Provides for a tax credit against personal income tax of $1000 for each homeless person, aged 62 years or older, that the taxpayer provides shelter to the taxpayer's home; the taxpayer must also provide room and board for not less than one year to receive the credit.
STATE OF NEW YORK
________________________________________________________________________
1762
2013-2014 Regular Sessions
IN ASSEMBLY(Prefiled)
January 9, 2013
___________
Introduced by M. of A. ENGLEBRIGHT, TITONE, CAHILL, RIVERA, BENEDETTO,
MARKEY -- Multi-Sponsored by -- M. of A. AUBRY, BOYLAND, COOK, HEAST-
IE, MAISEL, PEOPLES-STOKES, ROBINSON, SCHIMEL, WEISENBERG -- read once
and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to providing for a credit
against personal income tax for sheltering a homeless person sixty-two
years of age or older
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 (o-1) to read as follows:
3 (o-1) Sheltering homeless person credit. (1) For taxable years begin-
4 ning on or after two thousand thirteen, a taxpayer shall be allowed a
5 credit, to be credited against the tax imposed by this article, after
6 allowance of any other credit provided under this section and any cred-
7 its permitted under sections six hundred twenty, six hundred twenty-one
8 and six hundred thirty-five of this article. The amount of the credit
9 shall be one thousand dollars for each homeless person sixty-two years
10 of age or older whom the taxpayer shelters in his or her home, providing
11 room and board, during the taxable year, provided that such homeless
12 person shall have been sheltered by the taxpayer for not less than one
13 year.
14 (2) In no event shall the amount of the credit provided for in this
15 subsection be allowed in excess of the taxpayer's tax for such year.
16 However, if the amount of credit otherwise allowable under this
17 subsection for any taxable year results in such excess amount, any
18 amount of credit not deductible in such taxable year may be carried over
19 to the following year or years and may be deducted from the taxpayer's
20 tax for such year or years.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD05726-01-3
A. 1762 2
1 (3) For purposes of this subsection, "homeless person" shall have the
2 meaning prescribed in subdivision two of section forty-two of the social
3 services law, provided that such person is sixty-two years of age or
4 older.
5 § 2. This act shall take effect immediately.
