION PROPERTY, THIRTY PERCENT OF THE COST OF THE NEW MECHANICAL INSU- LATION PROPERTY, DETERMINED WITHOUT REGARD TO THE TAX CREDIT AUTHORIZED BY THIS SUBSECTION. (III) "MECHANICAL INSULATION PROPERTY" SHALL MEAN INSULATION MATERI- ALS, FACINGS AND ACCESSORY PRODUCTS: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09957-02-1
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