What's happening
This bill creates a $1,000 state income tax credit for taxpayers who shelter a homeless person aged 62 or older for at least one year.
Why it matters
Provides direct financial incentive. for individuals or families to offer stable, long-term shelter to elderly homeless people, aiming to address both homelessness and the unique challenges faced by older adults without housing.
Targets a vulnerable population. homeless persons aged 62 or older—who often face higher health risks and barriers to accessing services, potentially improving their quality of life and reducing reliance on emergency shelters or public health systems.
Requires a full-year commitment. to qualify for the tax credit, encouraging lasting, stable housing arrangements rather than short-term or temporary shelter, which may lead to better social and health outcomes for both hosts and guests.
Allows unused credits to be carried forward. to future tax years, making the benefit more flexible and accessible for taxpayers who may not owe enough in a single year to use the full credit, thereby increasing the practical value of the program.
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Who cares
Headline styles
Tax Credit for Sheltering Seniors
Plain English, a few words. Used as the page title.
Sponsors
4 Multi-sponsors
History
- Referred to ways and means
- Referred to ways and means
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
6271
2017-2018 Regular Sessions
IN ASSEMBLY
March 1, 2017
Introduced by M. of A. ENGLEBRIGHT, TITONE, CAHILL, RIVERA, BENEDETTO -- Multi-Sponsored by -- M. of A. AUBRY, COOK, PEOPLES-STOKES, PERRY -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 Assembly, do enact as follows:
Section 1. Section 606 of the tax law is amended by adding a new subsection (o-1) to read as follows:
(o-1) Sheltering homeless person credit. (1) For taxable years beginning on or after two thousand seventeen, a taxpayer shall be allowed a credit, to be credited against the tax imposed by this article, after allowance of any other credit provided under this section and any credits permitted under sections six hundred twenty, six hundred twenty-one and six hundred thirty-five of this article. The amount of the credit shall be one thousand dollars for each homeless person sixty-two years of age or older whom the taxpayer shelters in his or her home, providing room and board, during the taxable year, provided that such homeless person shall have been sheltered by the taxpayer for not less than one year.
(2) In no event shall the amount of the credit provided for in this subsection be allowed in excess of the taxpayer's tax for such year. However, if the amount of credit otherwise allowable under this subsection for any taxable year results in such excess amount, any amount of credit not deductible in such taxable year may be carried over to the following year or years and may be deducted from the taxpayer's tax for such year or years.
(3) For purposes of this subsection, "homeless person" shall have the meaning prescribed in subdivision two of section forty-two of the social services law, provided that such person is sixty-two years of age or older.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03645-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.