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A03854 Summary:

BILL NOA03854
 
SAME ASSAME AS S04767
 
SPONSORAshby
 
COSPNSRLiPetri
 
MLTSPNSR
 
Amd 606, Tax L
 
Relates to creating a tax credit for taxpayers who purchase and install a water filtration or purification system in their residence or business.
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A03854 Actions:

BILL NOA03854
 
01/31/2019referred to ways and means
01/08/2020referred to ways and means
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A03854 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A3854
 
SPONSOR: Ashby
  TITLE OF BILL: An act to amend the tax law, in relation to creating a tax credit for households or businesses that install a water purification or filtration system   PURPOSE OR GENERAL IDEA OF BILL: To alleviate the financial burden on those who choose to have profes- sionally installed water purification or filtration systems in order to access potable water in their homes or businesses.   SUMMARY OF PROVISIONS: The executive law is amended by adding a new subsection jjj to read as follows: water filtration or purification tax credit. A taxpayer who purchases and installs a water purification or filtration system in their residence and/or business, if such residence or business is located within this state, shall be allowed a tax credit against the tax otherwise imposed under this article in an amount equal to five hundred dollars.   JUSTIFICATION: Across the state, we have seen instances of contamination in our drink- ing water. In many cases, the best method to reduce or eliminate the contamination is through the professional installation of a water purification or filtration system. The purchase and installation of the water purification or filtration systems can cause a significant finan- cial burden on the individuals, families, and businesses. Their water was contaminated through no fault of their own, and they should not be expected to bear the burden of this corrective measure.   PRIOR LEGISLATIVE HISTORY: 2017: A. 1838 - Died in ways and means   FISCAL IMPLICATIONS: To be determined   EFFECTIVE DATE: This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2018.
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A03854 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          3854
 
                               2019-2020 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 31, 2019
                                       ___________
 
        Introduced  by M. of A. ASHBY -- read once and referred to the Committee
          on Ways and Means
 
        AN ACT to amend the tax law, in relation to creating a  tax  credit  for
          households  or businesses that install a water purification or filtra-
          tion system
 
          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 (jjj) to read as follows:
     3    (jjj) Water filtration or purification tax credit. (1) A taxpayer  who
     4  purchases  and  installs  a  water  purification or filtration system in
     5  their residence and/or  business,  if  such  residence  or  business  is
     6  located  within  this  state,  shall be allowed a credit against the tax
     7  otherwise imposed under this article in an amount equal to five  hundred
     8  dollars.
     9    (2)  A taxpayer may claim one credit pursuant to paragraph one of this
    10  subsection for  each  residence  or  business  for  which  the  taxpayer
    11  purchases and installs a new water purification or filtration system.
    12    (3)  For  purposes of this subsection a "water purification or filtra-
    13  tion system" shall mean a system that removes impurities from  water  by
    14  means  of  a  fine  physical barrier, a chemical process or a biological
    15  process that was installed by a professional.
    16    § 2. This act shall take effect immediately and shall apply to taxable
    17  years beginning on or after January 1, 2019.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02033-01-9
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