A09005 Summary:

COSPNSRLifton, Romeo, Otis, Buttenschon, Santabarbara, Seawright, Weprin
Amd §606, Tax L
Relates to a credit for purchase, construction or retrofitting of a principal residence to achieve universal visitability pursuant to guidelines developed by the division of code enforcement and administration within the department of state; caps tax credits awarded at 1 million dollars per year for 5 years.
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A09005 Actions:

01/10/2020referred to ways and means
01/23/2020advanced to third reading cal.349
01/29/2020passed assembly
01/29/2020delivered to senate
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A09005 Committee Votes:

WAYS AND MEANS Chair:Weinstein DATE:01/22/2020AYE/NAY:32/0 Action: Favorable

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A09005 Floor Votes:

DATE:01/29/2020Assembly Vote  YEA/NAY: 135/1
AshbyYCusickYGarbarinoYLupardoYPheffer AmatoYSmullenY
BarronYDe La RosaYGriffinYMcDonoughERRamosYStirpeY
BlakeYDickensYHevesiYMiller B YRichardsonYThieleY
BlankenbushYDilanYHunterYMiller MGYRiveraYVanelY
BrabenecYDinowitzERHyndmanYMiller MLYRodriguezERWalczykY
BronsonYD'UrsoYJaffeeYMorinelloYRosenthal D YWallaceY
BuchwaldYEichensteinYJean-PierreYMosleyYRosenthal L YWalshY
ColtonYFitzpatrickYLavineYPalmesanoYSchmittYMr. SpeakerY

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A09005 Memo:

submitted in accordance with Assembly Rule III, Sec 1(f)
  TITLE OF BILL: An act to amend the tax law, in relation to providing a tax credit for universal visitability; and providing for the repeal of such provisions upon expiration thereof   PURPOSE OR GENERAL IDEA OF BILL: To allow a tax credit for either new or retrofitted principal residences which are universally designed to be accessible and adaptable housing.   SUMMARY OF PROVISIONS: This bill amends section 606 of the tax law by adding a new subsection (coo) which would provide a one-time tax credit for a newly constructed principal residence not to exceed $2,750 or for a renovated principal residence of 50% of the amount expended, not to exceed $2,750, for universal visitability. Eligibility requirements for universal visitability would be established through guidelines by the Department of State Division of Code Enforce- ment and Administration. This credit would be effective beginning Janu- ary 1, 2021 until December 31, 2025.   JUSTIFICATION: This legislation provides a positive incentive for universal design changes to create accessible and adaptable housing which is important to allow individuals to age in place. Universal design changes make resi- dences accessible and user friendly for senior citizens and others with limited mobility. By providing seniors with the opportunity to age in place, this may save some of the costs associated with assisted living or nursing homes. This bill would provide and alternative for many seniors who are able to remain in place with universal design. changes. It also will assist in building an inventory of residence which will have universal design to ensure accessibility. The use of a tax credit provides and incentive rather.than a mandated approach.   PRIOR LEGISLATIVE HISTORY: S.2411A/A.5950A - 2017; Passed both houses and Vetoed by Governor. S.6943A/A.9303B - 2016; S.2967A/A.1276 - 2015 Passed both houses and Vetoed by Governor. A10668 - 2018 Passed assembly S.2424/A.2493- 2019 Passed both houses and Vetoed by Governor.   FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: The total credit amount provided by the state will be capped at $1 million one   EFFECTIVE DATE: . This act shall take effect immediately and shall apply to taxable years commencing on and after January 1, 2021 and shall expire and be deemed repealed December 31, 2025.
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A09005 Text:

                STATE OF NEW YORK
                   IN ASSEMBLY
                                    January 10, 2020
        Introduced  by M. of A. LAVINE, LIFTON, ROMEO, OTIS, BUTTENSCHON, SANTA-
          BARBARA, SEAWRIGHT -- read once and referred to the Committee on  Ways
          and Means
        AN  ACT  to amend the tax law, in relation to providing a tax credit for
          universal  visitability;  and  providing  for  the  repeal   of   such
          provisions upon expiration thereof

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
     2  subsection (kkk) to read as follows:
     3    (kkk)  Universal visitability tax credit. (1) For taxable years begin-
     4  ning on or after January first, two thousand twenty-one, until  December
     5  thirty-first,  two  thousand  twenty-five, a taxpayer shall be allowed a
     6  credit against the tax imposed by this article  for  a  portion  of  the
     7  total  purchase  price  paid  by such taxpayer for a principal residence
     8  attributable to universal visitability or the total amount expended by a
     9  taxpayer  to  retrofit  an  existing  principal  residence  to   achieve
    10  universal  visitability  provided  that  the  principal residence or the
    11  retrofitting of the existing principal residence is located within  this
    12  state  and designed to provide universal visitability as defined through
    13  the eligibility requirements established by guidelines developed by  the
    14  division of code enforcement and administration within the department of
    15  state.  For  the  purpose  of this subsection, principal residence shall
    16  mean such residence pursuant to section one hundred  twenty-one  of  the
    17  internal revenue code.
    18    (2)  The  credit  shall  be  allowed for the taxable year in which the
    19  principal residence has been purchased or constructed, or the  retrofit-
    20  ting  or  renovation  of  the  residence  or  residential  unit has been
    21  completed, or the year of allocation to  the  taxpayer  as  provided  in
    22  paragraph  seven  of  this  subsection.  The  credit  allowed under this
    23  subsection shall not exceed (A) twenty-seven hundred fifty  dollars  for
    24  the  purchase  of  a  new  residence,  or (B) fifty percent of the total
    25  amount expended, but not to exceed twenty-seven  hundred  fifty  dollars
    26  for the retrofitting or renovation of each existing residence or unit.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.

        A. 9005                             2
     1    (3) No credit shall be allowed under this subsection for the purchase,
     2  retrofitting or renovation of residential rental property.
     3    (4)  The  credit  shall  be  allowed  under  this  subsection only for
     4  universal visitability improvements made by or at the direction  of  the
     5  taxpayer.
     6    (5)  If the amount of the credit allowable under this subsection shall
     7  exceed the taxpayer's tax for such year, the excess may be carried  over
     8  to  the  following year or years and may be deducted from the taxpayer's
     9  tax for such year or years.
    10    (6) Eligible taxpayers shall apply for the credit through the division
    11  of code enforcement and administration within the department  of  state.
    12  The  division  of code enforcement and administration within the depart-
    13  ment of state shall issue a certification for an approved application to
    14  the taxpayer that states the amount  of  the  credit  allocated  to  the
    15  taxpayer and the allocation year.
    16    (7)  (A)  The  aggregate amount of tax credits allowed pursuant to the
    17  authority of this subsection shall be  one  million  dollars  each  year
    18  during  the  period two thousand twenty-one through two thousand twenty-
    19  five. Such aggregate amounts  of  credits  shall  be  allocated  by  the
    20  department  of state among taxpayers in order of priority based upon the
    21  date of filing an application for allocation of credit with the division
    22  of code enforcement and administration. If the total amount of allocated
    23  credits applied for in any particular year exceeds the aggregate  amount
    24  of  tax credits allowed for such year under this subsection, such excess
    25  shall be treated as having been applied for on  the  first  day  of  the
    26  subsequent year.
    27    (B)  The  secretary  of state, after consulting with the commissioner,
    28  shall promulgate regulations by October thirty-first, two thousand twen-
    29  ty to establish procedures for the allocation of tax credits as required
    30  by  this  subparagraph.  Such  rules  and  regulations   shall   include
    31  provisions  describing  the  application process, the due dates for such
    32  applications, the standards which shall be used to evaluate the applica-
    33  tions, the documentation that will be provided to taxpayers to  substan-
    34  tiate  to  the  department  the  amount of tax credits allocated to such
    35  taxpayers, and such other provisions as deemed necessary  and  appropri-
    36  ate.  Notwithstanding  any other provisions to the contrary in the state
    37  administrative procedure act, such rules and regulations may be  adopted
    38  on  an  emergency  basis if necessary to meet such October thirty-first,
    39  two thousand twenty deadline.
    40    (8) The department of state shall submit to the governor,  the  tempo-
    41  rary president of the senate, and the speaker of the assembly, an annual
    42  report  to  be  submitted  by February first of each year evaluating the
    43  effectiveness of the universal visitability tax credit provided by  this
    44  subsection. Such report shall be based on data available from the appli-
    45  cation  filed  with  the division of code enforcement and administration
    46  for universal visitability credits. Notwithstanding any provision of law
    47  to the contrary, the information contained in the report shall be public
    48  information. The report may also include any recommendations of  changes
    49  in the calculation or administration of the credit, and any other recom-
    50  mendation of the commissioner of the department of state or the division
    51  of  code  enforcement  and administration regarding continuing modifica-
    52  tion, repeal of such act, and such other information regarding  the  act
    53  as the division may feel useful and appropriate.
    54    § 2. This act shall take effect immediately and shall apply to taxable
    55  years  commencing  on  and after January 1, 2021 and shall expire and be
    56  deemed repealed December 31, 2025.
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A09005 LFIN:

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A09005 Chamber Video/Transcript:

1-29-20Video (@ 02:02:07)Transcript pdf Transcript html
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