A03030 Summary:

BILL NOA03030
 
SAME ASSAME AS UNI. S02101
 
SPONSORThiele
 
COSPNSR
 
MLTSPNSR
 
Amd S615, Tax L
 
Provides for an increase in federal itemized deduction for certain home improvements; a fifty percent tax exemption is provided to a residential property owner of a one, two or three family home for improvements that will promote environmental quality; limits the deduction to $1,000 in any one tax year.
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A03030 Actions:

BILL NOA03030
 
01/21/2015referred to ways and means
01/06/2016referred to ways and means
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A03030 Committee Votes:

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A03030 Floor Votes:

There are no votes for this bill in this legislative session.
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A03030 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
            S. 2101                                                  A. 3030
 
                               2015-2016 Regular Sessions
 
                SENATE - ASSEMBLY
 
                                    January 21, 2015
                                       ___________
 
        IN  SENATE  -- Introduced by Sens. LAVALLE, DeFRANCISCO, LARKIN, MARTINS
          -- read twice and ordered printed, and when printed to be committed to
          the Committee on Investigations and Government Operations
 
        IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once  and  referred
          to the Committee on Ways and Means
 
        AN  ACT  to  amend  the tax law, in relation to modifications increasing
          federal itemized deductions for home improvements
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1. Subsection (d) of section 615 of the tax law is amended by
     2  adding a new paragraph 5 to read as follows:
     3    (5) an amount, not to exceed fifty percent of the amount expended by a
     4  taxpayer who is the owner of a one, two or three family home for  making
     5  an  improvement  to  said home which will promote environmental quality,
     6  including the replacement or upgrade of an  individual  sewage  disposal
     7  system,  replacement or upgrade of fuel oil tanks, or the installment of
     8  a storm water collection and recharge system. This deduction is  limited
     9  to one thousand dollars in any one tax year.
    10    § 2. This act shall take effect immediately.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07183-01-5
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