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History
- Referred to investigations and government operations
- 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.
Establishes a tax credit for homeowners and businesses to build permeable surfaces
In Assembly Committee · Ways And Means · Sponsor Albert A. Stirpe
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S2163
Title of bill
An act to amend the tax law, in relation to credits against tax for homeowners and businesses to build permeable surfaces
Purpose
The bill would provide homeowners and businesses a tax credit for constructing a permeable surface, such as a driveway or parking lot to help mitigate flooding.
Summary of provisions
Section 1. Adds a new subsection (ccc) to section 606 of the tax law to create a tax credit for homeowners and businesses who construct a permeable surface, during the taxable year, as part of or near their real property. The tax credit can be for up to 50% of the cost of construction but cannot exceed $5,000.
Section 2. Effective date.
Justification
Many counties across New York State experience extensive and devastating flood damage due to Hurricane Irene and Tropical Storm Lee. Future flood damage can be mitigated by incentivizing homeowners and businesses to construct permeable surfaces such as, paved driveways and parking lots which allow for the movement of water and air around the materials. Permeable surfaces could decrease future damages caused by flooding.
Legislative history
2013-14: S1787-A - Investigations & Government Operations 2012: S6750 - Investigations & Government Operations
Fiscal implications
To be determined.
Effective date
This act shall take effect immediately and shall apply to taxable years commencing on and after such date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.