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Who cares
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Sponsors
1 Co-sponsor
History
- Referred to investigations and government operations
- Reported and committed to finance
- Referred to investigations and government operations
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Provides tax credit on personal income taxes for homeowner's insurance
In Assembly Committee · Ways And Means · Sponsor Darryl Towns
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the tax law, in relation to providing a credit for excessive residential insurance payments in certain cities
Purpose or general idea of bill
To provide tax credit on personal income taxes for taxes for homeowners.
Summary or specific provision
This act provides tax credit for excessive insurance payments in a city having a population of one hundred thousand or more. The tax credit shall not exceed three hundred and fifty dollars, nor shall it be more than the tax to be paid by the taxpayer. Furthermore, the taxpayer must own and reside in the residence which is insured.
Effects of present law which this bill would alter
The tax law is Amended by adding a new section six hundred twenty-six.
Justification
In certain cities, residential insurance payments are excessive, this act gives home owners, living in a city with a population of one hundred thousand or more a tax credit.
Prior legislative history
S.1898 of 2007 01/29/07 Referred to Investigations & Governmental Operations
Effective date
This act shall take effect on the first day of January next succeeding the date on which it shall have become law and shall apply to all taxable years beginning on or after such effective date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.