Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2020 |
referred to investigations and government operations |
Feb 11, 2019 |
referred to investigations and government operations |
Senate Bill S3591
2019-2020 Legislative Session
Sponsored By
(D, WF) 21st Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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
2019-S3591 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Add §44, amd §§210-B & 606, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
S7513
2015-2016: S2571
2017-2018: S2869
2019-S3591 (ACTIVE) - Sponsor Memo
BILL NUMBER: S3591 SPONSOR: PARKER TITLE OF BILL: An act to amend the tax law, in relation to establish- ing a tax credit for developers utilizing renewable energy sources in affordable housing units PURPOSE: Provides a tax credit to developers using renewable sources of energy, per unit of an affordable housing facility consisting of 10 or more units in order to reduce the cost of utilities that render multi-family housing unaffordable to persons between 30% and less than 100% of the AMI. JUSTIFICATION: According to US HUD Secretary Donovan the Home Energy Affordability Gap Index based on energy bills for persons below 185 percent of the Federal Poverty Level. Five years ago that gap was at $34 billion and while the estimates for this past winter have yet to be published, the range of
2019-S3591 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3591 2019-2020 Regular Sessions I N S E N A T E February 11, 2019 ___________ Introduced by Sen. PARKER -- 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 developers utilizing renewable energy sources in affordable hous- ing units THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 44 to read as follows: § 44. CREDIT FOR UTILIZING RENEWABLE ENERGY SOURCES. (A) GENERAL. A TAXPAYER SUBJECT TO TAX UNDER ARTICLE NINE-A OR TWENTY-TWO OF THIS CHAP- TER, WHO IS A DEVELOPER WHO USES RENEWABLE SOURCES OF ENERGY, AS SUCH TERM IS DEFINED IN SUBDIVISION TWELVE OF SECTION 1-103 OF THE ENERGY LAW, DURING THE CONSTRUCTION OF AN AFFORDABLE HOUSING FACILITY, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAXES IN AN AMOUNT OF TWO THOUSAND DOLLARS PER QUALIFIED UNIT AND PURSUANT TO THE PROVISIONS REFERENCED IN SUBDIVI- SION (C) OF THIS SECTION. (B) DEFINITIONS. (1) "AFFORDABLE HOUSING FACILITY" SHALL MEAN A BUILD- ING CONTAINING TEN OR MORE UNITS, NINETY PERCENT OF WHICH ARE QUALIFIED UNITS. (2) "QUALIFIED UNIT" SHALL MEAN ANY UNIT WITHIN AN AFFORDABLE HOUSING FACILITY THAT USES RENEWABLE SOURCES OF ENERGY AND IS OCCUPIED BY ONE OR MORE PEOPLE WHOSE TOTAL INCOME IS LESS THAN ONE HUNDRED PERCENT OF THE AREA MEDIAN INCOME. (C) CROSS-REFERENCES. FOR APPLICATION OF THE CREDIT PROVIDED FOR IN THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER: (1) ARTICLE 9-A: SECTION 210-B, SUBDIVISION 53. (2) ARTICLE 22: SECTION 606, SUBSECTIONS (I) AND (JJJ). § 2. Section 210-B of the tax law is amended by adding a new subdivi- sion 53 to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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